Affordable and sustainable energy storage using iron oxide.

Iron Energy AG

Incorporated

04.06.2024

Headquarters

Zürich

Support

Fossil fuels used for energy consumption are the major contribution to greenhouse gas emissions, electrification of all energy consumption with renewable energy is therefore key to reach net zero commitments. However, renewable power generation does not generate power according to demand but to current meteorological features, leading to overproduction during summer and noon and energy shortages in winter months. Current solutions for energy storage are to expensive and unsustainable. But that's where iron energy comes in, our patented solution is based on an affordable and abundant material: iron ore. This allows us to achieve a 90% cost reduction for hydrogen storage applications. The team is lead by Samuel Heiniger (doctoral student ETHZ) and Daniel Bloch (master of finance) HSG.