In this information session, Hayden Smith, founding CEO of FeX Energy, will provide an overview of the growing need and limited options to decarbonize high-temperature processes like hydrocarbon cracking and refining. His company, FeX Energy is a pre-commercial Canadian startup that is leading an energy revolution by unleashing the stored energy in iron.
Empowering industry decarbonization with iron energy storage
Growing towards 30% of OPEX, carbon taxes are increasingly hurting the economic viability of companies operating high temperature industrial processes. While net zero obligations and aspirations propel the need for an energy revolution, there are no simple solutions. Electrification is emerging as an option, but an increasingly renewable grid results in periods (days/weeks/months) of peak electricity rates, which can even exceed base rates by 1000-times, further hurting profitability.
FeX Energy is developing a sustainable, tailored energy storage solution for high temperature industrial processes that puts profitability back into the hands of its customers. FeX Energy’s solution relies on a novel iron oxidation reactor, which enables rapid, stable, and high-temperature heat or power delivery. Charging the system with abundant electricity during low-cost periods means operating costs can be reduced by up to 50%, while boosting operational flexibility and reliability, without carbon emissions.
Technology & team
FeX Energy’s iron-based system can store energy from days to years, releasing it at application-fit temperatures of up to 900°C. Unlike conventional batteries or emerging hydrogen solutions, FeX Energy offers very long duration energy storage without losses or safety hazards. The cost-efficient solution also offers superior operational savings and quick payback. And boasting unparalleled energy density, it is also right-fit for space-constrained or brownfield installations.
Our core invention was born in the world-leading labs of McGill University. The lab’s founder is Chief Scientific Officer and is joined by the inventor and passionate and skilled engineering team. The technical team is complemented by three seasoned executive entrepreneurs with deep industry experience from top energy equipment leaders like Siemens Energy, Rolls-Royce, and Ingersoll Rand. We are financed via private equity and non-dilutive funding.
The webinar will explore FeX Energy’s patent pending iron reactor, explore benefits to your process, and development plans to commercialize it. We are actively searching for strategic partners to build a first customer prototype in 2024, prior to scaling-up to field demonstration.
About Hayden Smith
Hayden Smith is founding CEO of FeX Energy, an energy transition focussed technology company based in Montreal. Hayden’s purpose is to unleash human energy in leaders and teams to create a more righteous world. After a decorated 15-year career in R&D, project, portfolio, and people management, Hayden co-founded the Siemens Energy Ventures in 2020 as a place where transformative growth ventures can flourish to become scalable businesses that provide sustainable, reliable, and affordable energy to the world. He is a certified project manager, engineer, Techstars mentor, ExO coach, and private pilot. He lives in Montreal with his wife and three children.
