Homerun Resources – Enduring Energy Storage: Path to Decarbonization
Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) (“Homerun” or the “Company”) is pleased to announce that on November 6th, the Company received final execution and approvals on a Multi-Party Shared Resource/Funds-In Cooperative Research and Development Agreement (CRADA) with the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) and The Babcock & Wilcox Company (B&W).
COOPERATIVE RESEARCH AND DEVELOPMENT AGREEMENT (“CRADA”)
The general purpose of the CRADA is a collaborative effort to jointly evaluate integrating a silica sand refinement process into the ENDURING Energy Storage Application. NREL, Homerun and B&W have recognized the potential of using the novel energy storage technology to process upgrade Homerun’s silica sand while providing clean reliable energy. This initiative supports Homerun’s goal of refining their silica sand to serve various industrial sectors.
The project is designed to support an advanced energy solution in long duration energy storage using particle-based thermal energy storage and overcome market hurdles for using this technology in broad decarbonization applications. It will help define a technology commercialization pathway that currently lacks first-of-its-kind use and lay groundwork for ongoing technology developments capable of enhancing U.S. industry and manufacturing jobs. If the particle thermal energy storage is realized by this collaboration, it can be deployed to train U.S. workers working on this energy solution for long term economic competitiveness. Additionally, particle thermal storage may enhance energy security and resilience by providing a potential low-cost and long-duration ability to overcome blackouts or weather events that may crumple local electric grids.
In conjunction, NREL will test Homerun silica sand to determine the composition and suitability for use in energy storage and assess other applications of silica purification for photovoltaic (PV) glass, PV silicon or glass substrate for perovskite PV cells, and silicon anode for Li-ion batteries. The Parties will analyze the economic benefits of using Homerun’s silica sand for energy storage, including energy arbitrage from energy storage and grid service, processing of the silica sand by using low-cost electricity in energy storage, and generating potential income from processed materials after its use for energy storage (e.g., high-purity silica sand for renewable materials).
ENDURING ENERGY STORAGE – PATH TO DECARBONIZATION
Energy storage provides a pathway to decarbonizing the economy and reducing dependency on the use of fossil fuels for a clean energy future. Long-duration stationary energy storage is increasingly recognized as a viable solution for improving the resiliency of the grid, integrating more intermittent renewable energy resources such as wind and solar, and providing reliable energy supply to grid or industrial processes.
