Welcome to our dedicated page for HELIOGEN news (Ticker: HLGN), a resource for investors and traders seeking the latest updates and insights on HELIOGEN stock.
Heliogen, Inc. (HLGN) is a renewable energy technology company that reports on its progress using concentrating solar energy and thermal storage to support low‑carbon industrial operations. News about Heliogen often centers on its financial and operational results, project milestones, and technology demonstrations in concentrated solar power (CSP).
Investors following HLGN news can read regular quarterly updates that detail revenue, operating expenses, net income or loss, liquidity, and the company’s use of non‑GAAP measures such as EBITDA and Adjusted EBITDA. These releases also describe actions taken to reduce structural costs, including workforce reductions, facility closures, and changes in project status, as Heliogen seeks to align its operations with a technology‑centric, capital‑light model.
Company news also covers developments in Heliogen’s project portfolio, such as its west Texas steam plant, described as its first commercial‑scale installation, and the Capella Project, a Generation 3 CSP demonstration that advanced engineering and prototyping before the company and its partner decided not to proceed with construction due to cost escalation. Announcements may highlight collaborations, including a joint development agreement in Mexico with Omanor to evaluate a site for a concentrating solar power plant.
Corporate governance and capital markets updates, such as the extension of a limited duration stockholder rights plan and participation in investor conferences, appear in Heliogen’s news flow as well. Readers who monitor this page can review these releases to understand how the company presents its strategy, project pipeline, and financial condition over time.
Heliogen (OTCQX: HLGN) reported its Q4 and full-year 2024 financial results, highlighting significant operational restructuring and cost reduction initiatives. The company recorded total revenue of $18.4M in Q4 2024 and $23.2M for full-year 2024, up from $4.4M in 2023.
Key developments include the cancellation of the Capella Project with Woodside Energy, closure of the Long Beach manufacturing facility and Lancaster R&D facility, and halting of the Texas Steam Plant construction. The company achieved a 20% reduction in SG&A and R&D expenses in Q4 2024 compared to Q3, and a 25% reduction for the full year versus 2023.
Heliogen reported net income of $78.9M for Q4 2024 and $32.5M for full year 2024, primarily due to favorable non-cash adjustments related to the Capella Project cancellation. The company ended 2024 with $36.9M in liquidity and no debt.
Heliogen Inc. (OTCQX: HLGN) has announced the completion of Project Capella, a pioneering demonstration project for Generation 3 Concentrated Solar Power (CSP) technology. The project, jointly funded by Woodside Energy and the US Department of Energy, aimed to develop a 5-MWe concentrated solar power plant.
While achieving several critical milestones in prototyping and design, including Front-End Engineering Design (FEED) completion and Centrec particle receiver development, the project concluded after the FEED phase due to cost escalation. Both companies decided not to proceed with construction but remain open to future collaboration.
Heliogen is now shifting its focus to meet growing demand for dispatchable, low-carbon energy solutions for data centers using their Gen 2 CSP technology, which is already commercially proven. The project successfully advanced key technological innovations and established important foundations for future developments in CSP technology.
Heliogen (OTCQX: HLGN) reported its Q3 2024 financial results with total revenue of $1.1 million, down from $2.3 million in Q2 2024. The company reduced operating expenses by 32% sequentially to $12.6 million, and reported a net loss of $(11.8) million, improving from $(19.3) million in Q2. The company maintains $44.6 million in liquidity with no debt. Their Texas Steam Plant, their first commercial-scale installation, is progressing toward completion in Q1 2025, despite weather-related delays. The company has over 2 gigawatts of sales opportunities, including proposals with 5 customers for early design stage projects representing 1.0 gigawatts.
Heliogen, Inc. (OTCQX: HLGN), an AI-enabled concentrating solar energy technology provider, released its Q2 2024 financial results. Key highlights include:
- Revenue of $2.3 million, primarily from the Capella Project and engineering services
- Net loss of $(19.3) million, impacted by impairment charges and inventory reserves
- Adjusted EBITDA of $(14.6) million
- Available liquidity of $51.8 million as of June 30, 2024
The company implemented a targeted plan in May 2024, including workforce reduction and facility closure, to reduce costs. Heliogen's first commercial-scale steam plant in west Texas is progressing towards mechanical completion by year-end 2024. The company continues to focus on liquidity and cost reduction while exploring strategic alternatives.
Heliogen, Inc. announced its first quarter 2024 financial and operational results, showcasing a strong opportunity pipeline of 1.9 GW and a contracted revenue backlog of $76.2 million. The company added $1.8 million to its backlog through a U.S. Department of Energy award and is on track for the first commercial-scale installation of its steam plant in west Texas by year-end 2024. Heliogen reported total revenue of $1.5 million, a net loss of $(15.2) million, and an Adjusted EBITDA of $(14.9) million for the first quarter.
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