HELIOGEN INC Stock Price, News & Analysis

Heliogen, a leader in AI-enabled solar energy technology, reported its fourth quarter and full year financial results for 2022. In Q4, Heliogen achieved $4.7 million in revenue but incurred a net loss of $35 million, largely due to operational growth and significant non-cash expenses. For the full year, total revenue was $13.8 million with a net loss of $142 million. Key highlights included advancements in green hydrogen projects, the successful deployment of autonomous cleaning vehicles, and a strategic plan initiated following a CEO transition. Heliogen opted not to provide financial guidance as it focuses on expanding its revenue backlog and reducing costs.

Heliogen, Inc. (NYSE: HLGN) will release its fourth quarter and full year 2022 financial and operating results on March 28, 2023, after market close. A conference call for investors will take place on March 29, 2023, at 10:00 AM EDT, hosted by CEO Christie Obiaya. The call will be available via live webcast on the company’s investors portal and through a telephone line for those who wish to participate live. A replay of the call will be accessible shortly after the event. Heliogen focuses on renewable energy solutions, particularly in decarbonizing industries with AI-driven solar technology.

Heliogen, Inc. (NYSE: HLGN) announces the appointment of Roger A. Lazarus to its Board of Directors, effective March 2, 2023. With extensive experience in financial services, Lazarus aims to support Heliogen's strategic initiatives focused on growth and shareholder value. The Board has also established a Corporate Strategy Committee to oversee the implementation of key strategies, including the sale of steam products for industrial applications and green hydrogen production. The Committee is chaired by Barbara Burger and includes key officers and directors.

Heliogen, Inc. (NYSE: HLGN) has unveiled strategic priorities aimed at enhancing operational efficiency and fulfilling customer demand in a competitive landscape. CEO Christie Obiaya emphasizes a focus on driving revenue growth through their industrial steam product, which addresses crucial industrial processes and green hydrogen production. The company plans to initiate commercial-scale projects to acquire operating data, streamline cost structures to extend liquidity, and regain NYSE listing compliance. Successful execution of these initiatives may improve financing conditions and attract investor interest.

Heliogen, Inc. (NYSE: HLGN) has appointed Christie Obiaya as the new CEO, effective immediately, to succeed Bill Gross, who has resigned from his position. With nearly 20 years of experience in operational and financial management, Obiaya previously served as Chief Financial Officer and has been integral to Heliogen’s strategic plans. Kelly Rosser has been appointed interim CFO, following her role as Chief Accounting Officer since August 2022. Heliogen focuses on AI-enabled solar energy technology aimed at decarbonizing industrial operations.

Heliogen, Inc. (NYSE: HLGN) has been notified by the NYSE that its average closing stock price has fallen below $1.00, triggering a compliance issue. The company has ten business days to respond and has six months to rectify this by raising its share price. Heliogen is exploring options, including a potential reverse stock split, to comply with listing standards. This notification does not impact its ongoing operations or SEC reporting. The company is focused on sustainable energy solutions through AI-enabled technologies.

Heliogen, Inc. (NYSE: HLGN) announced its third quarter 2022 financial results, reporting total revenues of $3.1 million and a net loss of $27.8 million, attributed to operational growth costs. The company received a $4.1 million award from the U.S. Department of Energy for solar thermal calciner development and signed a letter of intent with Dimensional Energy for sustainable aviation fuel production. Heliogen revised its 2022 revenue guidance to $12 - $14 million, down from $20 - $25 million, due to project delays. A new green hydrogen production facility is also planned with the City of Lancaster, California.

The City of Lancaster has signed a memorandum of understanding (MOU) with Heliogen (NYSE:HLGN) to establish a clean hydrogen generation facility, aiming to position Lancaster as a leader in hydrogen production in the U.S.. Heliogen will act as the technology provider and equity partner, utilizing its solar thermal systems to generate up to 1500 metric tons of carbon-free hydrogen annually. This partnership is set to support local economic development, sustainable aviation fuel initiatives, and other renewable energy projects, enhancing the city’s net-zero vision.

Heliogen, Inc. (NYSE: HLGN) will release its financial and operational results for Q3 2022 on November 7, 2022, after market close. A conference call for investors will follow on November 8 at 10:00 AM EST, hosted by Bill Gross and Christie Obiaya. Investors can access the call via a live webcast on Heliogen's website or by phone at 1-877-407-0789. Heliogen focuses on AI-enabled concentrated solar energy solutions aimed at decarbonizing industries and providing reliable clean energy at scale.