ASX Renewable Energy Stocks: PhosEnergy wins $2.4m grant to...

ASX Renewable Energy Stocks: PhosEnergy wins $2.4m grant to build power generation WITHOUT a fuel source

Devex holdings in Phos Energy.PhosEnergy Limited (5.4%):6.1M Shares (unlisted)

Adelaide-based sustainable power company and developer PhosEnergy has won a $2.4mn grant under the Federal Government’s Cooperative Research Projects program to build cutting edge power generation units without a fuel source for space and remote defence applications.PhosEnergy, backed by Pilbara Minerals chairman Tony Keirnan and Chalice Mining’s Tim Goyder has developed GenX power generation technology, which combines metals, semiconductors, and beta-radiation to produce constant DC power over very long periods.Rather than capturing energy from an external source like the sun, the technology works by using electrode-semiconductor arrangements in a flexible panel fitting to heat emitting infrastructure, effectively capturing and converting waste radiant heat to electrons.In an interview with * PhosEnergy managing director Bryn Jones – who along with chief scientists Dr Julian Kelly invented the technology – said the grant provides the company with a two-year time frame to begin producing commercial prototypes.“In space applications traditional power sources are pretty hard to use as there is no oxygen so you can’t burn fuel – you have to use some other form of power,” he said.“At the moment the space industry mainly uses solar and battery combinations, so we see great demand in the burgeoning space industry for long-life, fuel-free power sources.“The market for power generation in space is already estimated to be worth $2.8 billion a year and is forecast to continue double-digit growth for the foreseeable future on the back of commercial and government space programs focused on extended missions, lunar occupation and resource recovery.”Jones said demand from the defence industry is also soaring as more power-hungry technology is installed in remote locations.“Secured integrated communications and sensor developments are driving the requirement for a portable and autonomous long term power source,” he said.“Both these industries need smart power generation capability which can continue to supply energy across long time frames in remote locations where there are no other options for power and GenX ticks all these boxes.”Jones said the prototypes would then be used in field tests anticipated to start in less than three years.