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247Solar to Present Breakthrough Round-the- Clock Solar Power Technology at WFES 2017

247Solar Inc., developers of the revolutionary 247Solar Plant™, today announced that it will present its next-generation CSP (concentrating solar power) technology and associated business opportunities to a worldwide audience at the 10 th World Future Energy Summit, January 16-19, 2017, in Abu Dhabi, UAE.

247Solar CEO Bruce Anderson will demonstrate the complete architecture for 247Solar Plants at an invitation-only symposium on Wednesday, January 18 th , at the Abu Dhabi National Exhibition Center. Unlike photovoltaic solar panels that operate only when the sun shines, 247Solar Plants operate 24/7. They are factory produced modular systems that scale from 400kWe to large utility solar farms.

One of the five subsystems of the 247Solar Plants is a field of mirrors, called heliostats, that track the sun to reflect it to a small device on top of a tower to create the Plant’s high temperature heat. Stellenergy brings to the partnership an innovative heliostat design, which was invented at Stellenbosch University.

The challenge for sustainable power technologies has always been to provide uninterrupted availability, regardless of weather or time of day. Our transformative approach makes this a reality, and we’re thrilled to be able to showcase it at this important global event with Masdar.

Bruce Anderson, CEO

Joining Mr. Anderson will be Dr. Nicolas Calvet, Masdar Institute Assistant Professor of Mechanical Engineering, and Dr. Alexander Ritschel, Head - Applications Development for the Masdar Corporation. Dr. Calvet will open the program with an overview of CSP technology and its potential for the future. Mr. Ritschel will continue with a briefing on the directions that Masdar Corporation is taking with respect to financing renewable energy projects throughout the world.

247Solar is developing an agreement with Masdar Corporation and the Masdar Institute to construct a pilot 247Solar Plant as part of the Institute’s Solar Hub, a state-of- the-art facility to build and test innovative solar thermal systems and thermal storage. The agreement, expected to be finalized in January, will become definitive upon conclusion of funding arrangements for the project, currently in advanced discussions.

About 247Solar Inc.

The 247Solar Plant™ is a game-changing system for firmly-dispatchable, 24/7 power generation and energy storage using concentrated solar power (CSP) technology. It has the potential to produce electricity competitively, without subsidies, with virtually all other new power generation facilities, including fossil, nuclear, or renewable resources.

Technology was originated at MIT, and the US Department of Energy provided funding to develop it with the help of the German Aerospace Center (DLR), WorleyParsons, Fraunhofer Institute, and Saint Gobain.

The 247Solar Plant converts sunlight to heat, which powers turbines to produce electricity. Its proprietary storage system stores energy as heat at a fraction of the cost of batteries, enabling un-interrupted operation. It operates at atmospheric pressure and uses no water/steam, oils or molten salts for reduced complexity, lower cost and minimal environmental impact.

247Solar Plants are quickly assembled and easy to maintain, employing pre-engineered, standardized modules that have few moving parts and use mostly commercially-proven components. Each 247Solar Plant requires as little as 4 acres (16,000 square meters). They can be deployed as a single, off-grid system of 400 kilowatts plus useful process heat, or as large utility-scale farms. 247Solar Plants can be built on uneven ground and have no known environmental drawbacks.

Less expensive to build per kWh than PV, 247Solar Plants can generate electricity as needed, regardless of weather, and improve grid performance by responding instantly to fluctuating power demand. Use of multiple redundant plants in larger systems guarantees 100% uptime. Co-location with PV and wind farms can convert entire facilities from intermittent output to reliable power 24/7/365.

About Masdar Institute

The Masdar Institute of Science and Technology (Masdar Institute) was established by the government of Abu Dhabi as a not-for- profit, private graduate university to develop indigenous R&D capacity in Abu Dhabi addressing issues of importance to the region.

In collaboration with the Massachusetts Institute of Technology (MIT), Masdar Institute has developed an academic and research platform that articulates its mission and vision according to critical energy and sustainability challenges.

An important characteristic of Masdar Institute is its focus on complex real-world problems that require a multidisciplinary approach for the development of solutions from an integrated technology, systems and policy perspective. This multi-interdisciplinary and integrated approach is supported by the structure of its academic programs and by the emphasis placed on engaging external partners from industry, government, and other academic institutions in collaborative activities.

Serving as a key pillar of innovation and human capital, Masdar Institute remains fundamental to Masdar’s core objectives of developing Abu Dhabi’s knowledge economy and finding solutions to humanity’s toughest challenges such as climate change.

Masdar Institute integrates theory and practice to incubate a culture of innovation and entrepreneurship, working to develop the critical thinkers and leaders of tomorrow.  With its world-class faculty and top-tier students, the Institute is committed to finding solutions to the challenges of clean energy and climate change through education and research.

Website: http://www.masdar.ac.ae

For more information, please contact:

Shaima Al Jarman
Director – Marketing & Communications
Public Affairs Department
+971 02 8109365
saljarman@masdar.ac.ae