Aramco & Rondo Energy sign 1GW thermal storage MOU

May 21, 2024

Energy & chemicals company Aramco has entered into a memorandum of understanding (MoU) with thermal storage company Rondo Energy and started engineering studies for a “first industrial scale deployment” of up to 1GW of Rondo heat batteries at Aramco facilities.

The companies will also explore joint development of “novel applications of the Rondo heat battery technology, such as hydrogen production and carbon capture”, a statement said.

Aramco Ventures made an equity investment in Rondo in July 2023.

“Aramco has stated its ambitions to achieve Net Zero Scope 1 and Scope 2 operational greenhouse gas emissions by 2050 across its wholly owned and operated assets, and sees opportunities to build substantial lower-carbon new energy business,” said Ali Al-Meshari, Aramco senior vice president of technology, oversight & coordination. “Innovative technologies deployed at scale are needed to reduce the costs of emissions reduction, and we are investing heavily in developing these through our R&D, venture capital and technology deployment programs. We see Rondo’s technology having widespread potential application globally and in the Middle east specifically, backed by a team with a track record of delivery.”

Rondo CEO John O’Donnell, added: “Rondo is working with one of the world’s biggest energy producers towards solving one of the world’s biggest energy challenges – low-cost clean energy for industry. We’re thrilled to announce this MoU with Aramco aimed at delivering lower-carbon energy solutions that can help Aramco achieve their decarbonisation ambitions, and support the world’s critical needs for solar desalination and clean hydrogen.”