MGA Thermal is a company focused on revolutionizing energy storage with a proprietary thermal energy storage technology that enables efficient and scalable power solutions. Using specially engineered materials, MGA captures and stores excess renewable energy as heat, which can be converted back into electricity when needed. This approach supports industries and power grids in balancing supply and demand, reducing reliance on fossil fuels, and ensuring energy security. By offering a scalable and efficient way to store energy, the company helps accelerate the transition to a cleaner and more resilient energy system.
In Conversation with Mark Croudace, CEO of MGA Thermal
What inspired you to focus on thermal energy storage?
I have always been passionate about solving real-world energy challenges. Energy storage is one of the biggest barriers to fully utilizing renewable power, and I saw an opportunity to develop a solution that could store excess energy in a way that is both practical and economical. Thermal energy storage allows us to repurpose existing infrastructure while supporting the growing need for clean energy. Our goal is to make renewable energy available when it is needed most, without the limitations of traditional storage methods.
How does MGA Thermal's technology work?
We use specially designed materials that absorb and store heat efficiently. When excess energy is available, the system captures it and stores it in the form of thermal energy. When power is required, the stored heat is released and converted back into electricity using steam turbines or other industrial processes. This method is highly efficient, has a long lifespan, and is well-suited for integration with renewable energy sources. It provides a stable and predictable way to store and dispatch energy at scale.
What industries benefit most from this technology?
Our technology is valuable for industries that require consistent and reliable energy, such as manufacturing, mining, and utilities. Power plants transitioning away from fossil fuels can use our solution to store and supply renewable energy on demand. It also benefits remote communities and regions where grid reliability is a challenge. By offering a flexible and sustainable energy storage option, we support industries in reducing costs and improving efficiency while cutting carbon emissions.
What are some challenges in bringing this technology to market?
One of the main challenges is scaling production to meet the increasing demand for energy storage solutions. We are constantly working on improving our manufacturing capabilities to ensure we can deliver our technology to a wide range of customers. Another challenge is educating industries and policymakers about the benefits of thermal energy storage. While lithium-ion batteries are well-known, many decision-makers are still learning about the advantages of long-duration thermal storage. We are focused on demonstrating the real-world benefits through pilot projects and partnerships.
How does MGA Thermal compare to other energy storage solutions?
Our approach provides a longer lifespan and lower cost compared to many battery-based storage solutions. Unlike lithium-ion batteries, which degrade over time and require rare materials, our technology is built for durability and sustainability. It also integrates seamlessly with existing energy infrastructure, making it easier for industries to adopt without significant retrofitting. While different storage technologies serve different needs, thermal energy storage offers a reliable and scalable option for long-duration energy storage.
What kind of response have you received from the industry?
The response has been overwhelmingly positive. Many industries are actively seeking alternatives to conventional energy storage solutions, and our technology provides a practical and effective option. We have received strong interest from energy providers, manufacturers, and policymakers who recognize the need for more reliable storage to support the transition to renewables. Our ongoing collaborations with industry leaders reinforce the confidence that this solution can play a significant role in the future of energy storage.
How does your team approach innovation and development?
We prioritize research and collaboration, working with experts in materials science, engineering, and energy markets to refine and enhance our technology. Our team is dedicated to continuous improvement, ensuring that we stay ahead of industry needs. We also actively engage with customers and partners to understand their challenges and tailor our solutions to meet real-world demands. By maintaining a strong focus on both technical excellence and practical application, we ensure that our technology delivers meaningful benefits.
What are your long-term goals for MGA Thermal?
We aim to expand our reach and deploy our technology globally, helping industries and communities transition to more sustainable energy systems. We are focused on scaling production, forging strategic partnerships, and advocating for policies that support innovative storage solutions. Our mission is to provide a reliable, cost-effective, and sustainable energy storage option that contributes to a cleaner future. By continuing to push the boundaries of thermal energy storage, we hope to play a key role in the global shift toward renewable energy.
How do you see the future of energy storage evolving?
Energy storage is becoming an essential component of the global energy transition. As renewable energy sources continue to grow, the need for effective and scalable storage solutions will only increase. I believe we will see a diversification of storage technologies, with thermal energy storage playing a major role alongside batteries and other emerging solutions. The focus will be on sustainability, efficiency, and affordability, ensuring that clean energy is available when and where it is needed most. We are committed to driving this progress and ensuring that our technology contributes to a more sustainable energy landscape.
Mark Croudace, CEO, MGA Thermal
