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There are lots of big reasons to invest in HB11 Energy. Here are just a few.
Never before in history has there been a greater need for a new source of energy.
Public awareness about climate change is growing.
This was recently recognised by the President of the European Commission, Dr. Ursula von der Leyen, who made decarbonisation of energy generation and associated investment one of her two main priorities after describing climate change as an “an existential issue for Europe – and for the world” in her inaugural speech (link).
It has also been reflected in political activity as 185 nations have ratified the Paris Agreement that aims to limit global temperature increases to 1.5°C above pre-industrial levels, primarily by limiting carbon emissions globally.
Some of the first actions from the Paris Agreement include; France announcing a plan to ban all petrol and diesel vehicles in 2040 and that they would no longer use coal to produce electricity after 2022. Norway and the Netherlands announcing that they will ban the sale of petrol and diesel-powered cars by 2025 and 2030, respectively.
Despite the humanitarian benefits of addressing climate change, meeting the Paris agreement is estimated to cost between 1 to 1.3% global GDP (€33 trillion to €46 trillion) to meet the 1.5°C target .
While the obvious existing alternate carbon-free energy sources are renewables and fission nuclear, both have limitations. Renewables energy capacity is limited. It is also intermittent and often not centralised making it rely more heavily on storage, distribution and transmission, adding significantly to the cost required for its use. Nuclear fission remains the most viable alternative, currently accounting for 32% of low carbon power production worldwide (50% in the EU and USA). However, cost, safety and environmental concerns remain the key issues with its adoption.
Demonstrating HB11 Energy approach will have global significance as it would present the most promising solution to limiting the world’s carbon emissions. It will not share the same cost, safety, environmental, distribution or storage issues faced by renewables and fission nuclear power. These, and other benefits, are described in Competitive Advantage.
Given these significant benefits, we expect there to be significant new opportunities to partner with governments worldwide as they look for a new carbon-free energy source. For instance, in Australia a $A22 billion annual investment has been flagged as its means of achieving net-zero emissions by 2050 (link).
Such activities will provide many opportunities for non-dilutive funding against which investment funds may be leveraged.
Our Competitive Advantage
Advantages of the HB11 fusion reaction are significant and well understood by the nuclear energy community. Specifically benefits of HB11 Energy’s approach include:
- It is carbon neutral
- Cheaper – early estimates predict costs will be about ¼ that of coal fired power.
- The fuel is abundant – Boron 11 comprises approximately 80% of all boron found in nature and is easily available in open pit mines.
- Fuels and waste are safe – In addition to hydrogen, Boron 11 is a stable isotope meaning that, unlike the rare and expensive tritium used in many current fusion approaches, it is non-radioactive and is therefore safe. In addition, the fusion reaction is safe as it doesn’t generate harmful neutrons or radioactive waste. There is a possibility that unwanted secondary reactions will take place that would create very low levels of radiation, which can be managed. Understanding whether these reactions exist and their implications will be a subject of our experimental program.
- Free from the risk of melt-down – As the design of the reactor ignites only a small volume of fuel (before another is loaded) there is no risk of an uncontrolled reaction. There is no need for large scale external cooling, such as that required from fission nuclear power.
- Not intermittent – Reducing the need for a battery infrastructure as with solar and wind energy.
- Direct electricity generation from the reaction means there is no need for steam turbines to operate a generator, as required with all other nuclear or fossil fuel burning plants. This allows for:
- Lower infrastructure costs.
The International Energy Agency quoted the global power sector investment is above $US700B annually. Given the competitive advantage of HB11 Energy’s approach, its introduction will be disruptive to this entire industry opening the opportunity to take a large share of this market, an opportunity to reach annual revenues in the order of $100B. In addition, there is anticipated demand from other markets that are off the power grid, as the reactors could be integrated into ships and submarines, which are now commonly driven by electric engines.
There will also be opportunities to out-licence new intellectual property generated during the experimental program for interstellar space craft propulsion. The very high energy density (low weight) of the fuels makes it ideal for transport into space. The mode of propulsion is directly from the reaction, where the conservation of momentum of the very high energy alpha particle explosion into space could propel a space craft in the opposite direction.