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Class Editori News

Magaldi signed an agreement with Mitsubishi to store solar thermal energy

October 10, 2019


Abstract : Magaldi celebrates its 90 years of activity by signing an agreement with Mitsubishi to develop new technologies for solar energy.

MILAN, Oct. 8 (Class Editori) -- Magaldi celebrates its 90 years of activity by signing an agreement with Mitsubishi to develop new technologies for solar energy. The agreement "directs us more and more on the international dimension in the renewable energy sector," explained Mario Magaldi, managing director of the group.

The agreement provides for the STEM (Solar Thermo Electric Magaldi) industrial technology development to store high temperature solar thermal energy for the electric power production and for the industrial and civil use of thermal energy, produced by renewable sources. The group developed and patented the first system in the world able to use sand as a mean to store solar thermal energy, making it available also in absence of sun light.

In 1994, Magaldi granted license for MAC installations at the Kawasaki Heavy Industries. The agreement, still in force after 25 years, now involves a new patent for the dry ice hash extraction from waste incinerators.

Founded in 1929, the group manufactures steel conveyor belts to handle materials in complex process conditions – high temperature, heavy, dusty, abrasive or with harsh chemicals materials, used in solid-fuel thermal power plants, foundries, steel plants, mineral transformation plants, cement plants, thermodenstruction plants and biomass power plants, with over 1.200 installations all over the world. Recently, it expanded its activities to the renewable energies with Magaldi Power, which generates the 50% of its turnover in the Asian market.

Today, the company has for subsidiaries in Australia, Germany, India and the United States and carries out projects in 40 countries all over the world, where it exports the 90% of its turnover. "Our attitude to innovation is the engine that allows us to keep a global leading role in the sectors we operate in, ensuring the realization of value for our stakeholders of reference and supporting the development of the territories in which we operate," added Magaldi. Therefore, research and development are key areas for which the company invests almost 9% a year.

(Source:Class Editori)

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Keyword: renewable energy solar energy

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