MGA Thermal Secures $11.9 Million to Scale Long-Duration Thermal Storage for Industrial Decarbonisation
Image: MGA Thermal
Australia-based MGA Thermal has raised $11.9 million (AUD 17 million) in new investment to accelerate the commercial deployment of its long-duration thermal energy storage (TES) technology, targeting the decarbonisation of industrial heat.
The funding round was led by IP Group Australia, with continued backing from Main Sequence. MGA Thermal said the capital will support its transition from pilot projects to full-scale commercial rollout, including workforce expansion, manufacturing scale-up, and the delivery of new customer projects over the next two years.
“We are entering a period of rapid scale-up, expanding our commercial capability, growing manufacturing, and delivering projects that help industry decarbonise at speed,” said Mark Croudace. “Partnering with IP Group, alongside continued support from Main Sequence, gives us the global reach and deep-tech expertise we need.”
MGA Thermal’s solution is built around its proprietary miscibility gap alloy (MGA) block technology, which stores energy as latent heat. The system uses blocks primarily composed of aluminium and graphite, enabling energy to be stored through a solid-to-liquid phase change and later released as industrial-grade heat or steam.
When powered by renewable electricity, the alloy particles melt to absorb energy, which can then be dispatched as continuous steam for industrial processes. This positions the technology as a potential alternative to fossil fuel-based heat in sectors such as manufacturing and processing.
According to the company, its storage blocks can deliver up to 200% more energy than conventional heat storage systems, while requiring significantly less space—up to 24 times smaller than battery-based solutions.
“MGA Thermal is addressing one of the most critical challenges in the energy transition: delivering reliable, low-cost, industrial-scale storage for renewable heat,” said Shane Meaney. “Industrial heat is the next frontier of decarbonisation, and MGA’s technology can deliver it around the clock at lower cost.”
The investment follows several key milestones for the company, including the commissioning of a 5 MWh thermal demonstration unit at its headquarters in Tomago. MGA Thermal has also completed a pre-feasibility study for a 180 MWh TES project designed to supply 20 tonnes per hour of steam to an industrial facility in Western Australia.
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