The THERMOCASE project focused on identifying viable industrial applications for its thermal energy storage system. The key technical activities and achievements are outlined:
Market Segmentation and Sector Selection: A comprehensive analysis of industrial heat demand was conducted. This led to the identification of key industries, including non-metallic minerals, iron and steel, and food and beverage.
Engagement with Potential Users: Outreach efforts targeted companies in the selected sectors to assess their needs and gauge interest in the technology. Multiple meetings were held with stakeholders, and data collection efforts resulted in the selection of the iron and steel sector as the primary candidate for further business case development. Three dedicated pitch presentations were created, for a Steel company, a Ceramics company, and an ESCO to present the company, our technology and the opportunity of performing this study.
The short list of the industrial stakeholders is the following: a steel company provided data after signing an NDA, while a Cement company is pending NDA approval. Meetings with a food processing factory revealed their processes require lower temperatures. With another steel company and a steel tubes association we had in-person meetings but did not follow up. Three more industrial stakeholders were contacted via phone or email but did not respond (a steam boilers manufacturer, a ceramic furnaces manufacturer and an iron company). These interactions provided insights into potential industrial applications and adoption challenges.
Assessment and Data Collection: A detailed evaluation of energy demand, cost structures, and system integration requirements was carried out with a multinational steel company as the reference partner. Time-series data for steam consumption were processed, and cost estimates for energy inputs, system components, and installation were compiled. This informed the design of a full-scale thermal battery unit, estimated at 24.8 MWh capacity with a 1.2 MW thermal power output.
Business Model and Battery sizing: A functional unit of the battery was designed to discharge at 300°C, sufficient to generate steam at 16 bara. The optimal battery size for integration was determined to be 24.8 MWh with a thermal power output of 1.2 MW, able to cover 12.5% of the steam consumption. The business model proposed involves collaboration with an Energy Service Company (ESCO) that manages energy supply at the user's facility. Thermophoton would act as the technology provider, leasing the battery to the ESCO. Economic viability was assessed based on shared energy savings between the ESCO and the industrial user, with a 10-year contract framework. Sensitivity analyses were performed by adjusting cost-sharing percentages.
Three pricing scenarios were modeled to estimate annual savings:
1. Fixed-price Power Purchase Agreement (PPA)
2. Monthly average of hourly wholesale electricity prices
3. Real-time 2024 wholesale electricity prices with operational optimization
Results:
• Fixed-price PPA: Not financially viable.
• Monthly average market prices: Project viability achieved, with annual savings of €131,211. Net Present Value (NPV) for Thermophoton: €93,738 (10 years), Internal Rate of Return (IRR): 10.4%, Return on Investment (ROI): 37%.
• Real-time market-based operation: Most promising scenario, with annual savings of €147,136. NPV: €135,457, IRR: 13%, ROI: 54%.
Modeling and System Optimization: A TRNSYS model was created to simulate battery operation and steam generation. However, the model presents limitations in the representation of the PCM thermophysical behavior. Future refinements will integrate improved PCM models and prototype operation data from the THERMOBAT project. Therefore, a simplified hourly quasi-static model was used for aggregated energy demand and supply for the present economic analysis.
