$3.25M FEED Grant to Accelerate MGA Thermal’s Industrial Uptake

MGA Thermal has been awarded $3.25 million in funding from the Australian Renewable Energy Agency (ARENA) to support up to five Front-End Engineering and Design (FEED) studies for industrial partners seeking to deploy MGA Thermal’s breakthrough thermal energy storage technology.

The funding - provided under ARENA’s Powering the Regions: Industrial Transformation Stream - will heavily subsidise FEED study costs, significantly reducing early-stage financial barriers for industrial and manufacturing customers exploring opportunities to shift away from fossil fuels with MGA Thermal.

The FEED program will enable detailed engineering, costing, and integration assessments for thermal storage systems across a range of industrial heat applications. The initiative will accelerate commercial adoption of MGA Thermal’s technology and support Australian Industrials in cutting both energy costs and carbon emissions.

Mark Croudace, CEO of MGA Thermal, said the ARENA support is a strong endorsement of the company’s technology and its significant role in Australia’s industrial transformation.

“This funding represents continued traction for MGA Thermal and provides an opportunity for industrial partners looking to decarbonise their operations.

ARENA’s backing gives industry the capacity to move forward with technical and commercial certainty enabling investment in thermal storage projects. We’re excited to work with forward thinking Industrials who are ready to lead their transition.”

The FEED studies will focus on industrial facilities with significant process heat requirements, where thermal storage can displace fossil fuel consumption.

Will Furness, Business Development Manager, said the funding directly addresses one of the biggest barriers to industrial decarbonisation: early-stage capital constraints for development activities.

“For many industrials, a challenge is securing the budget required to properly evaluate technologies. ARENA’s support lowers the cost of FEED studies and allows us to work closely with partners to build robust, site-specific business cases that demonstrate the commercial and operational value of thermal storage. It’s a catalyst for real, near-term action.”

MGA Thermal will commence FEED studies in early 2026, with outcomes expected to inform final investment decisions for multiple industrial decarbonisation projects across Australia.