big win

Rice University team breaks records with new sunlight-to-hydrogen device

Rice University engineers have created a device that absorbs light, converts it into electricity, and then uses the electricity to split water molecules and generate hydrogen. Photo courtesy Gustavo Raskoksy/Rice University

A team of Rice University engineers have developed a scalable photoelectrochemical cell that converts sunlight into clean hydrogen at a record-setting pace.

The lab led by Aditya Mohite, an associate professor at Rice, published the findings in a study in Nature Communications late last month, in collaboration with the National Renewable Energy Laboratory, which is backed by the Department of Energy. In it, the team details how they created a device that absorbs light, converts it into electricity, and then uses the electricity to split water molecules and generate hydrogen.

Austin Fehr, a chemical and biomolecular engineering doctoral student at Rice and one of the study’s lead authors, says in a statement that the device "could open up the hydrogen economy and change the way humans make things from fossil fuel to solar fuel."

The device has a high solar-to-hydrogen conversion efficiency rate of 20.8 percent, which has yet to be reached with this type of technology, according to a release from Rice. In addition to its speed, this device is groundbreaking because it uses low-cost metal-halide perovskite semiconductors to power the reaction.

A photoreactor developed by Rice University’s Mohite research group and collaborators achieved a 20.8 percent solar-to-hydrogen conversion efficiency. Photo courtesy Gustavo Raskoksy/Rice University

“Using sunlight as an energy source to manufacture chemicals is one of the largest hurdles to a clean energy economy,” Fehr says in the statement. “Our goal is to build economically feasible platforms that can generate solar-derived fuels. Here, we designed a system that absorbs light and completes electrochemical water-splitting chemistry on its surface.”

To create the device the Mohite lab turned their existing solar cell into a reactor to split water into oxygen and hydrogen. However they continued running into issues with the semiconductors being "extremely unstable in water," according to Rice.

After two years of trials and errors, the team uncovered that by adding two layers of barriers to the semiconductors they were able to reach these record-breaking efficiency rates.

The team has also shown uses for their double barrier design with different semiconductors and for different reactions.

“We hope that such systems will serve as a platform for driving a wide range of electrons to fuel-forming reactions using abundant feedstocks with only sunlight as the energy input,” Mohite says in the statement.

The device joins another game-changing product shared in a Rice research study in recent weeks. Last month, a Rice University lab led by Haotian Wang, the William Marsh Rice Trustee Chair and an associate professor at Rice, shared their findings on how their simple plug-and-play device removes carbon dioxide from air capture to induce a water-and-oxygen-based electrochemical reaction.

Rice also recently opened registration for its 20th anniversary of Energy Tech Venture Day. Click here to register for the event on Sept. 21.

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A View From HETI

Fervo Energy has closed financing to support the remaining construction costs for the first phase of Cape Station. Photo via fervoenergy.com

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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