MGA Thermal
MGA Thermal commercializes proprietary Miscibility Gap Alloy thermal energy storage blocks sold as scalable ETES systems to deliver 24/7 renewable process heat to energy-intensive industrial customers in mining, chemicals, and refining.
- Company typePrivate
- Founded2019
- HeadquartersNewcastle, Australia
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What MGA Thermal does
MGA Thermal is an Australian clean energy company founded in 2019 that commercializes a proprietary thermal energy storage technology based on Miscibility Gap Alloy (MGA). The technology uses MGA Blocks — solid-encapsulated metal alloy particles dispersed in a matrix material that store energy as latent heat via phase change while remaining outwardly solid — to deliver continuous, dispatchable process heat and steam from variable renewable electricity. The core product is the Electro-Thermal Energy Storage (ETES) System, which scales from 5 MWh to 6 GWh+, operates between 150°C and 550°C, achieves up to 93% electricity-to-steam round-trip efficiency, and uniquely supports simultaneous charging and discharging for uninterrupted 24/7 operation. A 5 MWh demonstration unit is operational at the company's Tomago, NSW headquarters and manufacturing site, and a 195 MWh commercial-scale project is in development at Tronox's Kwinana refinery, supported by Knode and GHD.
The company generates revenue through three streams: direct sale of ETES systems to industrial customers, third-party-financed Heat as a Service agreements (used for the Tronox project), and Front-End Engineering and Design (FEED) study services often subsidized by Australian Renewable Energy Agency (ARENA) grants. MGA Thermal sells exclusively through an enterprise field sales model targeting energy-intensive industrial operators in alumina refining, mining, chemicals, building materials, pulp and paper, petroleum refining, and food and beverage, with emerging interest from utilities and IOCs. Customers and partners include Tronox, Chevron, AGL Energy, Orica, Knode, GHD, Varley Group, Main Sequence, IP Group Australia, Shell (via GameChanger), and ARENA. The company has raised over AUD $50M cumulatively across seed, Series A, Series B, and grant funding rounds, with the most recent AUD $17M Series B closed in March 2026 led by IP Group Australia.
MGA Thermal firmographics
Firmographics- Name
- MGA Thermal
- Legal name
- MGA Thermal Pty Ltd
- Website
- https://mgathermal.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- MGA Thermal commercializes proprietary Miscibility Gap Alloy thermal energy storage blocks sold as scalable ETES systems to deliver 24/7 renewable process heat to energy-intensive industrial customers in mining, chemicals, and refining.
- Ownership category
- akta.pro rank
MGA Thermal industry classification
Industry- Product category
- Industrial Thermal Energy Storage
- NAICS
- Power Boiler and Heat Exchanger Manufacturing (33241), Industrial Process Furnace and Oven Manufacturing (333994)
- SIC
- Heating Equipment, Except Electric & Warm Air Furnaces (3433)
- akta.pro primary industry
- Industrial Process Heat TES (Steam, Kilns, Furnaces, Waste-Heat Coupling) (EUAFANAI)
- akta.pro secondary industries
- Thermal LDES (High-Temperature, Molten Salt, Carnot/Heat-to-Power) (EUAFADAC), High-Temperature Solid Media Storage (Bricks, Concrete, Ceramic) (EUAFANAF)
Keywords
Where MGA Thermal is headquartered
LocationHeadquarters
- HQ city
- Newcastle
- HQ country
- Australia
- HQ region
- Oceania
Offices3 records
Markets served
MGA Thermal business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Supply Chain, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Thermal Energy Storage System Sales (Hardware): Direct sale of MGA ETES systems to industrial customers for deployment at their facilities. Systems range from 5 MWh demonstration units to commercial-scale deployments of 180+ MWh. Revenue from equipment supply, installation oversight, and commissioning.
- Heat as a Service (HaaS): Third-party financed commercial model where MGA or a partner owns the equipment on-site and sells heat/steam output to the industrial customer under a long-term service agreement. Removes upfront capital cost for the customer and provides predictable performance-based payments. Tronox Kwinana project uses this model.
- FEED Study Services: Front-End Engineering and Design studies subsidized by ARENA grants. MGA conducts detailed technical design, cost estimates, and commercial strategy assessments for industrial customers evaluating TES deployment. Serves as a precursor to full system sale or HaaS contracts.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | — | Custom industrial system pricing (quote-based) |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels8 records
MGA Thermal product offering
Product offeringCore offering
MGA Thermal designs and manufactures proprietary Miscibility Gap Alloy (MGA) thermal energy storage blocks and full Electro-Thermal Energy Storage (ETES) systems that convert intermittent renewable electricity into continuous 24/7 process heat and steam for industrial customers. The systems range from 5 MWh demonstration units to commercial-scale deployments up to 6 GWh, operating between 150°C and 550°C with up to 93% round-trip efficiency.
Product overview
MGA Thermal offers a suite of long-duration thermal energy storage products and services centered on its proprietary Miscibility Gap Alloy (MGA) technology. The core product is the Electro-Thermal Energy Storage (ETES) System, which uses MGA Blocks as the thermal storage medium to deliver continuous 24/7 renewable process heat, cogeneration, or steam. The company operates a 5 MWh Demonstration Unit and is developing commercial projects including the 195 MWh Tronox project. Additional offerings include FEED study services and Heat as a Service commercial models. The technology addresses industrial heat applications between 150°C and 550°C, scales from 5 MWh to 6 GWh, and achieves up to 93% round-trip efficiency.
Differentiator
Problem solved
Functional benefit
Products and services
- Electro-Thermal Energy Storage (ETES) System Scalable long-duration energy storage system that firms variable renewable generation into a reliable supply of process heat, cogeneration, or steam for industrial users and electricity generation. Achieves up to 93% electricity-to-steam round-trip efficiency and scales from 5 MWh to 6 GWh+.
- MGA Blocks (Miscibility Gap Alloy) Proprietary thermal energy storage material manufactured as modular blocks consisting of metal alloy particles dispersed through a matrix. Particles undergo solid-to-liquid phase change internally while the block remains outwardly solid, storing energy as latent heat with 2-3x higher energy density than traditional sensible heat TES.
- Heat as a Service Third-party financed commercial offering where MGA Thermal or a partner owns the ETES equipment on-site and sells heat/steam output to the industrial customer under a long-term performance-based service agreement, removing the upfront capital cost for the customer.
- FEED Studies Front-End Engineering and Design studies for industrial partners evaluating MGA thermal storage deployment. Includes detailed technical design, costing, and commercial integration assessments to support final investment decisions, often subsidized by ARENA grants.
Quantifiable outcome
- Up to 93% electricity-to-steam round-trip efficiency
- +5 more outcomes
Companies that use MGA Thermal
Customer profileNamed customers5 records
Segments7 records
Ideal customer profiles2 records
MGA Thermal technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
MGA Thermal partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core, flagship and minor.
- GHDcoreGlobal engineering heavyweight supporting the 195 MWh Tronox/Knode FEED study. GHD is providing engineering design and project development expertise for Australia’s largest industrial thermal storage project.
- KnodeflagshipPartnership with Australian company Knode to develop Australia’s largest industrial-scale thermal storage project (195 MWh at Tronox Kwinana). Knode is developing the project and MGA provides the TES technology. A $2.9M ARENA-backed agreement supports the FEED study. Joint pre-feasibility completed August 2025; FEED study commenced May 2026. Construction planned 2027, commercial operation 2028.
- ChevronminorMGA Thermal was selected by Chevron to conduct an initial engineering and design study for an innovative clean steam solution. An early-stage commercial evaluation exploring potential TES deployment at Chevron operations.
- AGL EnergyminorAustralian electricity giant AGL is progressing a feasibility study of MGA technology to be applied to the 200 MW Torrens Island B power station in South Australia, supported by ARENA funding. Study exploring power station retrofit application of MGA ETES technology.
- Varley GroupcoreAustralian manufacturing and engineering company partnered on the demonstration plant project. Manufactured the TES module enclosure and core process equipment for the 5 MWh demonstration unit at Tomago. Provided fabrication, welding, and manufacturing expertise.
- Beyond Zero EmissionsminorAustralian climate change think tank that has recognized MGA Thermal as having a groundbreaking energy storage solution representing the next generation of energy innovators. MGA is cited in BZE publications and networks.
- Australian Academy of Technological Sciences & Engineering (ATSE)minorATSE members visited MGA Thermal as part of their annual regional field trip, learning about the thermal energy storage technology and its role in the energy transition.
- Aratherm / Australian Alliance for Energy ProductivityminorPartnership with Aratherm and the Australian Alliance for Energy Productivity to launch the Heat Battery Estimator tool, an online calculator for Australian manufacturers to evaluate thermal storage vs. gas boiler economics.
- OricaminorMGA team members visited Orica’s site to explore how thermal energy storage technology may help Orica’s operations. Early-stage commercial exploration of decarbonization opportunities for mining chemicals operations.
Scale indicators10 records
Recent moves6 records
Expansion highlights7 records
MGA Thermal competitors and assessment
Company assessmentDirect peers
- Rondo Energy: Rondo Energy is a US-based company developing industrial heat decarbonization solutions using brick-based thermal energy storage. It is a direct competitor to MGA Thermal, serving similar industrial customers with continuous high-temperature heat from renewable electricity. Both companies target the same market of industrial decarbonization via thermal storage.
- Brenmiller Energy: Brenmiller Energy is an Israel-based provider of thermal energy storage solutions for industrial and utility markets using crushed rock storage. It competes directly with MGA Thermal in delivering process heat and steam from renewable sources to industrial customers. Both companies offer modular, scalable TES systems targeting decarbonization of industrial heat.
- Antora Energy: Antora Energy is a US-based company using carbon block thermal storage to deliver industrial heat and electricity. It competes directly with MGA Thermal in the industrial thermal energy storage market, serving similar manufacturing and industrial customers with renewable-derived heat and power.
- 1414 Degrees: 1414 Degrees is an Australian company developing molten salt thermal energy storage for industrial and grid applications. It is a direct competitor to MGA Thermal in the Australian market, targeting similar industrial heat customers and grid-scale storage applications. Both companies are Australian-headquartered TES providers.
- EnergyNest: EnergyNest is a Norway-based company offering thermal battery storage using concrete-based modules for industrial heat applications. It is a direct competitor to MGA Thermal in industrial thermal energy storage, serving similar industries with modular TES solutions. Both companies target industrial decarbonization through high-temperature heat storage.
- Kyoto Group: Kyoto Group is a Norway-based company providing thermal energy storage solutions using molten salt technology for industrial heat decarbonization. It competes with MGA Thermal in the industrial heat market, particularly targeting process steam and heat delivery to industrial customers across Europe and globally.
Emerging players
- Malta Inc. Malta Inc. is a US-based company developing pumped heat energy storage for grid-scale long-duration applications. While it focuses on grid storage rather than industrial heat, it competes with MGA in the long-duration energy storage space. Its thermal-based approach to LDES positions it as an emerging competitor.
- Electrified Thermal Solutions: Electrified Thermal Solutions (ETS) is a US-based startup developing Joule Hive thermal storage technology for industrial decarbonization. It competes with MGA Thermal in delivering industrial heat from renewable sources, though with a different storage medium. Both target the industrial process heat market.
- Highview Power: Highview Power is a UK-based company developing cryogenic liquid air energy storage (LAES) for long-duration grid storage. While it uses a different storage technology (cryogenic), it competes with MGA in the long-duration energy storage market for grid and industrial applications.
Broad incumbents
- Siemens Energy: Siemens Energy is a global energy technology company offering broad portfolio of power generation, transmission, and industrial heat solutions. As a broad incumbent in the energy and industrial decarbonization space, it represents a potential competitor as utilities and industries seek integrated decarbonization solutions.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
MGA Thermal social profiles
Digital presenceMGA Thermal financial estimates
Financial estimateRevenue estimate
Valuation estimate
MGA Thermal leadership team
Management profileNumber of profiles
Profiles12 records
MGA Thermal funding detail
Funding detailFunding overview
Funding rounds8 records
Investors13 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MGA Thermal M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MGA Thermal
What does MGA Thermal do?
MGA Thermal designs and manufactures proprietary Miscibility Gap Alloy (MGA) thermal energy storage blocks and full Electro-Thermal Energy Storage (ETES) systems that convert intermittent renewable electricity into continuous 24/7 process heat and steam for industrial customers. The systems range from 5 MWh demonstration units to commercial-scale deployments up to 6 GWh, operating between 150°C and 550°C with up to 93% round-trip efficiency.
Is MGA Thermal a public or private company?
MGA Thermal is a private company. It is classified as venture growth investor backed and is currently operating.
When was MGA Thermal founded?
MGA Thermal was founded in 2019. It employs 11 to 50 people.
Where is MGA Thermal based?
MGA Thermal is headquartered in Newcastle, Australia, in the Oceania region.
How does MGA Thermal make money?
Three revenue lines are on record. Thermal Energy Storage System Sales (Hardware) is the primary driver. The others are heat as a Service (HaaS) and FEED Study Services.
Who are MGA Thermal's main competitors?
Direct peers on record are Rondo Energy, Brenmiller Energy, Antora Energy, 1414 Degrees, EnergyNest and Kyoto Group. Emerging players are Malta Inc., Electrified Thermal Solutions and Highview Power. Siemens Energy is listed as a broad incumbent.
Does MGA Thermal have an API?
No public API is recorded for MGA Thermal.
What industry is MGA Thermal in?
MGA Thermal's product category is Industrial Thermal Energy Storage. Its primary akta.pro industry code is EUAFANAI, Industrial Process Heat TES (Steam, Kilns, Furnaces, Waste-Heat Coupling), with a secondary code of EUAFADAC, Thermal LDES (High-Temperature, Molten Salt, Carnot/Heat-to-Power). Its NAICS code is 33241 and its SIC code is 3433.