Heliogen Stock is a Risky Play on Concentrated Solar

The emergence of special purpose acquisition companies (SPACs) has paved the way for financiers to make boatloads of cash very quickly, companies to raise massive amounts of funding very quickly, all while the retail investor gets the short end of the stick. We’ve covered more than 40 SPACs, and what they all have in common are wildly optimistic growth forecasts that are in some cases just laughable. You can’t blame companies for making hay while the sun shines, and it’s that same sun that Heliogen is using to turn concentrated solar power into something that’s economically viable. Now, they’re merging with a SPAC called Athena Technology Acquisition Corp. (ATHN). 

About Concentrated Solar Power

We’re all familiar with how solar panels capture energy from the sun which can then be used to power all the gadgetry contained within those trendy $120,000 Mercedes vans you see everyone driving these days. That’s the traditional way that solar power has been captured. If you’ve ever used a magnifying glass to fry ants start a fire, you’ll be familiar with the other method used to extract renewable energy from the sun. Concentrated solar power (CSP) involves using loads of mirrors (heliostats) to reflect the sun onto a single point (a receiver) that heats up and then generates power.