FeX Energy

FeX Energy is a Canadian clean technology company developing an iron-based thermochemical energy storage system for industrial electrification. The company's Iron Arc Reactor converts low-cost, intermittent electricity into sustained high-temperature heat (up to 900°C) stored in solid iron, which releases energy on demand through a controlled oxidation reaction. The technology, spun out of McGill University's Alternative Fuels Laboratory under Professor Jeffrey Bergthorson following over 15 years of research, addresses a critical gap in industrial decarbonization: most electrification infrastructure is designed for short-duration electricity delivery, not the sustained high-temperature heat required for processes like drying, calcination, steam generation, and material production. FeX's containerized, modular systems are designed for industrial operations, remote and off-grid sites, and campuses, with a target levelized cost of storage of approximately $0.05/kWh. The company was founded in 2023 and is headquartered in Montreal, Quebec, with backing from Antares Ventures, the Government of Canada, and NRCan.