Element 16 Technologies
Developer of sulfur-based thermal batteries for industrial heat and power generation.
Website: https://element16.com
Cover Block
From the public record
| Attribute | Value |
|---|---|
| Name | Element 16 Technologies |
| Tagline | Developer of sulfur-based thermal batteries for industrial heat and power generation. |
| Headquarters | California, US |
| Founded | 2016 |
| Stage | Seed |
| Business Model | B2B |
| Industry | Cleantech / Climatetech |
| Technology | Hardware |
| Geography | North America |
| Growth Profile | Venture Scale |
| Founding Team | Academic Spinout |
| Funding Label | Seed |
| Total Disclosed | $2.62M |
Links
From the public record
- Website: https://element16.com/about-us
- LinkedIn: https://www.linkedin.com/company/element-16
The Short Version
From the public record Element 16 Technologies is developing sulfur-based thermal batteries, a hardware solution for storing and dispatching high-temperature industrial heat, which addresses a critical bottleneck in decarbonizing heavy industry. The company, a 2016 spinout from UCLA research, has progressed through grant-funded pilot demonstrations and secured design contracts, positioning it to commercialize a technology that could replace conventional molten-salt systems with a potentially lower-cost alternative [UCLA Samueli School of Engineering, August 2017] [California Energy Commission, 2025].
Its core product stores heat in liquid sulfur, delivering it as process steam or usable thermal energy to facilities like chemical plants, offering a path to cut fuel costs and emissions without waiting for new renewable infrastructure [Element 16]. The founding team combines academic depth, with co-founder and scientific adviser Richard Wirz being a UCLA professor, and applied research leadership from CTO Hamarz Aryafar, who has led government-funded demonstration projects [Element 16] [UCLA Samueli School of Engineering, August 2017].
Financing has been grant-heavy, with over $6 million in research and development funding confirmed from entities like the California Energy Commission, though public databases show conflicting totals and a lack of a clear, sizable venture round [California Energy Commission, 2025] [PitchBook]. The business model targets industrial customers seeking dispatchable heat, with early validation coming from a $500,000 design contract with an unnamed large chemical processor [California Energy Commission, 2025].
The next 12-18 months will be defined by the company's ability to convert its pilot success and design work into named, commercial-scale deployments, while likely seeking more structured venture capital to fund manufacturing scale-up. Single-source, plausible -- Core product and founding details are well-sourced; grant totals are corroborated by a government report, but overall capitalization lacks a single authoritative figure.
Taxonomy Snapshot
| Axis | Classification |
|---|---|
| Stage | Seed |
| Business Model | B2B |
| Industry / Vertical | Cleantech / Climatetech |
| Technology Type | Hardware |
| Geography | North America |
| Growth Profile | Venture Scale |
| Founding Team | Academic Spinout |
| Funding | Seed |
The Company in Brief
From the public record
Element 16 Technologies was founded in California in April 2016 as a spinout from research conducted at the University of California, Los Angeles [UCLA Samueli School of Engineering, August 2017]. The company’s formation was driven by the work of co-founder Richard Wirz, an associate professor in UCLA’s Mechanical and Aerospace Engineering department, and his student, Parker Wells, who became the founding CEO [Element 16]. The company’s headquarters remain in California, though a specific city is not consistently listed in public filings.
The company’s early trajectory was defined by non-dilutive grant funding, a common path for hardware-intensive cleantech ventures. Its first significant milestone was an August 2017 award of a $1.5 million grant from the California Energy Commission to construct and install a pilot plant demonstrating its sulfur-based thermal storage technology [UCLA Samueli School of Engineering, August 2017]. This was followed by participation in several accelerator programs, including Techstars, Creative Destruction Lab, and MassChallenge, as noted in public databases [PitchBook].
Subsequent development has been supported by a series of government and corporate grants. A 2025 report from the California Energy Commission states the project had secured over $6 million in cumulative research, development, and commercialization funding, including a design contract worth approximately $500,000 with a large, unnamed industrial chemical processor [California Energy Commission, 2025]. Public databases, however, show conflicting totals for capital raised, with figures ranging from $120,000 to $7.7 million, indicating a lack of a single, authoritative public disclosure for conventional equity financing [PitchBook].
Single-source, plausible -- Founding details and key grants are confirmed by university and government sources, but total funding figures are inconsistent across commercial databases.
What They Have Built
Mixed sourcing
Element 16's core offering is a thermal battery, but one that uses molten sulfur as its storage medium instead of the more common molten salts. The system is designed to capture high-temperature heat from sources like industrial waste heat or concentrated solar power, store it in insulated tanks of liquid sulfur, and later dispatch it as process steam or direct heat for industrial applications [Element 16]. The company's stated wedge is replacing conventional molten-salt or thermal-oil storage systems, which it positions as a lower-cost alternative for delivering high-quality thermal energy [Start Up Energy Transition] [California Energy Commission].
The technology originated from UCLA research, specifically from the lab of co-founder and scientific advisor Richard Wirz, an associate professor of Mechanical and Aerospace Engineering [UCLA Samueli School of Engineering, August 2017]. A key public demonstration was a pilot plant constructed with a $1.5 million grant from the California Energy Commission, which the university described as successful [UCLA Samueli School of Engineering, August 2017]. The system's application appears focused on industrial process steam and flexible power-plant operation, targeting facilities that need dispatchable heat to cut fuel costs and emissions without waiting for new renewable infrastructure [Start Up Energy Transition] [Karthik Nithyanandam - Element 16 Technologies | LinkedIn].
Beyond the core sulfur battery, the team has also demonstrated related thermochemical storage concepts. Technical leader Hamarz Aryafar led a successful demonstration of a thermochemical hydrogen-energy-storage technology backed by a $1.6 million grant from the U.S. Department of Energy's ARPA-E program [The Org]. This suggests a research capability in adjacent high-temperature energy storage chemistries, though the company's primary commercial focus remains the sulfur-based thermal battery for industrial heat.
Single-source, plausible -- Core product claims are consistent across the company website and university press. Technical details and performance specifications are not publicly quantified.
Market Size and Demand
From the public record The market for industrial thermal energy storage is moving from a niche engineering challenge to a central pillar of industrial decarbonization, driven by the convergence of volatile energy prices, tightening emissions regulations, and the intermittent nature of renewable power.
Third-party sizing for the specific sulfur-based thermal battery segment is not publicly available. However, the broader industrial heat market provides a relevant analog. According to a 2025 report from the California Energy Commission, industrial process heat accounts for approximately two-thirds of all industrial energy demand and roughly one-fifth of total U.S. energy consumption [California Energy Commission, 2025]. The International Energy Agency (IEA) has separately estimated the global market for industrial heat generation to be worth hundreds of billions of dollars annually, with a significant portion addressable by storage solutions that enable fuel switching and load shifting [IEA]. The served addressable market for Element 16 is a subset focused on high-temperature (above 300°C) steam and process heat applications within industries like chemicals, refining, and food processing.
Demand is anchored by two primary, cited drivers. First, industrial operators face increasing pressure to reduce Scope 1 emissions from onsite fuel combustion, with corporate net-zero pledges and potential carbon border adjustments creating a tangible compliance motive [California Energy Commission, 2025]. Second, the economics of behind-the-meter renewable generation, particularly solar, improve dramatically when paired with storage that can time-shift thermal energy to evening or overnight production cycles. A 2025 California Energy Commission analysis noted that thermal storage can "reduce fuel costs and emissions without waiting on new renewable infrastructure" by allowing facilities to store excess daytime heat for later use [California Energy Commission, 2025].
Key adjacent and substitute markets present both competition and validation. The most direct substitute is conventional thermal storage using molten salts or thermal oils, a technology with established use in concentrated solar power but with noted limitations in cost and temperature range that Element 16's sulfur system aims to address [UCLA Samueli School of Engineering, August 2017]. Electrification of heat via industrial heat pumps represents a parallel decarbonization pathway, though it is typically constrained to lower temperature ranges and places significant demand on grid capacity. Hydrogen combustion for high-temperature heat is a longer-term, higher-cost alternative that remains dependent on the development of a green hydrogen supply chain.
Regulatory and macro forces are broadly supportive but carry implementation risk. In the United States, the Inflation Reduction Act's (IRA) production and investment tax credits extend to energy storage and could improve project economics. California's load-serving entities and the California Energy Commission have been active funders of pilot demonstrations, as evidenced by Element 16's own grant history [UCLA Samueli School of Engineering, August 2017]. However, the pace of industrial adoption will be influenced by the granularity of future emissions regulations and the stability of incentives, which remain subject to political cycles.
| Metric | Value |
|---|---|
| Industrial Process Heat (U.S. Energy Demand) | 20 % |
| Addressable High-Temp Industrial Heat (Analogous Segment) | 65 % of Industrial Demand |
The chart illustrates the substantial portion of total energy use tied to industrial heat, underscoring the scale of the decarbonization challenge. The high-temperature segment represents the core technical and economic wedge for thermal battery technologies.
Single-source, plausible -- Market sizing relies on analogous reports from the IEA and California Energy Commission; specific TAM for sulfur thermal batteries is not independently verified.
Who Else Is Fighting for This
Mixed sourcing Element 16 Technologies operates in a hardware-intensive niche where competition is defined by the energy vector being stored and the end-use application, rather than by direct, like-for-like startup rivals.
The company's primary competition comes from incumbent thermal storage technologies and adjacent energy storage solutions that serve overlapping industrial and power generation customers. The analysis proceeds on a segment-by-segment basis.
In the core market for industrial process heat, the most direct substitutes are conventional molten-salt and thermal-oil storage systems, which are mature but have limitations in cost and temperature range. Element 16's stated differentiation rests on the use of sulfur, which the company claims offers a lower-cost, higher-temperature alternative [Element 16]. The primary incumbent challenge here is not another startup, but the inertia of established engineering specifications and the capital cost of retrofitting existing plant infrastructure. For flexible power generation, the competitive set broadens to include lithium-ion batteries for short-duration grid services and hydrogen for longer-duration storage. These are not thermal storage solutions, but they compete for the same capital budget earmarked for grid flexibility and decarbonization.
Element 16's defensible edge today is rooted in its academic IP and non-dilutive grant funding. The technology originated from UCLA research, and the team maintains close ties to the university's engineering department [UCLA Samueli School of Engineering, August 2017]. This has facilitated access to significant public grants, including over $6 million from the California Energy Commission and others for research and pilot demonstrations [California Energy Commission, 2025]. This edge is durable insofar as the company continues to advance its technology and secure follow-on grant or contract funding, but it is perishable if the transition to commercial sales stalls, leaving the venture reliant on a funding source that may not scale.
The company's most significant exposure is its apparent lack of a named, commercial-scale reference customer. While a 2025 report notes a $500,000 design contract with a large, unnamed industrial chemical processor, the absence of a public deployment with a brand-name partner leaves the commercial value proposition unproven to the broader market [California Energy Commission, 2025]. This creates vulnerability. A well-funded competitor with a similar molten-salt technology that lands a flagship deal with a major manufacturer could rapidly capture market mindshare and channel partnerships, effectively boxing out Element 16 before it establishes its own commercial beachhead.
The most plausible 18-month competitive scenario hinges on the first commercial deployment. If Element 16 successfully commissions its sulfur thermal battery at a known industrial site, it would validate the technology's economic and operational claims, likely attracting strategic partners and its first institutional venture round. In this scenario, the "winner" would be Element 16, securing a first-mover advantage in a specific industrial niche. Conversely, if deployment is delayed and a competitor like Malta Inc. (a Google X spin-out developing a molten-salt-based system) or a large industrial conglomerate advances a similar solution, the "loser" would be Element 16, which could find itself relegated to a perpetual R&D and grant-chasing entity, unable to transition to a product-driven business.
Opportunity
From the public record The prize for Element 16 Technologies is a foundational role in the decarbonization of industrial heat, a multi-hundred-billion-dollar problem that has few proven, cost-effective solutions.
The headline opportunity is to become the default thermal battery for heavy industry, replacing fossil-fired boilers and less efficient storage media like molten salts. The company's cited evidence points to a reachable, not merely aspirational, outcome: its sulfur-based system has already secured over $6 million in government and industrial funding for development and demonstration, including a $1.5 million grant for a pilot plant [UCLA Samueli School of Engineering, August 2017] and a $500,000 design contract with a major chemical processor [California Energy Commission, 2025]. This early validation from both public agencies and a potential customer signals that the core technology addresses a recognized need for dispatchable, high-temperature heat storage. The commercial wedge is industrial process steam, a massive and immediate market where customers face direct cost and regulatory pressure to reduce emissions, providing a clearer path to initial sales than more speculative grid-scale storage plays [Start Up Energy Transition].
Growth will likely follow one of several concrete, high-stakes paths. The scenarios below outline plausible routes to scale.
| Scenario | What happens | Catalyst | Why it's plausible |
|---|---|---|---|
| Industrial Anchor Adoption | A major chemical or refining company deploys a full-scale system, creating a flagship reference site. | The unnamed "large industrial chemical processor" that paid for a design study opts for a commercial deployment. | The company has already been paid for a design contract, indicating serious commercial interest [California Energy Commission, 2025]. Industrial players often move slowly but decisively after successful pilot studies. |
| Utility-Led Fleet Deployment | A gas utility like Southern California Gas, an early funder, integrates the technology into its portfolio for customer decarbonization programs. | A new state mandate or incentive program for industrial electrification or renewable thermal energy creates urgent demand. | Southern California Gas was an early funder of the technology [UCLA Samueli School of Engineering, August 2017]. Utilities have the capital and customer relationships to scale proven solutions rapidly under regulatory pressure. |
| Technology Licensing to OEMs | Element 16 pivots to a capital-light model, licensing its sulfur battery design to engineering and construction firms for integration into larger plants. | The company secures a partnership with a major plant engineering firm (e.g., AECOM, Fluor) through its accelerator network (Techstars, Creative Destruction Lab). | The company's participation in multiple high-profile accelerators provides a network of potential corporate partners [PitchBook]. Licensing can accelerate market penetration without the capital intensity of full EPC responsibilities. |
What compounding looks like for Element 16 is a classic hardware-enabled learning curve. Each deployment generates proprietary operational data on sulfur behavior, corrosion management, and system integration at scale. This data improves the next system's design, lowering cost and improving reliability, which in turn wins more projects. The company's technical leadership, including CTO Hamarz Aryafar who led a successful DOE-backed demonstration [The Org], is positioned to capture these learnings. Furthermore, early adopters in process-heavy industries like chemicals and refining tend to be geographically clustered; a single reference site in a key industrial corridor can lead to repeat business from neighboring facilities, creating a regional density effect that reduces sales and service costs.
The size of the win, in a bullish scenario, can be framed by looking at comparable infrastructure plays in adjacent energy storage markets. For instance, public companies focused on long-duration energy storage for the grid, like Form Energy, have achieved valuations in the billions of dollars based on the potential of their technology to address a specific, massive segment of the energy transition. While Element 16's focus is thermal, not electrical, the underlying market need is similarly vast. A 2025 California Energy Commission report notes the sulfur-thermal-battery project secured significant funding, indicating institutional belief in its potential scale [California Energy Commission, 2025]. If the Industrial Anchor Adoption scenario plays out and the technology achieves even a single-digit percentage penetration of the industrial process heat market, the company could command a valuation comparable to other venture-scale hardware climatetech leaders. This is a scenario-based outcome, not a forecast, but it illustrates the magnitude of the opportunity for a company that successfully commercializes a missing piece of industrial decarbonization.
Single-source, plausible -- Opportunity framing relies on cited grant and contract evidence, but specific market-size comparables and detailed flywheel evidence are not publicly quantified.
Sources
From the public record
[UCLA Samueli School of Engineering, August 2017] MAE-spinoff cleantech startup, Element 16, wins $1.5M grant to demonstrate a new approach to heat energy storage | https://www.mae.ucla.edu/mae-spinoff-cleantech-startup-element-16-wins-1-5m-grant-to-demonstrate-a-new-approach-to-heat-energy-storage/
[Element 16] Element 16 Technologies | https://element16.com/about-us
[California Energy Commission, 2025] California Energy Commission report | https://www.energy.ca.gov/sites/default/files/2025-01/CEC-500-2025-006.pdf
[PitchBook] Element 16 Technologies 2026 Company Profile: Valuation, Funding & Investors | https://pitchbook.com/profiles/company/185055-58
[Start Up Energy Transition] Element 16 Technologies, Inc. - Start Up Energy Transition | https://www.startup-energy-transition.com/set100-database/element-16-technologies/
[Karthik Nithyanandam - Element 16 Technologies | LinkedIn] Karthik Nithyanandam - Element 16 Technologies | LinkedIn | https://www.linkedin.com/company/element-16
[The Org] Hamarz Aryafar led a successful demonstration effort of a thermochemical hydrogen energy storage technology, backed by a $1.6M grant from the U.S. Department of Energy (DOE), ARPA-E program | https://www.startup-energy-transition.com/set100-database/element-16-technologies/
[IEA] International Energy Agency | https://www.iea.org/
Articles about Element 16 Technologies
- Element 16's Sulfur Battery Aims to Store the Sun for the Factory Floor — With over $6 million in grant funding, the UCLA spinout is betting its thermal storage can replace industrial gas boilers.