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James Macnaghten

Sep 15, 2026

RishiHOST
11:19
Can you add some more color to this segmentation problem? And what are the specific temperature bands? And what are the issues today in these bands? Okay, so
11:32
let's start at the simple bit.
11:33
Broadly under 100 Celsius, everybody uses water and it's great.
11:39
It's not our sector.
11:41
If somebody needs water heating and it's convenient for how we're trying to help them, yes, but it's not where we're aimed.
11:48
Between broadly 100 and I would go up to a little bit over 200, but not much more.
11:54
Generally, everybody uses steam.

16 MINS LATER

CarmineHOST
28:11
Can you help us to understand in simple terms how it works?
28:37
How much of that is currently run with fossil fuels?
28:41
Almost 100%.
28:42
We go to factories where you walk into these vast boiler rooms with five boilers, each the size of a double-decker bus, burning gas at the most phenomenal rate, and all to do things like brewing beer, distilling, making pharmaceuticals, paper-making, industrial processes.
28:59
They all have big chimney stacks, and they run 24 hours a day, 365 days a year.
33:24
What would that giant heat battery enable them to do?
33:28
I would say a normal sort of factory that's producing food and beverage, maybe two of these.
33:33
Maybe a big factory, you might put in four or five of these.
33:36
But it would allow them to run their entire steam production on, uh, basically renewable electricity.

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