The Next Frontier of Electrification? Industrial Heat | Ep271: James Macnaghten

Around the world, factories making food, drink, pharmaceuticals and other everyday products rely on steam, often produced by fossil-fuel boilers. James Macnaghten, founder and CEO of Caldera, is betting that thermal batteries can provide a cheaper and more flexible alternative that stores electricity as heat, and delivers steam on demand. This week on Cleaning Up, Bryony Worthington visits Caldera's factory to see how it makes its heat batteries: combining recycled aluminium and iron ore pellets to create a long-lasting, efficient heat store. The technology is designed for industrial processes up to 200°C, which James sees as a major opportunity for electrification. They discuss how thermal storage can help factories manage peaks in demand, use electricity when it is cheap or abundant, and reduce pressure on congested grids. They also explore Caldera's plans to scale, its journey from domestic heating to industry, and why James believes a more pragmatic approach to electrification is needed. Topics discussed in this episode: The hidden opportunity in industrial heat How Caldera's heat batteries work Why steam still matters Heat pumps and thermal storage Managing industrial demand spikes Turning surplus power into heat Scaling a UK climate-tech company The case for pragmatic electrification Leadership Circle: Cleaning Up is proud to be supported by its Leadership Circle. The members are Actis, Alcazar Energy, Arup, Copenhagen Infrastructure Partners, Cygnum Capital, Davidson Kempner, EcoPragma Capital, EDP, Eurelectric, the Gilardini Foundation, KKR, Mitsubishi Heavy Industries, National Grid, Octopus Energy, Quadrature Climate Foundation, Schneider Electric, SDCL and Wärtsilä. For more information about the Leadership Circle, visit cleaningup.live Links: James Macnaghten’s bio: https://www.linkedin.com/in/james-macnaghten Caldera: https://www.caldera.co.uk/ Professor Ning Li on Cleaning Up: https://www.youtube.com/watch?v=xCUASv01bVY Subscribe to our newsletter: https://cleaninguppod.substack.com/ JVs - Joint Ventures IP - Intellectual Property Chapters: 00:00: Intro 01:53: About Caldera Batteries 03:42: Heat Storage 09:47: Caldera Factory Tour 14:40: Funding Caldera 17:44: Scaling Up 25:37: Thermal Storage 29:02: Energy Price Shocks 30:27: Flexible Demand 35:22: UK Success Story 37:32: Outro