A thermal conveyance system and process for absorbing, transporting, storing, and recovering thermal energy (both hot and cold energy) over a wide range of temperatures from up to 2,100° F., or higher, or cool energy at subzero temperatures in inert and stable particles without the need to maintain a minimum temperature or requiring high system pressures. The process involving the transferring thermal energy to a first transfer fluid and recovering thermal energy from a second transfer fluid wherein the first and the second transfer fluids comprise a two phase thermal media including a gaseous carrier containing a quantity of micron to millimeter sized solid particles.