Terrascale and Terrapin Join Forces in Geothermal Development

**Title: Climate Transition Development: Driving Geothermal Innovation and Sustainability**

In a significant move towards advancing geothermal capabilities and promoting sustainable energy solutions, Terrapin Geothermics and TerraScale have joined forces to establish Climate Transition Development Corporation. This merger marks a pivotal moment in the renewable energy sector, with a primary focus on accelerating geothermal projects in key regions such as Canada, Japan, and Switzerland.

Terrapin Geothermics, renowned for its expertise in generating clean electricity and heat from industrial waste heat and deep geothermal resources, joins hands with TerraScale, an award-winning green infrastructure development and advisory firm based in California. Together, they form Climate Transition Development, a US-based entity committed to driving global change through sustainable infrastructure and renewable energy initiatives.

Under the terms of the agreement, Climate Transition Development will be jointly owned and managed by the blended management teams of Terrapin and TerraScale. This strategic collaboration aims to leverage the technical prowess of Terrapin in geothermal development alongside TerraScale's expertise in infrastructure development and project financing. The synergy between the two companies is expected to fuel innovation and accelerate the transition towards a more sustainable and energy-efficient future.

One of the key projects on the agenda for Climate Transition Development is the development of Terrapin's Alberta No. 1 Geothermal Power Plant near Grande Prairie, Alberta. This ambitious project, with an estimated value of CAD ~$106 million, is supported by a CAD $25.42 million grant from the Emerging Renewables Power Program – NRCan (Natural Resources Canada). With approximately $6 million already monetized, the project is poised to make significant strides towards clean energy generation.

Marc Colombina, Vice President of Operations & Director at Terrapin, expressed enthusiasm about the merger, stating, "By harnessing Terrapin's technical prowess in geothermal development alongside TerraScale's expertise in infrastructure development and project financing, we forge a powerful combination. This synergy will support the development of our international sustainable project pipeline."

Danny Hayes, CEO of TerraScale, echoed Colombina's sentiments, emphasizing the potential for innovative financing and development models to foster market growth and expand geothermal capacity. "Our collaboration with Terrapin will usher in innovative financing and development models, fostering swift market growth and expanding geothermal capacity," said Hayes. "Together with Terrapin's highly experienced management team, we believe Climate Transition Development is uniquely positioned to lead the global transition towards a more sustainable and energy-efficient future."

With a strong commitment to sustainability and a wealth of expertise in geothermal development, Climate Transition Development is poised to make significant contributions to the renewable energy landscape. Through strategic partnerships, innovative technologies, and a dedication to driving global change, Climate Transition Development aims to pave the way for a greener, more sustainable future.

Source: Researched and Written by Robert Buluma, alphaxioms@gmail.com

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