Alphaxioms Geothermal News and Related Research Globally

Baseload Capital Secures €53M in Series B Funding: A Major Leap for Geothermal Energy In a powerful stride towards revolutionizing the global energy landscape, Baseload Capital Sweden AB has successfully closed a €53 million Series B funding round. This monumental achievement signals a significant leap in scaling up geothermal energy—one of the world’s largest untapped and sustainable energy resources. The Power Behind the Funding Leading the charge in this Series B round is ENGF, a distinguished infrastructure fund backed by Ingka Investments, the financial powerhouse of the Ingka Group, the largest IKEA retailer. The round also attracted investments from energy technology giant Baker Hughes, Nefco, Breakthrough Energy Ventures, and Gullspång Invest. This robust investment lineup underscores the growing confidence in Baseload Capital's vision to unlock the geothermal energy sector's potential on a global scale. A Vision to Transform the Energy Sector Baseload Capital is not ju

Google’s Bold Step Towards Carbon-Free Energy: A Geothermal Power Partnership with Buffett's NV Energy By: Robert Buluma In a significant move towards sustainable energy, Alphabet Inc.'s Google has forged a partnership with Nevada’s utility giant, NV Energy, and the innovative geothermal startup, Fervo Energy. This collaboration marks a strategic effort to power Google’s data centers using clean, renewable energy derived from the Earth's heat. Harnessing Earth's Heat for Tech Giants Geothermal energy, unlike its solar and wind counterparts, offers a distinct advantage: it can operate continuously, providing a steady stream of electricity 24/7. By tapping into the heat stored in underground rocks, geothermal plants generate electricity without any carbon emissions. Fervo Energy employs advanced horizontal drilling techniques within geothermal reservoirs to maximize energy output, making this source of energy even more efficient. Powering the Future with Geothermal Energy

Geothermal Energy Insights Unlocking Opportunities: Geothermal Sector Embraces Expanded Tax Credits By:  Robert Buluma The recent release of final rules by the Dept. of the Treasury and the Internal Revenue Service (IRS) on key provisions within the Inflation Reduction Act (IRA) marks a significant stride forward for the geothermal energy sector. These regulatory changes not only signify a shift in the financial landscape but also present unprecedented opportunities for the advancement of geothermal energy projects. The Inflation Reduction Act introduces two groundbreaking mechanisms - elective pay (or "direct pay") and transferability - aimed at extending the reach of tax credits to previously underserved sectors, including geothermal energy. For years, the geothermal sector has faced challenges in accessing adequate financial support due to limited tax incentives. However, with the IRA's provisions, geothermal projects can now tap into crucial financial assistance, driv

Idaho National Laboratory Opens Doors for Private Geothermal Energy Development: A Historic Opportunity By : Robert Buluma The Idaho National Laboratory (INL), a significant site identified under the U.S. Department of Energy's "Cleanup to Clean Energy" initiative, is making history by inviting private developers to lease 2,500 acres of its land for clean energy projects. This marks the first time in 75 years that the INL has opened its doors for private development, showcasing a pivotal shift towards leveraging federal lands for renewable energy generation. The initiative, spearheaded by the DOE and supported by President Biden's ambitious climate goals, aims to repurpose former nuclear sites into hubs for clean energy innovation. With INL's participation, this vision takes a significant step forward, offering a unique opportunity for private entities to contribute to the nation's clean energy transition. The INL's decision to release a Request for Propos