Skip to main content

Posts

Showing posts with the label Geopressurized Geothermal

"Revolutionizing Clean Energy: ABB and Sage Geosystems Harness the Power Beneath Our Feet"

ABB and Sage Geosystems Unearth Geothermal Energy Opportunities By: Robert Buluma In a groundbreaking move towards a greener, more sustainable future, ABB and Sage Geosystems have signed a Memorandum of Understanding (MoU) to revolutionize energy storage and geothermal power generation. This collaboration is set to unlock the immense potential of geothermal energy, which could power over 65 million homes in the U.S. alone. We reported earlier on how Sagegeosystems partnered up with another strategic company for a 3MW of geothermal energy, dive in for an exclusive touch. A Bold Step Toward Clean Energy Solutions By tapping into the earth’s core heat, ABB and Sage Geosystems aim to deliver clean, reliable, and on-demand energy through their innovative Geopressured Geothermal Systems (GGS). This technology not only produces sustainable electricity but also serves as an energy storage solution that pairs seamlessly with intermittent renewable resources such as solar and wind. Cindy Taff, C...

Sage Raises $17 Million For Worlds First Geopressurized Geothermal System

 Sage Geosystems Raises $17 Million in Series A, Announces World’s First Commercial Geopressured Geothermal System (GGS) Facility February 15, 2024 09:00 AM Eastern Standard Time Houston, TX—In a groundbreaking move towards sustainable energy solutions, Sage Geosystems proudly announced today the successful closure of its Series A funding, securing an impressive $17 million. This landmark achievement was led by Chesapeake Energy Corporation (NASDAQ: CHK) alongside notable technology investor Arch Meredith, Helium-3 Ventures, and with continued support from existing investors Virya, LLC, Nabors Industries Ltd., and Ignis Energy Inc. The funds from this Series A round will be instrumental in realizing the vision of Sage Geosystems: the creation of the world’s first commercial Geopressured Geothermal System (GGS) facility. Named EarthStore™, this innovative facility will harness the power of pressurized water stored deep underground to generate renewable energy. The 3MW EarthStore™ fa...