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...

Orkuveitan’s Ambitious Geothermal Drilling Project: Paving the Way for a Sustainable Future By :  Robert Buluma In a landmark move toward bolstering Iceland’s energy security and sustainability, Orkuveitan, the Reykjavik-based energy company, has launched a significant tender process for its latest geothermal drilling initiative. This project, which aims to drill 35 new exploratory and water extraction wells by the end of 2028, marks the largest water procurement venture in recent years. With its eyes set on a carbon-neutral future, Orkuveitan is taking a crucial step forward in ensuring the sustainability of the nation’s geothermal resources. The primary goal of this extensive drilling project is twofold: to secure long-term water supply for the nation’s heating needs and to explore new geothermal fields that hold potential for future development. The company’s approach to this project reflects a commitment to environmental stewardship, utilizing electric drilling rigs to minimize...

Unlocking Earth's Infinite Power: The Revolution of Millimeter Wave Drilling By: Robert Buluma In a groundbreaking test at the  Quaise  laboratory, scientists have taken a monumental step toward tapping into the boundless reservoir of clean energy that lies deep beneath the Earth's surface. This untapped potential, which could power our civilization for millions of years, is now within reach thanks to an innovative technology: millimeter wave drilling. The Hidden Treasure Below Deep geothermal energy holds the promise of providing clean, sustainable power 24/7. Unlike solar or wind, which are intermittent, geothermal energy is constant, driven by the Earth's internal heat. However, accessing this energy, buried deep within the tough, crystalline basement rock, has long been a challenge. Traditional drilling methods falter here, where high pressure and temperature wear down mechanical drill bits rapidly, making the process expensive and inefficient. Enter Millimeter Waves Mi...

SLB and Ormat Join Forces to Revolutionize Geothermal Energy By: Robert Buluma In an exciting leap toward a sustainable future, SLB has announced a strategic collaboration with Ormat Technologies, Inc., a leading renewable energy company, to develop and deliver cutting-edge geothermal projects. This partnership aims to revolutionize the geothermal energy landscape by reducing project risks, enhancing economics, and ensuring long-term performance and reliability. A Comprehensive Suite of Solutions The collaboration will offer developers an integrated suite of solutions that cover every phase of geothermal projects. From initial exploration and resource assessment to power plant commissioning and operation, SLB and Ormat are committed to providing a seamless and comprehensive approach. Next-Generation Geothermal Solutions Together, SLB and Ormat will offer both traditional geothermal solutions and next-generation technologies like enhanced geothermal systems (EGS) and advanced geothermal...

Fervo Energy Secures Landmark 320 MW Power Purchase Agreements with Southern California Edison By: Robert Buluma In a move that underscores the growing demand for sustainable energy solutions, Fervo Energy, a pioneer in next-generation geothermal technology, has announced two monumental power purchase agreements (PPAs) with Southern California Edison (SCE). Totalling 320 MW, these agreements represent the world's largest geothermal PPAs to date, cementing geothermal energy's critical role in the transition to a cleaner energy future. A Milestone in Clean Energy Set against the backdrop of California's ambitious clean energy goals, the 15-year agreements will see SCE purchasing 24/7 carbon-free geothermal energy from Fervo's Cape Station project in southwest Utah. This power will serve approximately 350,000 homes across Southern California, bolstering the state's grid reliability with a steady supply of renewable energy. David Hochschild, Chair of the California Ener...

Exploring a Greener Future: CU Boulder and Eavor Technologies Partner for Geothermal Energy Breakthrough By: Robert Buluma Boulder, CO -  — In a pioneering move towards sustainable energy, the University of Colorado Boulder (CU Boulder) has been awarded nearly $700,000 through the Colorado Energy Office's Geothermal Energy Grant Program (GEGP).  This funding, announced by Governor Jared Polis in Pueblo, will support cutting-edge studies aimed at harnessing geothermal energy to reduce the university’s greenhouse gas emissions and energy costs. Eavor Technologies, a trailblazer in geothermal technology, joins CU Boulder in this ambitious endeavor. Their collaboration aims to explore the potential of geothermal energy to slash the university’s Scope 1 and 2 GHG emissions while providing a reliable, renewable energy source. "We are excited to contribute our expertise on geothermal to CU Boulder’s geothermal studies," said Jeanine Vany, Eavor co-founder and executive vice pres...

Unleashing Ukraine's Geothermal Potential: A Collaboration for a Sustainable Future Robert Buluma In a groundbreaking partnership, Ceraphi   Energy and NGO Geothermal Ukraine (GU) are joining forces to tap into Ukraine's vast geothermal potential. This collaboration marks a pivotal moment in the nation's journey towards energy security and sustainability. A Match Made in Energy Heaven Ceraphi  Energy, renowned for its innovative CeraPhiWell™ technology, is teaming up with GU, a trailblazing non-profit dedicated to geothermal research and development. Together, they are set to revolutionize Ukraine's energy landscape. Unlocking Untapped Potential With over 10 gigawatts of untapped geothermal power and heat generation capacity, Ukraine boasts a goldmine beneath its surface. By harnessing CeraPhi's cutting-edge technology and GU's scientific expertise, this collaboration aims to unlock this potential and propel Ukraine towards a greener future. Repurposing for Prog...

Unearthing the Future: Zanskar Raises $30 Million to Revolutionize Geothermal Energy By: Robert Buluma In a world teetering on the brink of an energy crisis, where the demand for power surges with the relentless march of technology, one company stands poised to reshape the landscape of sustainable energy.  Geothermal & Minerals, the vanguard of geothermal exploration, has just announced a monumental achievement - the closing of a staggering $30 million in new funding, a feat that promises to propel the discovery of geothermal energy into uncharted territories. Led by Obvious Ventures, this groundbreaking round of funding signals a watershed moment for the renewable energy sector. With stalwart support from previous investors like Munich Re Ventures and Union Square Ventures, as well as fresh contributions from Clearvision Ventures,  Zanskar embarks on a mission to harness the power of geothermal energy on an unprecedented scale. But what exactly makes geothermal energy so...

Exploring the Future of Energy: Repsol's Geothermal and Hydrogen Ventures By: Robert Buluma In a world clamoring for cleaner and sustainable energy solutions, Repsol, the renowned energy giant, is stepping boldly into the future. With a vision firmly fixed on reducing carbon emissions and embracing renewable energy,  Repsol has birthed a new entity: Repsol Earth Solutions Holding SL. Led by the visionary Josu Jon Imaz, this venture signifies  Repsol commitment to exploring the vast potential of geothermal energy and hydrogen. But what makes geothermal energy so compelling? Imagine tapping into the Earth's natural heat, harnessing it to power our cities and industries without harming the environment. It's not just a dream; it's a reality  Repsol is actively pursuing. Geothermal energy, often overlooked, is a game-changer in the quest for sustainable power. From the volcanic landscapes of the Canary Islands to the bustling streets of Madrid,  Repsol is leading the c...

Unleashing the Power of Earth:  Turboden and  Fervo Energy Partner to Revolutionize Geothermal Energy By: Robert Buluma In the heart of the rugged landscapes of southwest Utah, a groundbreaking collaboration is underway to harness the Earth's natural heat and propel the world towards a greener, more sustainable future. Turboden , a trailblazer in Organic Rankine Cycle (ORC) systems, has joined forces with Fervo Energy , a pioneer in enhanced geothermal systems (EGS), to embark on an ambitious journey towards redefining geothermal energy production. The Cape Station project stands as a testament to this alliance, marking Fervo Energy largest commercial endeavor in the geothermal energy sector to date. Positioned to become a beacon of innovation, Cape Station aims to revolutionize the way we harness energy from beneath the Earth's surface, with an anticipated total project capacity of approximately 400 MW. This endeavor not only symbolizes a transformative leap towards carbon-...

Powering the Future: Star Energy Group Bold Move Towards Geothermal Energy By: Robert Buluma In a groundbreaking move towards sustainable energy, Star Energy Group (AIM: STAR) has just announced the closing of a new €25 million secured facility with Kommunalkredit Austria AG (Kommunalkredit). This financial boost marks a significant step in Star Energy's transition strategy, particularly focusing on geothermal energy while maintaining investments in conventional oil and gas businesses. Chris Hopkinson, the CEO of Star Energy expressed his excitement, stating, "Securing this facility is an important milestone for Star Energy. It allows us to use cashflows from our existing oil and gas business to optimize near-term conventional production and deliver our transition strategy; namely developing and monetizing our geothermal business in both the UK and Croatia." Evidently,Oil and gas companies have been going Geothermal and Today we've found a new neighbor What makes th...

Unleashing the Power of Earth's Heat: NRW's Masterplan Geothermal By: Robert Buluma In a groundbreaking move towards sustainable energy, the state of North Rhine-Westphalia (NRW) unveils its ambitious "Masterplan Geothermie NRW." Spearheaded by the dynamic Wirtschafts- und Klimaschutzministerin Mona Neubaur, this plan promises to revolutionize the region's energy landscape, tapping into the immense potential of geothermal energy as a reliable and carbon-neutral heat source. Given that Geothermal energy has been approved as a vital way of meeting energy needs with policies being approved this blue print is a one way of making Geothermal work Geothermal energy, often overshadowed by its more visible counterparts like solar and wind power, holds remarkable promise in the quest for renewable energy solutions. By harnessing the Earth's natural heat stored beneath its surface, NRW aims to reduce its reliance on fossil fuels and make significant strides towards achie...

Harnessing Earth's Energy: Riehen's Groundbreaking Geothermal Endeavor By: Robert Buluma In the heart of Riehen, Switzerland, a quiet revolution is underway, one that promises to reshape the community's energy landscape for decades to come. For the past 30 years, Riehen has been tapping into the Earth's natural warmth to power its heating systems, pioneering the use of geothermal energy in the region. Now, with a newfound zeal for sustainable energy solutions, the town is embarking on an ambitious journey towards expanding its geothermal infrastructure. The latest chapter in Riehen's geothermal saga unfolds with the revelation of a prospective site for a second geothermal facility. The announcement, made by the Riehen District Heating Company (Wärmeverbund Riehen AG), marks a significant milestone in the town's quest for energy independence. After meticulous assessments and geological surveys, a parcel of land in the Grendelmatten area emerged as the prime locat...

Unveiling the Power Beneath: The Ngozi Geothermal Project By: Robert Buluma Image: Lake Ngozi In a world where energy demand is skyrocketing, the quest for sustainable solutions has become paramount. Enter the Ngozi Geothermal Project – a beacon of hope in the realm of renewable energy. Gathered on the shores of Lake Ngozi in Mbeya, a diverse coalition of scientists from the United States, New Zealand, Japan, Iceland, and geothermally rich nations such as Kenya, Uganda, and Ethiopia convened for three days of groundbreaking discussions. At the heart of their deliberations lies a shared vision: to harness the earth's natural heat trapped beneath the surface of Lake Ngozi and transform it into a staggering 30 megawatts of clean, renewable power by the year 2025. It's not just about meeting energy needs; it's about pioneering a sustainable future for generations to come. The significance of this ambitious endeavor cannot be overstated. Geothermal energy represents a game-chang...

Unveiling the Future: Construction Begins on Wai-2 Geothermal Power Plant By: Robert Buluma In a groundbreaking move towards sustainable energy, Furusato Thermoelectric Co., Ltd. has embarked on an ambitious project to build the Wai-2 Geothermal Power Plant. Led by the visionary leadership of CEO Kazuyuki Akaiishi, the company announced this momentous endeavor on March 22, 2024, marking a significant step forward in the realm of renewable energy. Located in the picturesque town of Oguni, nestled in the heart of Kumamoto Prefecture's Aso District, the Wai-2 Geothermal Power Plant is set to revolutionize the region's energy landscape. With a planned commercial operation slated for March 2026, this state-of-the-art facility aims to harness the Earth's natural heat to generate clean, sustainable electricity. What sets the Wai-2 Geothermal Power Plant apart is not just its cutting-edge technology but also its commitment to community collaboration. Building upon the success of th...

Unleashing Colombia's Geothermal Potential: A Step Towards Sustainable Energy By: Robert Buluma Colombia, renowned for its natural beauty and diverse landscapes, is gearing up for a groundbreaking endeavor in the realm of sustainable energy. In an announcement that reverberates with promise, the Agencia Nacional de Hidrocarburos (ANH) disclosed plans for the nation's inaugural geothermal round and auction slated for the latter half of 2024. The significance of this initiative cannot be overstated. It represents a pivotal stride towards harnessing Colombia's untapped geothermal potential, a move poised to redefine the country's energy landscape while championing environmental sustainability. Orlando Velandia Sepúlveda, President of ANH, underscored the magnitude of this endeavor, citing it as a concerted effort to capitalize on Colombia's inherent strengths. Collaborating seamlessly with the Ministry and the Servicio Geológico Colombiano, ANH has embarked on an exhau...

Harnessing the Earth's Warmth: Mondelez Ventures into Geothermal Energy for Sustainable Production By: Robert Buluma In a bid to embrace sustainable practices, global food giant Mondelez has set its sights on harnessing the Earth's natural warmth to power its production facilities. Located in the picturesque region of Bad Fallingbostel in the Heidekreis district of Germany, Mondelez's factory churns out an array of delectable treats ranging from cheese varieties to ketchup and mayonnaise. Now, with the recent green light from the State Office for Mining, Energy, and Geology (LBEG), Mondelez is poised to tap into the depths of the Earth for geothermal energy, marking a significant step towards reducing its carbon footprint. The concept is as innovative as it is environmentally conscious. By delving deep into the Earth's crust, Mondelez aims to access the virtually limitless reservoir of heat stored beneath the surface. Unlike traditional heating methods that rely on foss...

Unveiling the Future of Renewable Energy: Whitebark Energy and CeraPhi Energy Join Forces By: Robert Buluma A Ceraphi drilling rig , image source Ceraphi  In a groundbreaking move towards sustainable energy solutions, Whitebark Energy Limited has forged a strategic partnership with international Geothermal Developer CeraPhi Energy. This collaboration signals a significant step forward in Australia's energy transition, particularly in the realm of geothermal power. Whitebark's recent acquisition of an exploration license application for Geothermal Energy (EPG) in the Greater Brisbane and Gold Coast Region sets the stage for a pioneering endeavor. Covering approximately 589 square kilometers, this tenement holds immense potential for the generation and sale of geothermal power, positioning Whitebark as a key player in the region's renewable energy landscape. Central to this partnership is CeraPhi Energy's cutting-edge technology, the CeraPhiWell™. This revolutionary close...