Texas survey shows growing support for next-generation geothermal and other renewables
A recent report released by the University of Houston Hobby School of Public Affairs reveals how Texan poll respondents feel about renewable and traditional energy sources in the state. The poll included questions about conventional oil and gas, as well as the emerging industries of solar, wind, nuclear, and geothermal, and aimed to gauge how Texan’s see their role in the evolving energy sector following more than 20 years of grid instability. Well-known for being a ‘red’ republican state, the polls showed – what some may consider surprisingly – positive attitudes toward expanding renewable energy sources, with 64% in favour of solar expansion, 57% supporting wind farm and hydroelectric dam growth, 42% in favour of increasing nuclear plants, and 59% supporting geothermal expansion.
More money, fewer problems: European venture capitalists aim to inject millions of euros into climate, clean, and green tech industries
2022 proved to be a fruitful year for European venture capital funds, according to an article by Amy Lewin and Sadia Nowshin of Sifted.eu. Last year, more than €23.3 billion was raised by both established and up-and-coming venture capitalists. Unsurprisingly (but nonetheless encouraging), funds and firms are eyeing climate tech projects and start-ups as promising and politically prioritized investments. The European Union has committed to reducing emissions by 55% from 1990 levels by the end of the decade, and becoming the world’s first net-zero continent by 2050. Other European nations outside the EU have their own climate goals, including the United Kingdom, Turkey, Switzerland, and Norway. These commitments spell more than just positive change for the environment. For venture capitalists, they signal the start of a new global industry in need of financing now, with the potential for exponential returns in the future.
Geothermal Rising announces new Executive Director
Non-profit green energy think-tank Geothermal Rising appointed Bryant Jones as the new Executive Director on Tuesday, February 14th in a press release published on their website. Jones has studied the intersection of science and technology, policy, and energy transition over the last 5 years. His fifteen years of political experience gave him special insight into how advocacy groups influence the creation of industry narratives and boundaries, and subsequently, shape emerging relevant policies and regulations, a topic he explored during his 7 years at Boise State University. “I am excited to be part of a community that has the solutions we need to avert and drawdown the climate crisis while simultaneously transitioning the hydrocarbon workforce, skills and knowledge into the clean energy economy,” said Bryant.
Prime Time for next-generation geothermal has arrived, and Germany wants to capitalize
An early January article from German international news outlet Deutsche Welle (DW) theorizes the Golden Age of Geothermal may be upon us. Journalist Gero Rueter’s take on the topic is a well-versed one. Rueter has worked for DW for over 20 years, during which he developed and published a magazine focused on European Environmental reporting and news. With a spotlight on the potential for deep geothermal energy, Rueter notes that China is by far the largest producer of deep geothermal, with an output of 14 GW. Turkey, Japan, and Iceland follow, with 3, 2, and 2 GW of output respectively.
The treasure at Geretsried
Bavarian state politicians show strong interest in Eavor‘s innovative geothermal energy. Ba-varia‘s Minister of the Environment Thorsten Glauber and Florian Streibl, Chairman of the Freie Wähler faction in the Bavarian State Parliament, visited Geretsried to find out more about the Eavor-Loop™ and emphasized the importance of technology openness in the en-ergy transition. The two politicians were received by Daniel Mölk, Managing Director of Eavor Germany and Europe and of the project company Erdwärme Geretsried GmbH. He explained to the visitors the uniqueness and the many advantages of the loop technology developed by Eavor in geothermal energy. Glauber and Streibl were delighted that Eavor had chosen the Bavarian town of Geretsried as the site for the world’s first commercial geothermal power plant using Eavor-Loop™ technology. In addition to the clean and safe energy yield, they also expect economic stimulus for the region.
A new study estimates as much as 40% of Bavaria’s energy needs can be supplied by geothermal energy.
much as 40% of the region’s energy needs can be supplied by geothermal energy stored deep in the earth. echXplore.com recently published a press release detailing the results of the study, commissioned by the Bavarian Ministry of Economic Affairs, Regional Development and Energy, and executed by Geothermal-Alliance Bavaria, a local research association. researchers indicate high levels of geothermal energy stored up to 5km below the earth’s surface in southern Bavaria.
Indonesia is opening doors for low-risk geothermal project bids
he estimated 23.7GW of geothermal energy potential across 300+ sites spanning the country. eported in early December that a verified hotspot for geothermal energy on the eastern end of the island chain will soon be open for development bids, with more areas to follow.
Calgary-based lithium extraction company closes multi-million dollar funding round, highlighting Alberta’s next-generation energy industry
Summit Nanotech, an Albertan green tech organization founded in 2018 made headlines in the Calgary Herald recently after closing a second round of investment funding totaling $67 million. Chris Varcoe, a columnist covering all things Canadian energy for the Calgary Herald reported on the win for Summit Nanotech the same day the company announcement was made and interviewed CEO and founder Amanda Hall for the column.
International Geothermal Conference in Taiwan highlights next-generation green energy efforts
The country of Taiwan recently hosted its first international conference on geothermal energy. On Monday, January 9, 400 virtual and in-person visitors attended the conference in Taipei City, aimed at highlighting the nation’s geothermal advancements in light of the global energy transition. Taiwan’s Ministry of Economic Affairs financed the event and the Taiwan Geothermal Association coordinated a full day of speeches and presentations from local and international organizations. One such presentation came from the Taiwanese government and detailed the federal incentive programs for geothermal development, regulatory amendments such as simplifying permit acquisition processes, and unveiled 10 geothermal hot spots around the island with potential for resource development.
Enablement of High-Temperature Well Drilling for Multilateral Closed-Loop Geothermal Systems
Constructing a multilateral closed-loop geothermal system (MCLGS) requires directional tools and magnetic ranging tools in the bottom-hole assembly (BHA) to drill and intersect the wellbores and create the closed loop. The levelized cost of energy (LCOE) of such an MCLGS is largely driven by rock temperature – the hotter the rock, the more energy that is produced from a given well configuration, and the lower the levelized cost. However, these tools have a maximum temperature limit above which they are no longer functional. To enable drilling of high-temperature rock formations and thereby decrease the LCOE, methods for estimating the temperature of the BHA critical components are required. To simulate drilling, two models of increasing complexity were developed. The first model is a one-dimensional pseudo steady state wellbore + thermal resistance model capable of estimating the temperature and pressure profile of the drilling mud throughout the drill pipe and annulus. This model allows for the understanding of key performance drivers and technology requirements to achieve high-temperature drilling.
Success at Eavor’s New Mexico project triggers follow-on strategic investments
CALGARY, Alberta, Canada – January 30th, 2023 – Eavor Technologies Inc. (“Eavor”), a leader in globally scalable geothermal technology, is pleased to announce the successful completion of its next generation geothermal demonstration project in New Mexico, USA: Eavor-Deep™. Beginning in August and concluding in December of last year, after having drilled a two-leg multilateral well down to 18,000’ TVD and ~250°C, Eavor met its objectives, including achieving technical milestones which have drawn a follow-on investment of $10 million CAD from bp Ventures (“bp Ventures”).
Eavor dubbed as “game-changer” in next-generation geothermal & the worldwide energy transition
Japanese electricity giant Chubu Electric is gunning to lead the charge when it comes to decarbonization and cleantech, both at home and abroad. Rechargenews.com secured an exclusive interview with Chubu’s global business division CEO Hiroki Sato, who expressed immense optimism about the company’s growth into international markets and emerging industries in the energy sector.
