Geothermal Technologies, Inc. (GTI) announced today that it has executed a Memorandum of Understanding with Halliburton Company (NYSE: HAL) to collaborate on the design and construction of GTI’s GenaSys™ Geothermal Power demonstration facility in the Denver-Julesburg (DJ) basin in Colorado.
“We are pleased to welcome Halliburton to the technical team that we have been assembling to build our demonstration facility”, says J. Gary McDaniel, CEO of GTI. “Together with Helmerich & Payne, Inc. (“H&P”) (NYSE: HP), Ambient Reservoir Monitoring, and Johns Hopkins University, GTI has put the necessary pieces into place to construct our flagship GenaSys facility in the DJ.”
About Geothermal Technologies, Inc.:
Geothermal Technologies (GTI) was founded in 2018 to commercialize technology that was developed at the Johns Hopkins University. GTI’s GenaSys™ Geothermal Energy Harvesting System revolutionizes how we harness renewable energy. GTI’s innovative technologies, when coupled with recently developed oil & gas and power generation technologies, enable the company to produce clean, renewable, low cost, baseload electricity, throughout the world, for decades to come.
Founded in 1919, Halliburton is one of the world’s largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset.