Geothermal Technologies, Inc. (GTI) announced today that it has entered into a data sharing agreement with one of the largest oil & gas operators in Colorado’s Denver-Julesburg (DJ) Basin.
The data that GTI will be receiving will enable the company to fine-tune its subsurface understanding and improve the overall design of the first GenaSys™ geothermal energy system while reducing both risk and development costs.
“The data that we will be receiving as a result of this agreement is a huge step forward for us in furthering our understanding of the geothermal potential of the DJ basin”, says Jim Hollis, President and COO of GTI. “There is an enormous amount of geology and geophysical data available within the area thanks to the investments made by companies exploring and producing hydrocarbons. As we pivot toward lower carbon energy sources the repurposing of Oil and Gas data allows us to fast-track the identification and development of the abundant energy stored in the earth’s sedimentary basins.”
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.