In May 2022, Lux Research hosted an Ideathon1 on the decarbonization of heat. Heat is a ubiquitous need across multiple sectors including steel, glass, cement, chemicals, pulp and paper, food and beverage, residential, and more. As electricity becomes the staple energy form and heat specialized and expensive in a decarbonized future, industries are under pressure to find affordable and low-carbon sources of heat.
In this Ideathon, Lux invited showcases innovative technology developers, as major corporations face the necessity to minimize the fossil-fuel footprint of their heat and find cost-effective ways to remain operational and competitive.
Jim Hollis, COO of Geothermal Technologies, Inc (GTI), provided the audience with a brief introduction to Geothermal heat and power production and the novel approach and technologies that GTI has developed to both scale and decrease the cost of mining abundant, clean, and sustainable geothermal energy from the earth. Jim’s presentation was well received by the audience as they voted GTI as the “winner” (best pitch and investment opportunity) of the Lux Ideathon.
1The Lux Ideathon is a startup pitch session organized around a specific theme combined with a panel discussion between Lux analysts and members of the leadership team of participating startups. The event provides clients with access to exclusive technology innovation and business strategy directly from the innovators. To learn more about accessing Ideathons, please reach out to Lux Research at marketing@luxresearchinc.com
About Lux Research
Lux is a research and advisory firm, focused on sustainable innovation that is commercially viable. Across all industries, an ever-increasing focus on sustainability is a major driver of change in business as we all strive to meet corporate sustainability goals, government regulations, and consumer expectations.
Lux is uniquely positioned to provide our clients answers to their questions about sustainability and business: what emerging technologies are poised to make a leap forward? What startups are worth investing in? What changes do we need to make to our product roadmap to successfully go to market?
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.