Alta Rock to start its demonstration project at The Geysers in August 2009
Alta Rock is about to start fracturing bedrock at its project at The Geysers in California. Part of the article are also current discussions in the region on earthquake fears, but also a little historic insight into this very exciting project and company.
Reported locally, Alta Rock is about to start fracturing bedrock at its project at The Geysers in California. Part of the article are also current discussions in the region on earthquake fears, but also a little historic insight into this very exciting project and company.
The company has a drill rig on its pad, on land leased from the Bureau of Land Management by the Northern California Power Agency. The rig already has begun drilling in a 20-year-old well, and will begin fracturing bedrock in August 2009 in an effort to harness heat from deep within the earth.”
The article also refers to the recent discussions about the project’s effect on possible earthquakes.
Regarding the history of the company the article talks about, that it had “raised equity investments in two rounds – the first took in $4 million, the second $26 million, plus they received a $6 million grant from the Department of Energy.
AltaRock’s plans drew investors such as Google, Khosla Ventures, Advanced Technology Ventures, Vulcan Capital and Kleiner Perkins Caufield & Byers, a company actively searching out green technology investment opportunities. Its partners include former Vice President Al Gore, with former Secretary of State Colin Powell listed among its strategic limited partners, according to the company’s Web site.
AltaRock also has gained the ear of officials in Congress. In September 2008, Rep. Jay Inslee (D-Washington) mentioned AltaRock Energy in comments on the House floor about a comprehensive energy bill.
Discussing the company’s EGS techniques, Inslee said, “AltaRock Energy is going to be ready to commercialize this technology, we hope, in the next several years that could produce potentially half of our electrical needs in the United States if we can surmount a couple of technological challenges involving pumps. Here is a company that could be a total game changer, and it needs policies from Congress to move forward. Our proposal, the Democratic leadership will propose, will support that technology.”
Last September, the company also finalized a deal with Weyerhaeuser Co. and Weyerhaeuser Company Foundation to use explore the use of EGS on 667,000 acres in California, Oregon and Washington – of which 25,400 acres are in Northern California.
AltaRock reported that Weyerhauser granted it an exclusive option by Weyerhaeuser to assess the geothermal potential and convert up to 40 percent of the acreage rights to geothermal development leases within two years.”
This is only a snapshot of the whole article, that I believe worthwhile to read. (see link below)
Source: Lake County News