Geothermal Technologies plans geothermal power project in Colorado, U.S.
Geothermal Technologies Inc. (source: Video screenshot, GTI)
Carlo Cariaga
11 Apr 2023
Geothermal Technologies Inc. has applied for drilling permits as part of a planned geothermal power project in Weld County, Colorado.
Maryland-based Geothermal Technologies Inc. (GTI) seeks to develop a geothermal power plant for utility-scale electricity generation in the Denver-Julesberg (D-J) Basin in Weld County, Colorado. To this end, the company has filed for drilling permits with the Division of Water Resources in the State of Colorado.
GTI is a Johns Hopkins startup formed in 2018 that aims to harness geothermal energy hosted in the aquifers of sedimentary basins. To achieve this, GTI developed proprietary technologies that help determine the best drilling location, inform the design of the subsurface, and monitor the system once in place. The company licensed the technologies through Johns Hopkins Technology Ventures (JHTV).
“This is an important step forward in our plans to construct a first-of-its-kind geothermal power plant in the D-J using GTI’s proprietary suite of technologies,” said J. Gary McDaniel, CEO of GTI. “We are excited about the potential that exists in Colorado for the development of advanced geothermal power. GTI has calculated that the thermal prospect in the DJ Basin has over 5 GW of geothermal energy that can be harvested using our technology. Our Field Development Plan for generating power indicates we can install up to 400 MW of baseload electricity production.”
GTI’s proprietary GenaSys™ Geothermal Energy Harvesting System ushers in the latest generation of geothermal technologies. When coupled with advanced Organic Rankine Cycle (ORC) power generation technology, GTI’s innovative system enables the efficient extraction of geothermal energy in geographic regions around the globe that have been out of reach using conventional approaches.
“Our GenaSys technology promises to make geothermal baseload power both low in cost and truly scalable – locally, regionally, and globally. We plan to begin by constructing a small 5 MW power plant in the D-J basin and then scale from there,” explained Jim Hollis, President and COO of GTI.
GTI’s flagship geothermal power project in the D-J supports Colorado’s Governor Jared Polis’s “Heat Beneath Our Feet” initiative, which he has championed in his capacity as Chair of the Western Governors’ Association.
Source: Business Wire and Johns Hopkins Ventures
