In a release yesterday, U.S.-based GreenFire Energy Inc. announces has been selected to present its proprietary ECO2G technology to investors and industry representatives at the 2019 Emerging Markets Day (EMD), May 8, in Denver. Emerging Markets Day, hosted by the U.S. Department of Energy’s National Renewable Energy Laboratory, brings together cleantech entrepreneurs and industry experts to discuss the most promising cleantech solutions to the pressing energy challenges faced by emerging economies. GreenFire Energy was selected from a field of more than 120 entrepreneurs following an extensive selection process. It will compete to win the Outstanding Venture Award.
The company is one of only 10 cleantech startups selected globally, as reported by the company and will present its “ECO2G
GreenFire Energy uses its proprietary energy transport systems to maximize power generation from new, impermeable, or idle resources. GreenFire will enter the market by retrofitting existing but “failed” geothermal wells to produce power and then move toward full-scale greenfield projects.
“We are pleased to have been selected by NREL for this exclusive event”, said Joseph Scherer, President and CEO of GreenFire Energy. “Since GreenFire’s inception we have worked with the US Department of Energy and several of its national laboratories to develop a transformational technology that reduces the risk and time to production required for power generation from vast, but otherwise unproductive, geothermal resources. We are now completing our demonstration project at Coso, California with funding by the California Energy Commission, Shell Oil, the Electric Power Research Institute and J-POWER, and with extraordinary technical and logistical assistance from Coso Energy. This conference will be an excellent opportunity to explain how ECO2G can revitalize the global geothermal industry to better compete with other renewables such as wind and solar.”
Emerging Markets Day is a partnership between NREL and the U.S. Agency of International Development (USAID). This partnership is a spinoff from the NREL Industry Growth Forum and focuses on commercialization issues facing geographic emerging markets.
“The companies selected to present at Emerging Markets Day show great promise in solving some of the world’s most pressing energy problems,” said Richard Adams, director of NREL’s Innovation & Entrepreneurship Center that manages EMD. “This is only our third Emerging Markets Day and we’ve already seen significant and worldwide impact from this event.”
For more information and a complete list of EMD presenting companies, please visit https://www.emergingmarketsday.com.
GreenFire Energy designs, and develops, advanced “ECO2G” geothermal power generation systems for the dynamic global power market. ECO2G overcomes the risk and physical constraints that limit geothermal power – the world’s largest source of continuous renewable energy. ECO2G will first be retrofit to existing but non-productive geothermal wells to generate power. Longer term, GreenFire will develop and build new large-scale ECO2G geothermal projects in locations where conventional geothermal technologies cannot succeed.