GreenFire Energy wins PIVOT2021 Geothermal New Venture Competition
US-based GreenFire Energy Inc. was recognized in the PIVOT2021 event as the geothermal startup with the greatest potential for global impact
In a company release, US-based GreenFire Energy Inc. announced that it has won PIVOT2021’s New Venture Competition.
PIVOT2021 Geothermal Reimagined is a virtual conference series aimed to push geothermal development into exponential global growth. It is widely attended by the oil and gas and geothermal industries, and investors who are together building the future of geothermal energy. PIVOT2021 is organized by the Geothermal Entrepreneurship Organization (GEO), from The University of Texas at Austin. The event was held virtually July 19-23, 2021, with 165 experts and thought leaders from around the world speaking on panels.
The PIVOT2021 Geothermal Reimagined, New Venture Competition aimed to put a spotlight on the flourish of innovation and new startups emerging in geothermal. GEO, the organizer, received dozens of applications and held a semi-final round in June. The competition culminated with the four finalists pitching to the judges, Sir Richard Branson, Virgin, and Chris Anderson, TED, at the event. In addition to GreenFire Energy Inc., the finalists were Carbfix, Hephae Energy, and Hypersciences. The audience voted on the startup that they saw as the one with the greatest potential for global impact.
“We are honored to be the winner in PIVOT2021’s New Venture Competition and to be alongside so many impressive companies. GreenFire Energy has experienced tremendous interest in our GreenLoop technology to accelerate the production of geothermal energy. We want to especially thank GEO, Jamie Beard, the executive director of GEO, and the rest of the PIVOT2021 team for promoting the partnership of the oil and gas and geothermal industries – it’s really quite remarkable what PIVOT has accomplished,” said Joseph Scherer, president and ceo, GreenFire Energy.
We have previously reported on the projects of GreenFire Energy, including a testing of their closed-loop technology in Japan and efforts to revive idle geothermal wells in the Philippines.
Source: Company release