Magma Energy looking to grow beyond geothermal
Magma Energy Maule drill site, Chile (source: Magma Energy)
Alexander Richter
15 Feb 2011
Canadian Magma Energy is looking at opportunities outside the geothermal energy industry, referring lack of real return and the limited growth opportunities given the limited size of the industry.
In an interview with Reuters, Magma Energy’s CEO Ross Beaty says “Magma is looking for investments outside the geothermal energy sector”, referring to the industry’s limited scope for growth.
He talks about that he generally “is disappointed with the lack of real return to investors in the sector over the past few years”.
Ross Beaty then refers to growth opportunities that the company has reviewed that would lie outside the scope of geothermal, but could be complementary.”
It will be interesting to see where the company is looking to find the growth opportunities it misses in the geothermal energy industry.
Source: Reuters
