New JV targets utilization of shallower geothermal resources
New NZ-Spanish joint efforts to develop shallower, more economically viable geothermal resources around the globe for direct use and power generation.
In a release shared with ThinkGeoEnergy, New-Zealand based international geothermal advisors, JRG Energy Consultants and Geo Industry Heat, a Spanish-based direct-use company, have announced a collaboration on strategic initiatives for the geothermal industry. Both companies have entered into a joint venture agreement, aligning business goals and complementary strengths to serve a larger, more diverse client base. The alignment, through collaboration, collective reach and expanded portfolio of services will help bolster a unified team to cover the entire geothermal value chain; from geothermal direct heat utilization to large power production projects.
With an increasing global focus on sustainable geothermal, JRG and Geo Industry Heat will make a concerted effort to develop shallower, more economically viable resources around the globe. This includes direct-use applications for greenhouses, district heating for health care facilities and schools, and direct heat utilization for high-energy consuming industries such as O&G, Mining, Timber and Dairy.
JRG Energy provides experienced engineering, consulting, project management and well services to the global geothermal industry. Their global team is positioned to provide local strategic partnerships keeping overhead and logistics costs to a minimum, allowing JRG to apply precise geothermal solutions where and when they are needed.
Geo Industry Heat’s team have been focused on the use of geothermal energy and its applications derived from heat within industrial and agricultural cases. Their expertise with low-temperature geothermal projects both in Latin America and Europe have positioned them to capitalize on the increasing demand for a carbon neutral, energy transition.
John Gilliland, Managing Director at JRG Energy said: “We are excited to be working alongside the talented staff of Geo Industry Heat to bolster our solutions for the low-temperature geothermal sector. Geo Industry Heat has extensive expertise in geothermal direct-use projects across the globe and combined with our international project delivery experience in conventional high-temp systems, we see this partnership strengthening our existing services line while extending our market reach.”
This Joint Venture has been founded under three main pillars.
- Maximizing opportunities for heating purposes:
Collaboration will leverage Geo Industry Heat’s extensive network and experience with low temperature geothermal projects and JRG’s global project management and geothermal well services experience to help existing power generating customers by maximizing their reinjection activities and promoting heat applications, to diversify revenue streams, and increase commercial and agricultural development opportunities with the waste heat.
The solution includes; quantifying the unutilized thermal energy that can be extracted from current power plant operations, analysis of the heat characteristics and end-use options, and lastly, the engineering and development of the entire system.
- Scalable and repeatable Direct Uses:
Agricultural and industrial applications will be the primary targets for repeatability and scale increase. By leveraging Geo Industry Heat’s specific geothermal greenhouse experience with JRG’s project management expertise promoting heating plants at an international level, the venture can help customers achieve faster ROI compared to large-scale geothermal power. This will encompass the drilling of shallower wells minimizing upfront expense and risk, providing a simplified method to scale capacity.
- Reinforcing Well Services to improve efficiency:
JRG Energy has active projects in major geothermal regions, New Zealand, Indonesia, The Philippines, USA and East Africa. Along with GeoIndustry, JRG will deploy innovative, cost-saving, customized geothermal solutions throughout Latin America and Europe to help improve and further expand geothermal development in those regions.
As climate change and the energy transition continues to shape the future as we know it, JRG and Geo Industry Heat will make a united effort to introduce geothermal as a baseload, cost-effective solution to exploit low temperature green resources for energy independence in commercial and agricultural operations. Ultimately this joint venture will help to reduce base load power costs, greatly reduce carbon footprint and help alleviate food scarcity into the future.
For more information about this strategic collaboration, contact: Patrick Hanson, Global Marketing and Business Development Manager, JRG Energy (email: patrick@jrgnergy.com) and Abraham Ormad, Global Business Development Manager, GeoIndustry Heat. (email: aormad@geoindustryheat.com)
Source: Company release by email