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Startup planning to use rockets to drill for geothermal energy backed by Shell

Startup planning to use rockets to drill for geothermal energy backed by Shell HyperDrill view (source: HyperSciences)
Alexander Richter 25 Feb 2017

A technology startup from the U.S., has secure $690k in additional funding in a fund raising round for the technology development. Backed by among others Shell, the company plans to utilise rockets to drill for geothermal energy.

Reported in technology publication Geekwire, HyperSciences, a startup that uses rockets to drill for geothermal energy, has raised $690,000 of a $1 million funding round.

The fresh cash comes from Washington Research Foundation, Kick-Start II, Cowles Company and The Toolbox, HyperSciences CEO Mark Russell confirmed on Friday.

The Spokane, Wash. startup is designing new drilling methods to make it more cost-effective to access geothermal energy. It will use the funding to continue development of its HyperDrill and HyperBreaker tunneling machine prototypes, in addition to testing its ThermoElectric Generator (TEG) technology.

With a background at NASA, Boeing and Blue Origin the CEO of the company has brought space technology know-how to drilling. With its technology the company uses projectiles to drill for geothermal heat.  So essentially shooting rockets down a well for drilling.

There have been texts at a mine in the State of Washington and demonstrations to oil company Shell late last year. The machines shoot rocket-like projectiles into the earth to dig faster and more efficiently than current systems.

So far the company has raised $2.6 million in angel investments and additional undisclosed funding with Shell GameChanger for its HyperDrill system.

 

Source: GeekWire