ZeroGeo and Sage Geosystems to jointly work on geothermal energy production and storage

ZeroGeo Energy and Sage Geosystems sign a Joint Venture Agreement (source: ZeroGeo Energy)

Carlo Cariaga 17 Jan 2023

ZeroGeo Energy GmbH (ZeroGeo) and Sage Geosystems Inc. (Sage) have signed a Joint Venture Agreement (JVA) to engage in the business of energy storage in the earth and/or geothermal baseload energy (heating or power generation) in Europe under the name TerraThermo GmbH.

With the increase in deployment of solar and wind power projects in Europe in the past years, there is now a need for energy storage solutions that can help manage supply and demand with these intermittent power sources. Not only can geothermal systems provide energy storage solutions, but it can also generate additional energy the form of heat during the storage period.

Through this partnership, ZeroGeo and Sage intends to develop long-duration energy storage and geothermal baseload power generation at competitive costs leveraging hot dry rock technologies. This will complement Europe’s focus on the energy transition and facilitate the region’s independence from natural gas.

ZeroGeo is currently working on Projekt THERMO, which aims to evaluate the potential of the Lower Saxony region in Germany for geothermal power generation and possibly heat production. The company had commenced an aerial full tensor gravity and magnetic survey over the study area in November 2022 which had been completed recently.

Sage is a rapidly growing business dedicated to the advancement and widespread deployment of geothermal technologies, including storage and baseload power generation. The company had previously entered a partnership with Ignis H2 Energy and sister company Geolog International BV to accelerate the deployment of Sage’s proprietary technologies including its low-cost energy storage solutions.

Source: Sage Geosystems