Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • 7 equity mutual funds with alpha above 10%: Should you invest based on alpha alone? – Money News
    • ETFs Aren’t Always Cheaper Than Mutual Funds. Here’s What to Compare Instead
    • Active Asset Allocator Long-Short Fund: Valuation and Macro Driven
    • Correlation Matters More Than Allocation: Using ETFs To Diversify What Actually Moves Differently
    • Premium Bonds Essex winners for June 2026 announced
    • Sovereign Bonds: Comprehensive Investment Facts and Risk Analysis
    • Reeves examines using private sector funds to speed building of new towns | Housing
    • ETFs Could Shatter an All-Time Record in 2026
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Funds»$31 million in government funds added toward geothermal development
    Funds

    $31 million in government funds added toward geothermal development

    August 26, 2024


     

     

    Another $31 million in government money is being handed out by the Biden administration toward geothermal energy projects.

    The U.S. Department of Energy announced the funding is part of “Building on President Biden and Vice President Harris’s Investing in America agenda.” The funds are reported to be an effort to advance geothermal energy throughout the country.

    One project is in New Mexico and another is in Texas.

    “The projects will improve the construction of enhanced geothermal systems and demonstrate how reservoir thermal energy storage can reduce energy needs for industry – supporting DOE’s Enhanced Geothermal Shot™ goal to reduce the costs of enhanced geothermal systems (EGS) by 90% by 2035 and DOE’s Industrial Heat Shot™ goal to develop cost-competitive industrial heat decarbonization technologies with at least 85% lower emissions by 2035,” stated the DOE press release.

    “These projects help achieve President Biden’s emissions reduction goals, strengthen U.S. competitiveness in this sector, and expand the types of clean and cost-effective energy solutions for American homes, businesses, and industry,” said U.S. Secretary of Energy Jennifer M. Granholm.

    The selected projects are:

    • Clemson University (Clemson, SC, $4,880,182): This project will develop an AI-enabled, photoacoustic imaging tool for high-temperature and high-pressure well logging to assess geothermal well integrity without active cooling.
    • Innovative Downhole Solutions Inc.(Houston, TX, $2,509,545): This project will develop a durable ultrasonic measurement tool capable of operating for 24 hours in high-temperature geothermal environments to assess wellbore construction materials and practices.
    • Lawrence Berkeley National Laboratory(Berkeley, CA, $2,016,000 ): This project will develop a tool for geothermal borehole integrity evaluation, designed to assess wellbore integrity in extreme conditions without the need for downhole electronics.
    • Los Alamos National Laboratory (Los Alamos, NM, $3,674,955): This project will develop a high-resolution acoustics-based tool to provide high-fidelity data for evaluating EGS components under extreme conditions.
    • Schlumberger Technology Corporation (Houston, TX, $10,000,000): This project will develop a wireline tractor-conveyed system for long-term integrity modeling of cement and casing.
    • Project Development Solutions, Inc. (Bakersfield, CA, $7,899,807): This project will pilot a reservoir thermal energy storage (RTES) demonstration project at Kern Front Oil Field in Bakersfield, pairing subsurface geothermal reservoirs with a steam system and process heat off-taker.

    These projects are funded by DOE’s Geothermal Technologies Office in the Office of Energy Efficiency and Renewable Energy.

    Source: DOE press release



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    Reeves examines using private sector funds to speed building of new towns | Housing

    June 1, 2026

    Sectoral mutual funds lose sheen – Mutual Funds News

    May 28, 2026

    Hedge Funds Are Built To Beat The Market, But Most Indians Cannot Get In: Here’s Why

    May 27, 2026
    Leave A Reply Cancel Reply

    Top Posts

    The Shifting Landscape of Art Investment and the Rise of Accessibility: The London Art Exchange

    September 11, 2023

    Charlie Cobham: The Art Broker Extraordinaire Maximizing Returns for High Net Worth Clients

    February 12, 2024

    The Unyielding Resilience of the Art Market: A Historical and Contemporary Perspective

    November 19, 2023

    The Evolution of Art and Art Investments: A Historical Perspective on Fruitful Returns and Wealth Management

    August 21, 2023
    Don't Miss
    Mutual Funds

    7 equity mutual funds with alpha above 10%: Should you invest based on alpha alone? – Money News

    June 1, 2026

    Investors often look at returns when selecting a mutual fund. However, a fund’s performance is…

    ETFs Aren’t Always Cheaper Than Mutual Funds. Here’s What to Compare Instead

    June 1, 2026

    Active Asset Allocator Long-Short Fund: Valuation and Macro Driven

    June 1, 2026

    Correlation Matters More Than Allocation: Using ETFs To Diversify What Actually Moves Differently

    June 1, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Overseas Funds Return to Indonesian Bonds on Dovish Fed Bets – BNN Bloomberg

    August 20, 2024

    JioBlackRock raises over ₹17,800 crore in maiden mutual fund offer

    July 7, 2025

    How I structure investment property loans for maximum tax perks

    August 23, 2025
    Our Picks

    7 equity mutual funds with alpha above 10%: Should you invest based on alpha alone? – Money News

    June 1, 2026

    ETFs Aren’t Always Cheaper Than Mutual Funds. Here’s What to Compare Instead

    June 1, 2026

    Active Asset Allocator Long-Short Fund: Valuation and Macro Driven

    June 1, 2026
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    ₹9000 monthly SIP can help you retire at 45 with ₹2 lakh monthly pension

    May 5, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.