Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Mid-cap funds are hot with investors. What’s driving the rush and should you invest now? Here’s what fund managers say
    • Large & mid-cap mutual funds vs separate portfolio split: How do their returns compare over 1, 3 and 5 years?
    • Why mutual fund investors often earn less than the fund’s reported return
    • CI Global Asset Management Launches Global Small/Mid-Cap and International Growth Equity Mandates, Providing New Diversification Options for Mutual Fund and ETF Investors
    • US treasury secretary hails government’s bond buyback a success | US economy
    • US treasury secretary hails government’s buy back of bonds a success | US economy
    • Warren Buffett’s 1969 warning for mutual fund investors: What if your star fund manager quits? – Money News
    • 3 Defence Mutual Funds to Keep an Eye on in 2027 – Money Insights News
    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

    Focused funds stay on fringes despite MF boom – Market News

    September 14, 2026

    Investors pull money from equity funds as rising oil prices fuel inflation fears

    September 11, 2026

    Private equity funds to buy as the sector bounces back

    September 11, 2026
    Leave A Reply Cancel Reply

    Top Posts

    What is an index fund?

    March 11, 2026

    Defiance ETFs Launches CAPA, the First U.S.-listed Capacitor & MLCC ETF

    August 26, 2026

    Mid-cap funds are hot with investors. What’s driving the rush and should you invest now? Here’s what fund managers say

    September 16, 2026

    US treasury secretary hails government’s bond buyback a success | US economy

    September 15, 2026
    Don't Miss
    Mutual Funds

    Mid-cap funds are hot with investors. What’s driving the rush and should you invest now? Here’s what fund managers say

    September 16, 2026

    Mid-cap mutual funds continue to attract investors even as valuations remain above their long-term averages.…

    Large & mid-cap mutual funds vs separate portfolio split: How do their returns compare over 1, 3 and 5 years?

    September 15, 2026

    Why mutual fund investors often earn less than the fund’s reported return

    September 15, 2026

    CI Global Asset Management Launches Global Small/Mid-Cap and International Growth Equity Mandates, Providing New Diversification Options for Mutual Fund and ETF Investors

    September 15, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    SBI Funds Management IPO Day 3: Strong Retail Buying Clears Path For Solid Listing

    July 16, 2026

    2 ETFs I think could explode in value in 2025!

    February 13, 2025

    Japan Eyes Crypto ETFs Launch Amid Proposed Regulatory Shift

    March 6, 2025
    Our Picks

    Mid-cap funds are hot with investors. What’s driving the rush and should you invest now? Here’s what fund managers say

    September 16, 2026

    Large & mid-cap mutual funds vs separate portfolio split: How do their returns compare over 1, 3 and 5 years?

    September 15, 2026

    Why mutual fund investors often earn less than the fund’s reported return

    September 15, 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

    🇮🇸 CPP Investments and Equinix complete atNorth acquisition to support growth of leading Nordic data center platform

    September 1, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

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