Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • HDFC Defence Fund doubles investors’ money in under 3 years, but the benchmark still beats it. How? – Mutual Funds News
    • Did you know your mutual fund has a hidden cost? Here’s who gets a cut
    • Only two dividend yield funds gave over 10% returns in the last 1 year: Find out who led the category and who lagged
    • 4 Vanguard ETFs That Belong in Every Portfolio in August
    • Bitcoin ETFs record largest outflow in six weeks as token stagnates | Cryptocurrency
    • Octopus used pensioners’ cash to fund its struggling investments
    • Bitcoin ETFs see largest outflow in six weeks as token stagnates
    • Sip & Sugar bakery have the ‘best cookies’ in the region
    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

    Active vs passive mutual funds: Are you really getting more for paying more? – Mutual Funds News

    August 14, 2026

    Money going into UK funds hits five-year high – should you invest?

    August 13, 2026

    Inside India newsletter: Why global funds are flocking to GIFT City in Modi’s home state

    August 12, 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

    HDFC Defence Fund doubles investors’ money in under 3 years, but the benchmark still beats it. How? – Mutual Funds News

    August 17, 2026

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

    November 19, 2023
    Don't Miss
    Mutual Funds

    HDFC Defence Fund doubles investors’ money in under 3 years, but the benchmark still beats it. How? – Mutual Funds News

    August 17, 2026

    India’s robust economic growth and evolving geopolitical considerations are supporting a long-term growth outlook for…

    Did you know your mutual fund has a hidden cost? Here’s who gets a cut

    August 17, 2026

    Only two dividend yield funds gave over 10% returns in the last 1 year: Find out who led the category and who lagged

    August 17, 2026

    4 Vanguard ETFs That Belong in Every Portfolio in August

    August 17, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    US equity funds see biggest weekly outflow in two months

    August 16, 2024

    Key ratios to consider before investing in mutual funds

    April 2, 2025

    Trump calls for end to Senate filibuster to stop government shutdown

    October 31, 2025
    Our Picks

    HDFC Defence Fund doubles investors’ money in under 3 years, but the benchmark still beats it. How? – Mutual Funds News

    August 17, 2026

    Did you know your mutual fund has a hidden cost? Here’s who gets a cut

    August 17, 2026

    Only two dividend yield funds gave over 10% returns in the last 1 year: Find out who led the category and who lagged

    August 17, 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.