Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Run-up in US funds: Invest for market, currency hedge with 7-year horizon | Personal Finance
    • Why Have Mutual Funds Exited EaseMyTrip?
    • Bitcoin ETFs log $996M inflows even as Iran tensions resurface
    • Sharp outflows in March: Vallum Capital explains shift from liquid mutual funds to equities
    • 3 Vanguard ETFs Crushing the S&P 500 in 2026
    • High-Potential Mutual Funds to Invest in 2026
    • Bonds, Cash Remain Top Sources of Ballast for Equity Investors
    • Fidelity’s Most Underrated ETF Has Been Right About Bonds Longer Than Most Analysts
    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

    High-Potential Mutual Funds to Invest in 2026

    April 19, 2026

    Closed-End Funds: Looking For Infrastructure Opportunities With AI Driving Them Higher

    April 17, 2026

    Bet on value funds when the chips are down – Market News

    April 17, 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

    Bitcoin ETFs log $996M inflows even as Iran tensions resurface

    April 20, 2026
    Don't Miss
    Mutual Funds

    Run-up in US funds: Invest for market, currency hedge with 7-year horizon | Personal Finance

    April 20, 2026

      Several factors drove this performance. Surging mega-cap technology and artificial intelligence (AI)-driven stocks…

    Why Have Mutual Funds Exited EaseMyTrip?

    April 20, 2026

    Bitcoin ETFs log $996M inflows even as Iran tensions resurface

    April 20, 2026

    Sharp outflows in March: Vallum Capital explains shift from liquid mutual funds to equities

    April 20, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Foreign direct investments may fuel tropical deforestation

    July 16, 2024

    American Investment Firms Pour Billions Into Canadian Real Estate

    August 27, 2024

    Ghanaian chief justice sacked over allegations of misuse of public funds

    September 3, 2025
    Our Picks

    Run-up in US funds: Invest for market, currency hedge with 7-year horizon | Personal Finance

    April 20, 2026

    Why Have Mutual Funds Exited EaseMyTrip?

    April 20, 2026

    Bitcoin ETFs log $996M inflows even as Iran tensions resurface

    April 20, 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

    ₹50 lakh retirement corpus: How to invest in SCSS, mutual funds, equities and other assets — CA offers tips

    April 16, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

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