Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Is T. Rowe Price Emerging Markets Stock (PRMSX) a Strong Mutual Fund Pick Right Now?
    • RBI repo rate hike: How mutual fund investors should approach equity, debt and SIPs
    • 3 Top-Ranked Dimensional Mutual Funds for Strong Long-Term Returns
    • 3 Small-Cap Value Mutual Funds Poised for Strong Growth
    • Bitcoin ETFs Bleed $485M as BTC Falls Toward $82K
    • First-time mutual fund investor? How to choose the right fund from hundreds of options, expert explains
    • Edelweiss US Technology Fund: 40% of portfolio riding the AI supply chain
    • Bonds To Outperform Stocks? BofA’s Savita Subramanian Says S&P 500 Returns May Fall Below 5% Over 10 Years
    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

    Vanguard Money Market Funds: What You Need to Know

    October 7, 2026

    Best large and mid-cap mutual funds October 2026: Consistent performers across YTD, 3- and 5-year returns—and their beta

    October 6, 2026

    SEC Clears 3x Leveraged Bitcoin and Ethereum Funds for Trading

    October 5, 2026
    Leave A Reply Cancel Reply

    Top Posts

    Is T. Rowe Price Emerging Markets Stock (PRMSX) a Strong Mutual Fund Pick Right Now?

    October 8, 2026

    Savings bonds: What they are and how to cash them in

    September 11, 2025

    RBI repo rate hike: How mutual fund investors should approach equity, debt and SIPs

    October 8, 2026

    Bitcoin ETFs Bleed $485M as BTC Falls Toward $82K

    October 8, 2026
    Don't Miss
    Mutual Funds

    Is T. Rowe Price Emerging Markets Stock (PRMSX) a Strong Mutual Fund Pick Right Now?

    October 8, 2026

    On the lookout for a Non US – Equity fund? Starting with T. Rowe Price…

    RBI repo rate hike: How mutual fund investors should approach equity, debt and SIPs

    October 8, 2026

    3 Top-Ranked Dimensional Mutual Funds for Strong Long-Term Returns

    October 8, 2026

    3 Small-Cap Value Mutual Funds Poised for Strong Growth

    October 8, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    What Are Corporate Bonds? | How to Buy them in the UK

    October 1, 2021

    SBI Mutual Fund files draft documents with Sebi for three index funds

    August 5, 2024

    Congo ex-justice minister sentenced to 3 years of forced labor for embezzling public funds

    September 2, 2025
    Our Picks

    Is T. Rowe Price Emerging Markets Stock (PRMSX) a Strong Mutual Fund Pick Right Now?

    October 8, 2026

    RBI repo rate hike: How mutual fund investors should approach equity, debt and SIPs

    October 8, 2026

    3 Top-Ranked Dimensional Mutual Funds for Strong Long-Term Returns

    October 8, 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.