Sage Geosystems and California Sources Company announce strategic partnership
Sage Geosystems and California Sources Company have partnered for the deployment of subsurface vitality storage and geothermal energy in California.
Sage Geosystems, Inc. (Sage) has signed a Memorandum of Understanding (MOU) with the California Sources Company (NYSE: CRC) to determine a collaborative framework for pursuing business tasks and joint funding alternatives associated to subsurface vitality storage and geothermal energy technology in California.
The strategic partnership between Sage and CRC will deal with growing clear and dependable vitality options within the State of California. Present estimates are that the worldwide electrical energy demand will double by 2050, and this quantity is prone to improve additional with the rising demand for knowledge facilities with synthetic intelligence (AI) capabilities.
By leveraging our mixed experience and sources, the businesses purpose to attain important progress within the area of subsurface vitality storage and geothermal energy technology.
“This MOU marks a major step ahead in our dedication to develop sustainable vitality options,” stated Francisco Leon, CRC’s President and Chief Government Officer. “By working along with Sage, we purpose to develop progressive applied sciences that may contribute to California’s clear vitality future.”
California Sources Company (CRC) is an unbiased vitality and carbon administration firm dedicated to vitality transition. CRC is dedicated to environmental stewardship whereas safely offering native, responsibly sourced vitality. CRC can also be centered on maximizing the worth of its land, mineral possession, and vitality experience for decarbonization by growing carbon seize and storage and different emissions-reducing tasks. Additionally it is a member of the Wells2Watts geothermal analysis consortium led by Baker Hughes.
“We’re excited to associate with CRC in California because the group has a long-established presence within the state together with sturdy relationships with state businesses and an understanding of the regulatory atmosphere,” stated Cindy Taff, Sage Geosystems Chief Government Officer. “Collectively we hope our subsequent technology geopressured geothermal expertise will add a lot wanted resiliency and reliability to the California energy grid.”
Houston, Texas-based Sage Geosystems is growing vitality storage and geothermal baseload applied sciences by leveraging their over 200 mixed years within the oil and fuel trade. The corporate had lately entered right into a land use settlement for the deployment of a 3-MW Geopressured Geothermal System (GGS) vitality storage facility in Christine in Atascosa County, Texas.
The corporate had additionally signed a Energy Buy Settlement with Meta Inc. for the availability of geothermal energy to Meta’s knowledge facilities within the US.
