LONG BEACH, Calif. & HOUSTON–(BUSINESS WIRE)– Sage Geosystems, Inc. (Sage) and California Assets Company (NYSE: CRC) at the moment introduced the signing of a Memorandum of Understanding (MOU) to determine a collaborative framework for pursuing industrial tasks and joint funding alternatives associated to subsurface vitality storage and geothermal energy technology in California.
This strategic partnership between Sage and CRC will give attention to 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 doesn’t embrace the demand for information facilities with synthetic intelligence (AI) capabilities.
By leveraging our mixed experience and sources, the businesses goal to realize important progress within the subject of subsurface vitality storage and geothermal energy technology.
“This MOU marks a major step ahead in our dedication to develop sustainable vitality options,” mentioned Francisco Leon, CRC’s President and Chief Govt Officer. “By working along with Sage, we goal to develop revolutionary applied sciences that can contribute to California’s clear vitality future.”
“We’re excited to accomplice with CRC in California because the group has a long-established presence within the state together with sturdy relationships with state companies and an understanding of the regulatory setting,” mentioned Cindy Taff, Sage Geosystems Chief Govt Officer. “Collectively we hope our subsequent technology geopressured geothermal expertise will add a lot wanted resiliency and reliability to the California energy grid.”
About California Assets Company
California Assets 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. For extra data, please go to crc.com .
About Sage Geosystems
Sage Geosystems was based in 2020 and is growing vitality storage and geothermal baseload applied sciences deep within the earth. The Sage Geosystems workforce has over 200 mixed years within the oil and fuel trade, with expertise delivering main tasks together with Deepwater, Arctic, and Unconventional shales. The corporate is headquartered in Houston, Texas. For extra data, go to www.sagegeosystems.com .
Contacts
Joanna Park
California Assets Company
joanna.park@crc.com
818-661-3731
Richard Venn
California Assets Company
richard.venn@crc.com
310-661-6014
Claire Underwood
Sage Geosystems
claire@teamsilverline.com
540-494-7552
