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Geothermal energy is widely used throughout the world as a source of renewable green baseload power that is reliable day and night regardless of any weather conditions.
Geothermal energy is carbon neutral and is available 24 hours per day. Geothermal energy has been used for over 100 years and is now used for electricity generation across more than 30 countries.
Earth’s Energy Limited (“Company”) has an 84% interest in Volt Geothermal Pty Ltd (“Volt”) and Within Energy Pty Ltd (“Within”), who hold geothermal projects in South Australia and Queensland (collectively the “Projects”). The Projects comprise of highly prospective geothermal licenses surrounded by key existing infrastructure for electricity generation and commercial transmission.
“Just 1% of the hot rock energy less than 5 km under the surface would be enough to meet Australia’s entire power needs for 26,000 years”
“Geothermal energy, specifically through enhanced geothermal systems (EGS), could outpace nuclear power in the future. It has the potential to generate power on a large scale, even in locations where traditional geothermal resources are unavailable.”
“Earth’s Energy holds Australia’s most advanced geothermal projects. Paralana is a world-class EGS target that can quickly be brought online to provide green baseload power to Australian grids.
“Paralana has already been drilled and piloted to over 4km depth – it is a known geothermal resource that was ambitiously pioneered 15 years ago. The last 10 years of global development in EGS engineering and technology means Paralana can quickly be re-assessed for modern development.”
Josh Puckridge, CEO of Earth’s Energy
The Company plans to focus on systematic work with global leaders to apply the developments of the last 15 years to the Company’s prospective portfolio.
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