Though geothermal represents only a tiny fraction of current US energy production, several businesses and President Joe Biden’s administration are betting on technological advances to make it a backbone of the green transition.
“If we can capture that heat beneath our feet, it can be the clean, reliable, baseload-scalable power for everybody from industries to households,” Energy Secretary Jennifer Granholm told the CERAWeek conference in Houston this past week.
Her department estimates that geothermal energy could overtake hydroelectric and solar power in the country by 2050.
Geothermal, which draws on naturally high temperatures underground and is used mainly to produce electricity and heat buildings, amounted to only 1.6 percent of US energy consumption in 2022.
Enteq Technologies plc (LON:NTQ) develops and supplies equipment for Measurement, Logging and Geo-steering while drilling of wells for the Geothermal, Oil and Gas markets.
