Geothermal energy is heat energy generated and stored in the Earth (U.S. Energy Information Administration, 2022). It is considered a renewable energy source because the heat is continuously produced inside the Earth through radioactive decay and residual heat from its formation (TWI Global, 2022). Geothermal energy can be accessed by drilling water or steam wells in areas where underground reservoirs are available, and it has a wide range of applications from producing electricity, to heating buildings, to industrial processes.
Global usage of geothermal energy remains relatively small, but is growing steadily. As of 2020, geothermal energy provided about 0.3% of total worldwide energy consumption (International Renewable Energy Agency, 2021). However, many experts see great potential for expansion, especially for direct heating applications.
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.
