If we could capture just 0.1 percent of the heat content of the earth, we could supply humanity’s total energy needs for 2 million years, according to the U.S. Department of Energy.
Yet geothermal currently accounts for just 0.4 percent of total U.S. utility-scale electricity generation, nearly half of which came online in the 1980s. Investments dried up with the rise of solar and wind, which required less upfront capital and became increasingly economically attractive.
That trend is set to change. Corporations and localities worldwide are looking to decarbonize electricity, matching energy demand with clean energy supply— a concept often referred to as 24/7 carbon-free energy. This, coupled with technological advances, has poised geothermal for growth.
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.