While the potential for geothermal energy is significant, it remains largely untapped in most areas of the world due to the technological limitations of the past. That is rapidly changing with Enhanced Geothermal Systems (EGS) being developed to provide baseload, dispatchable and energy storage to balance the deluge of intermittent renewables being added to the electric grid. EGS present a promising solution for meeting the skyrocketing electricity needs of the future by harnessing the abundant heat beneath the Earth’s surface.
EGS is essentially a man-made reservoir that harnesses the heat from hot rocks beneath the Earth’s surface. In areas where there is not enough natural permeability or fluid saturation, fluid is injected into the subsurface to induce fractures and create permeability. EGS can access previously untapped geothermal resources, including those in regions that were once thought to be inaccessible. This technology has the potential to play a crucial role in the worldwide shift towards electric energy, offering a clean and nearly limitless supply of power.
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.