An unsung hero in the renewables space is geothermal energy. Moving us away from the increasing amount of intermittency in grids globally, due to the rapid addition of renewable capacity, is geothermal energy – an energy source that is baseload, renewable, non-intermittent and, most importantly, clean.
Geothermal energy uses heat from the earth’s core, extracting heat from geothermal reservoirs using wells or other mechanisms. Once at the surface, fluids of various temperatures from the reservoirs can be used to generate electricity as well as serve as a heat source for manufacturing processes, helping to reduce the carbon footprint of heavy industry.
While using geothermal energy to produce electricity is nothing new, having first been discovered more than a century ago, it is still a relatively minor source of renewable energy globally, with only 15GW of global capacity operational. This means there is a tremendous opportunity to expand the use of this resource where available.
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.