SAN FRANCISCO, California – March 24, 2021 – GreenFire Energy Inc. today announced that it has entered into an agreement with world geothermal leader Energy Development Corporation (EDC) to perform a commercial retrofit that will restore and generate steam from an idle geothermal well in its Mahanagdong geothermal facility located in Leyte, Philippines.
The idle geothermal well has not been usable due to the high level of non-condensable gases produced from the well when flowing. The heat mining system will correct this and meet its surface system pressure requirements once it is installed and commissioned in 4Q 2021. The data and experience gathered with the surface project are part of the collaborative efforts to evaluate the feasibility of using Greenfire GreenLoop™ technology in other opportunity wells of EDC.
GreenFire GreenLoop is a patented, closed-loop geothermal energy system that generates power from geothermal resources where conventional geothermal systems cannot effectively operate, typically due to lack of permeability, water, or pressure. The first demonstration of GreenLoop was performed at the Coso KGRA in California, USA in 2019 and showed that GreenLoop can retrofit unproductive or idle geothermal wells and run successfully at field-scale. It is estimated that over 20% of geothermal wells worldwide are unproductive from inception or due to degradation over time and it is further estimated that only 2% of the world’s geothermal resource can be profitably harvested with conventional technology.
"We have been looking at GreenFire Energy’s closed-loop approach to geothermal for some time and are happy to see the progress. While we see potential for the technology in large greenfield projects too, we see the fast payback on well retrofits as the easiest way to start," said Engr. Liberato S. Virata, senior vice president and head of EDC’s Facilities Operations & Maintenance Group.
GreenFire Energy and EDC are also working together to analyze other unproductive geothermal wells, and less productive geothermal fields where the potential for using this technology will be of the greatest technical and economic benefit.
“Being able to generate steam from our idle geothermal wells that will enable us to supply more of that much needed clean, reliable, stable power that our country needs is all a part of fulfilling EDC’s mission to forge collaborative pathways for a decarbonized and regenerative future,” added Virata.
EDC, on its 45th year anniversary, has been spreading awareness on its new mission through its Regenerative Partnerships at 45 campaign to elevate everything it touches--from its employees, communities, the environment, its customers, and even partners like GreenFire Energy, Inc.
“We really appreciate EDC’s willingness to consider and implement new solutions to geothermal wells and resources that have excellent potential but with production issues that can’t be addressed by conventional technology. Many geothermal operators around the world have similar needs, but EDC is one of the most innovative so we're pleased to have the opportunity to work with them," said Joseph Scherer, chief executive officer, GreenFire Energy Inc.
About GreenFire Energy Inc.
GreenFire Energy Inc. develops and deploys innovative, closed-loop technology to unlock the world’s largest source of continuous renewable energy. GreenFire Energy GreenLoop™ technology exploits vast, typically inaccessible geothermal resources and enables cost competitive, continuous, and flexible power generation with unrivaled environmental advantages. GreenLoop technology, demonstrated at the Coso geothermal field in Coso, California, is versatile and has a number of additional high-value applications, including use for mineral extraction, hydrogen production, and energy storage. GreenFire Energy offers Field Scale and Well Retrofit Solutions for a wide spectrum of energy providers including those in the diversified renewable energy, geothermal, and oil and gas industries.
GreenFire Energy’s technology has been developed with grants from the U.S. Department of Energy and the California Energy Commission. The technology is the result of years of research conducted in concert with U.S. National Laboratories, major universities, and eminent experts in multiple scientific disciplines. GreenFire Energy is headquartered in San Francisco, California, USA. For more information visit www.greenfireenergy.com.
About Energy Development Corporation (EDC)
EDC’s over 1,400MW total installed capacity accounts for 20% percent of the Philippines’ total installed renewable energy capacity while its over 1,200MW geothermal portfolio accounts for 62 percent of the country’s total installed geothermal capacity, putting the Philippines on the map as the 3rd largest geothermal producer in the world. EDC is also a licensed Retail Electricity Supplier that helps businesses and institutions lower their carbon footprint by providing them with clean, renewable, reliable, and stable power from its baseload geothermal or Geo 24/7 resource. www.energy.com.ph
Media Contact:
Hollis Chin
VP Marketing
GreenFire Energy Inc.
+1.888.899.7363