Gradient Geothermal, a Colorado-based geothermal energy pioneer, has taken a significant step in bridging the gap between traditional energy production and sustainable practices.
Spurred by economies re-opening after the global pandemic and with fuel supply chains drastically affected by the Russian invasion of Ukraine, the UK has been gripped by an energy crisis since the Autumn of 2021 with energy prices steadily climbing to reportedly be higher than all but three EU states.
Across the globe, momentum is building behind geothermal energy. In the US, the Biden-Harris administration identified it as one of the crucial components of facilitating a carbon-neutral grid by 2035, recently committing a further US$31mn to six geothermal projects across the country.
The European Union (EU) has made clear its position to wean itself off of Russian gas following the invasion of Ukraine and has made fair progress so far with the share of Russia’s pipeline gas in EU imports dropping from more than 40% in 2021 to around 8% in 2023.
The potential of geothermal energy increases the further down a project goes, allowing it to access hotter resources.
Situated just outside of Hinton, Alberta, the groundbreaking initiative represents a major step forward in geothermal energy development. With construction set to begin in early 2025, the project will drive both sustainable energy solutions and agricultural growth.