Geothermal startups get another boost

Geothermal startups get another boost from Chevron as the oil giant backs a geothermal project developer.
In the news
March 1, 2021

Geothermal startups get another boost from Chevron as the oil giant backs a geothermal project developer.

 

The U.S.-based oil major Chevron is doubling down on its investment in geothermal power by investing in a Swedish developer of low-temperature geothermal and geothermal power projects called Baseload Capital.

 

Oil companies are under pressure to find new lines of business as the world prepares for a massive shift to renewable energy resources to power all aspects of industry in the face of mounting climate-related disasters caused by greenhouse gas emissions warming the temperature on the planet.

 

Joining Chevron in the investment was the ubiquitous billionaire-backed clean energy investment firm Breakthrough Energy Ventures and a Swedish investment group called Gullspang Invest AB…

Read the full article at Tech Crunch