Geothermal startups get another boost

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

Geothermal Plant and Blue Lagoon leisure park, Iceland.

Image Credits: Universal Images Group / Getty Images

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 heat 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 

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