Companies Form JV To Develop, "First Geothermal Power Plant in Texas"

Geothermal Core Inc., a geothermal exploration and production power company, and GEG, ehf, a geothermal developer and EPC company, have entered into a definitive agreement to form a Joint Venture ("JV").

"The primary focus of the JV is the development of clean baseload electricity in Texas powered by geothermal energy. The partners are now engaged with origination of the first utility-scale, geothermal power plant in the Lone Star State," the companies said

"[T]he initial mission at Geothermal Core is the successful deployment in the interior Gulf Coast region. This region has geothermal resources proven by deep vintage oil / gas wells and 3-D seismic studies. Researchers working for the JV are currently analyzing the most optimal project sites for geothermal plants near Houston and greater Texas," the companies said

"Geothermal Core and GEG are excited to begin work and are currently evaluating multiple geothermal sites near Houston to deploy Texas' first geothermal power plant," the companies said