From Texas to social media: Former Big Oil execs exploring geothermal energy

[JACK AYLMER]

THE ENERGY NEEDED TO KEEP THE SOCIAL MEDIA PLATFORMS WE USE EVERYDAY RUNNING MAY SOON COME FROM BENEATH OUR FEET.

THIS WEEK, META ANNOUNCED A DEAL TO POWER ITS DATA CENTERS – WHICH SUPPORT SERVICES LIKE FACEBOOK, INSTAGRAM, AND THREADS – WITH CARBON-FREE GEOTHERMAL ENERGY. 

TO MAKE THIS HAPPEN, THEY’LL BE PARTNERING WITH SAGE GEOSYSTEMS-

A CLEAN ENERGY STARTUP FOUNDED BY FORMER BIG OIL EXECUTIVES THAT HAS BEEN AT THE FOREFRONT OF DEVELOPMENTS IN THIS EMERGING SECTOR RECENTLY.

[CINDY TAFF]

“There’s a huge global interest in renewables and geothermal, to me, has huge untapped potential … We want to deploy geothermal now. We want to use off the shelf oil and gas equipment, technologies, people, and pursue it.”

[JACK AYLMER]

SAGE IS RELYING ON ITS OIL INDUSTRY KNOW-HOW TO USE THE RESOURCES WITHIN OUR EARTH FOR BOTH PRODUCING AND STORING ENERGY.

THIS TYPE OF RENEWABLE POWER WORKS BY DRILLING ARTIFICIAL RESERVOIRS THAT HARVEST HEAT FROM THE PLANET.

THIS PROCESS CAN BE USED FOR BOTH POWERING HOMES OR SAVING UP EXCESS ENERGY FROM OTHER GREEN TECH TO BE USED FOR LATER. 

THE EPA ESTIMATES THAT PEOPLE WHO USE GEOTHERMAL COULD SAVE AS MUCH AS 70 PERCENT ON THEIR HEATING COSTS-

AND STORING ENERGY THROUGH THIS METHOD CAN ALSO BE SIGNIFICANTLY CHEAPER.

[CINDY TAFF]

“Our background in oil and gas tells us that you have to optimize that system together in order to come up with a cost effective and, quite frankly, a cost competitive solution to solar, wind and natural gas.”

[JACK AYLMER]

JUST A FEW WEEKS BEFORE THIS LATEST INITIATIVE WITH META, THE STARTUP UNVEILED NEW DEVELOPMENTS ON ANOTHER MAJOR PARTNERSHIP WITH THE STATE OF TEXAS.

IN THAT DEAL, SAGE WILL BE LOOKING TO BUILD THE WORLD’S FIRST GEOTHERMAL ENERGY STORAGE SYSTEM.

ULTIMATELY THEY HOPE OTHER OIL INDUSTRY PLAYERS WILL JOIN THEM IN THE GEOTHERMAL ENERGY SPACE TO FURTHER PROLIFERATE THIS TECH.

BUT IF OTHERs REMAIN HESITANT, SAGE SAYS IT WON’T STOP THEM FROM PUSHING AHEAD.

[CINDY TAFF]

“What surprised me is, I guess it’s the untapped potential of leveraging oil and gas skills we can basically teach how to drill wells more efficiently and effectively, and just use our performance management skills … It would be nice if the major oil and gas companies got into the game, but if they don’t, we don’t see that as a deterrent.”

[JACK AYLMER]

JACK AYLMER – STRAIGHT ARROW NEWS.