Companies to Collaborate on Geothermal Projects in Taiwan

GreenFire Energy Inc., Taiteck Co., Ltd, and Taiwan Power Company have signed a memorandum of understanding (MOU) to work together to develop geothermal projects in Taiwan. This agreement enables the companies to collaborate to develop geothermal projects with GreenFire Energy’s closed-loop technology, GreenFire’s GreenLoop™  The two companies aim to accelerate Taiwan’s progress towards its Net Zero Emissions 2050 goal.
Companies to Collaborate on Geothermal Projects in Taiwan
Ing-Sheng Tsay, Ph.D., Taiwan Power Company; Johnny C.Y. Liu and Coco Shih, Taiteck Co.

Taiwan Power Company is Taiwan’s state-owned energy company providing electricity, transmission and distribution network that can be accessed in every corner of Taiwan. In additional to traditional power sources, Taiwan Power Company manages the development of green energy, the reduction of carbon emissions and the saving of energy while ensuring sustainability in line with recent amendments to the Electricity Act.

GreenFire Energy has developed a versatile, closed-loop Advanced Geothermal System (AGS) called GreenLoop. GreenLoop can economically access the entire spectrum of geothermal and certain oil and gas resources that conventional geothermal technology cannot. The technology enables new and existing operators and developers to retrofit idle wells, to expand existing fields with new wells, and de-risk the development of new geothermal resources quickly and economically. Additionally, GreenLoop can be precisely tailored for optimal power generation and techno-economic feasibility.

“GreenFire Energy values the opportunity to work directly with Taiwan Power Company to develop geothermal projects in Taiwan. Taiwan Power Company has overall authority to produce power, enable energy security, and help to meet the country’s Net Zero Emissions 2050 goal. Our GreenLoop technology will enable Taiwan Power Company to accelerate and de-risk geothermal projects in Taiwan. We also appreciate the dedication that Taiteck Co., Ltd has already demonstrated in assisting us in implementing projects in Taiwan,” said Joseph Scherer, chief executive officer, GreenFire Energy Inc.

“GreenLoop technology can also be applied to old geothermal wells that are depleted or temporarily abandoned. Old geothermal wells can be made productive and generate electricity. Even dry wells drilled from exploration failures can still generate electricity if they have the proper geothermal conditions and install the GreenLoop Downbore Heat Exchanger. We look forward to deploying the GreenLoop technology to help accelerate the development of geothermal energy in Taiwan,” said Johnny C.Y. Liu, president of Taiteck Co., Ltd.

Baterías con premio en la gran feria europea del almacenamiento de energía
El jurado de la feria ees (la gran feria europea de las baterías y los sistemas acumuladores de energía) ya ha seleccionado los productos y soluciones innovadoras que aspiran, como finalistas, al gran premio ees 2021. Independientemente de cuál o cuáles sean las candidaturas ganadoras, la sola inclusión en este exquisito grupo VIP constituye todo un éxito para las empresas. A continuación, los diez finalistas 2021 de los ees Award (ees es una de las cuatro ferias que integran el gran evento anual europeo del sector de la energía, The smarter E).