LEHI, Utah, Jan. 18, 2023 (GLOBE NEWSWIRE) -- DeepPower, Inc., the developer of a breakthrough geothermal drilling technology to access the Earth’s unlimited source of clean energy, today announced that CEO Andrew Van Noy discussed geothermal energy as a sustainable renewable energy source with Dr. Ricardo Barcelona, a current lecturer and former investment banker and energy-sector executive.
Ricardo G. Barcelona, who has a PhD in Management from King’s College London, United Kingdom, is a current lecturer at leading business schools. He served in senior leadership roles at Royal Dutch Shell, in the Netherlands and London. As an investment banker, he was a top rated equity analyst and adviser whilst at SBC Warburg and ABN Amro/Rothschild.
During the discussion, Dr. Barcelona shared an optimistic outlook on the future of geothermal energy as a renewable energy resource. Regarding sustainable alternatives to fossil fuels, Dr. Barcelona noted that in his book, Dynamic Decisions: Energy PIVOT, Adaptive Moves, Winning BOUnCE, he discusses how Slim Hole Drilling Technology can take a 30-million-dollar project and turn it into a 5-million-dollar one: “You have to make them better, make them cheaper, and make them commercially viable.” The pair discussed the benefits of geothermal energy compared to often subsidized alternatives. A significant benefit is geothermal's economic viability as a long-term renewable energy source. Dr. Barcelona noted that with its high conversion rate, geothermal might surpass less-sustainable, low-conversion rate alternatives like solar energy over the next ten years.
Andrew Van Noy, CEO of DeepPower, commented, “I was excited to discuss Slim Hole Drilling Technology and geothermal energy as a viable alternative to other forms of renewable energy. Given Dr. Barcelona’s expertise in the field, it was reassuring to share a positive outlook on our advances in geothermal drilling technology over the years to come.”
This CEO Chat can be viewed at https://www.youtube.com/watch?v=G9T8I5HUwhw
For more information about DeepPower, Inc., please visit our website at www.DeepPower.com
About DeepPower, Inc.
Deep Power is developing a breakthrough drilling technology to access Earth’s unlimited source of green geothermal energy. The Earth’s molten core is as hot as the Sun and harnessing just 0.1% of that heat energy can power humanity for 2 million years. Previous generations of drilling technology cannot go deep enough to make geothermal cost effective. We are developing a suite of advanced low-cost, high-temperature and high-pressure drilling systems to boldly go where no humans have gone before. The deeper we go the more energy we can unleash. Unlike large area solar and wind farms, a 9-inch hole by 5 miles deep can produce the same amount of power as 320 acres of solar panels. Like a power plug into the Earth, we aim to provide every city, state, and country direct and independent access to this “holy grail” source of eternal green energy.
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