GreenFire Energy Inc., and Joy International LLC, announced a representation agreement to develop strategic relationships with Japanese companies for ECO2Gâ„¢ geothermal power generation projects in Japan and Southeast Asia. GreenFire Energy's proprietary ECO2G technology brings a dramatically improved approach to geothermal power generation to meet the demand for environmentally friendly power. ECO2G was developed in conjunction with several U.S. national laboratories.
Japan has the world's third largest geothermal reserves behind the U.S. and Indonesia1. Geothermal power generation had traditionally been hindered by the risk of environmental impact from legacy geothermal technology. But the crucial need for renewable energy has driven Japan's Ministry of Economy, Trade and Industry (METI) to expect 380 to 850 MW of new installed geothermal capacity by 20302. ECO2G's closed loop, modular design is particularly suited to meet Japan's need for renewable energy as it is the most environmentally form of grid-scale, geothermal power.
"I firmly believe that GreenFire Energy's ECO2G technology will be a game changer for geothermal power generation in Japan and Southeast Asia," said Mark Okamoto, president of Joy International LLC. "Japanese companies have been developing geothermal projects in Indonesia and the Philippines. We will focus on creating strategic relationships with the Japanese companies that can implement ECO2G technology on a global basis," said Okamoto.
ECO2G's closed loop, modular design is particularly suited to Japan's crucial need for renewable energy and is the most environmentally form of grid-scale, geothermal power. ECO2G generates grid-scale power by harvesting hotter, larger heat resources found in the impermeable, "plastic zone" of the earth at depths from 3 to 8 km. The modular, standardized architecture makes geothermal power generation for the first time a predictable, large-scale and industrial process. Quick response SCO2 turbines provide continuous, yet flexible power to meet changing demand on short notice and without requiring energy storage. Equally important ECO2G is environmentally superior to other renewable energy sources; it does not require water, has no greenhouse gas emissions, waste streams, dangerous chemicals, visual obstructions or risk of induced seismic or surface subsidence. ECO2G was developed with the U.S. Department of Energy, Lawrence Berkeley National Laboratory, Lawrence Livermore National Laboratory and Pacific Northwest National Laboratory.
Joseph Scherer, chief executive officer of GreenFire Energy Inc. described the importance of the partnership, "Japanese companies have been instrumental in developing the geothermal industry worldwide. Working with GreenFire Energy's ECO2G, these companies can expand global geothermal power generation. We are confident in the ability of Joy International to introduce these companies to GreenFire Energy and to foster strong and mutually beneficial relationships."
GreenFire Energy Inc. | http://www.greenfireenergy.com
1 Smart Japan. (2014, September 11). Geothermal Power: Japan has world's third largest geothermal reserves, 60 percent of which can be developed. Japan for Sustainability. Retrieved from http://www.japanfs.org/en/news/archives/news_id035043.html
2 Meg Cichon. (2015, May 29). Is Japan the Next Boom Market for the Geothermal Energy Industry? Renewable Energy World. Retrieved http://www.renewableenergyworld.com/articles/print/volume-18/issue-3/features/geothermal/is-japan-the-next-boom-market-for-the-geothermal-energy-industry.html