Innovative collaboration paves the way for geothermal energy

Stockholm, June 22, 2023 – Baseload Capital and Baker Hughes Join Forces to Drive Geothermal Power Worldwide.

Baseload Capital, a leading investment entity dedicated to advancing geothermal energy deployment globally, today announced its second strategic investment from energy technology company Baker Hughes. This innovative partnership sets the stage for geothermal energy and marks a significant milestone in the pursuit of clean, baseload and renewable power solutions for global markets.

Key Highlights of the Partnership:

1. Expanding Global Geothermal Project Development: Through strategic collaboration in multiple regions worldwide, Baseload Capital and Baker Hughes will bolster geothermal energy project development capabilities. This expansion aims to position geothermal as a high-impact, cleanenergy source for global markets.
2. Catalyzing Market Growth: The collaboration will facilitate the implementation of new commercial and development models, driving rapid market growth and online geothermal capacity expansion. The goal is to pave the way for a substantial increase in geothermal electricity production, heating and cooling, projected to surpass 100% by 2050 (including traditional hydrothermal sources).