Innovative Collaboration Paves the Way for Geothermal Energy
June 26, 2023
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:
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.
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).
This part of the IT industry is rarely talked about or even acknowledged, but it is very much real. IT has a large climate footprint, and two biggest problems of this industry are demand for energy and hardware.
Baseload Capital is a specialized investment entity that leads partnerships to scale up geothermal power deployment worldwide. Geothermal power comes from the Earth’s inner core and provides a fossil-free, stable, 24/7 available baseload for electricity and heating and cooling. We work with like-minded investors to fund geothermal energy projects and tap into the planet’s largest renewable energy source that lies right beneath our feet.
We establish operating companies in global locations, which comprise the Baseload Power organization. They partner with local communities and power providers to commission, permit and build Baseload Capital-funded geothermal power plants.
Together we dream of a planet in balance with resilient societies that run on renewable energy.
We will be part of this transition by leading partnerships to scale up geothermal project development.