Petratherm makes geothermal energy breakthrough

Petratherm Limited (PTR) today announced it has found a way to lower the cost and risk of geothermal energy. Geothermal energy is the production of electricity from steam generated through circulating water through hot rocks kilometres underground.

New engineering studies by Petratherm have shown that the water can readily be heated and returned to surface in less dense rock strata above the target hot granites.

Until now, hot rock energy projects in Australia have focused on establishing this “heat exchange” process within the heat producing granite below, rather than the covering strata immediately above them.

The breakthrough would substantially reduce drilling and operating costs and risk factors associated with hot rock energy projects, the group noted.

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