Odd Lots Tim Latimer on Solving the Financing Problem for Geothermal
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Dec 13, 2024 Tim Latimer, Founder and CEO of Fervo Energy, dives into the complexities of financing geothermal energy projects. He discusses how fracking technology can transform geothermal into a sustainable energy source, yet faces funding hurdles. Latimer highlights the transition from venture capital to institutional funding and the impact of interest rates on project viability. He also addresses misconceptions in the financial sector about geothermal technology and the importance of streamlining federal permitting processes for broader adoption.
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Advanced Geothermal's Potential
- Geothermal energy offers clean, reliable baseload power, but its availability has been limited to specific geological conditions.
- Advanced geothermal technology allows access to deeper, hotter resources, potentially expanding its use significantly.
Fracking for Geothermal
- Tim Latimer, CEO of Fervo Energy, applied fracking tech from oil and gas to geothermal.
- Geothermal requires higher temperatures and involves harder rock, necessitating technological adaptations.
Proven Geothermal Technology
- Fervo Energy's partnership with Google led to a successful geothermal project in Nevada.
- The project demonstrated sustained energy production over a year with no decline, proving the technology.