Baseload Capital teams up with Orcan Energy in first U.S. oil and gas project
Baseload Capital proudly announces its first project in the U.S. to harness excess heat from oil and gas wells. This will also be the company’s first collaboration with German supplier Orcan Energy.
After evaluating several potential locations, Baseload Capital identified a suitable site with excess hotwater, which is a byproduct in the oil and gas extraction process. Using Orcan Energy’s modular solution which have proven successful in the oil and gas environment, the geothermal heat from this otherwise unutilized energy source will be used to generate CO2-free electricity.
Based on the results of the project, Baseload Capital will be able to evaluate the potential of developing similar projects at sites across the U.S.
“It is great to see that our technology and products provide the key to tap another huge field of unused energy, in this case geothermal heat in the oil and gas extraction process,” says Andreas Sichert, CEO of Orcan Energy. “This project will contribute to an affordable and secure energy transition towards a net-zero future.”
“The world cannot yet live without oil, but by taking advantage of an existing but untapped energy source, we can reduce its CO2 footprint. If the project is as successful as we anticipate, it will be the first of many successful joint projects.” says Baseload Capital CEO Alexander Helling
For more information, please contact:
Alexander Helling CEO of Baseload Capital
alexander.helling@baseloadcap.com
About Us
Baseload Capital is a specialized investment entity that funds the deployment of heat power worldwide. Our portfolio of companies in Iceland, Japan, Taiwan and the U.S. work with local communities and power companies to permit, build and commission heat power plants.
Heat power is an affordable form of renewable energy that can be harnessed from either geothermal resources or waste heat. By applying innovative financing structures to help our local operators build and run the heat power plants, Baseload Capital can help nations quickly transition away from fossil fuels and toward energy independence. The result will lead to more resilient societies and a planet in balance.
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