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Geothermal Technologies will use its drilling technology to enable efficient geothermal energy extraction in the Denver-Julesburg Basin.
Geothermal Technologies (GTI) has filed for drilling permits with the Division of Water Resources in the State of Colorado, with plans to drill geothermal wells for generating utility-scale electricity in the Denver-Julesburg (D-J) Basin, Weld County, Colorado. The project aims to leverage GTI's technology to unlock the geothermal potential of the region, contributing to Colorado's renewable energy targets.
GTI's GenaSys Geothermal Energy Harvesting System, combined with Organic Rankine Cycle (ORC) power generation technology, enables the efficient extraction of geothermal energy in geographic regions previously inaccessible through conventional approaches. The technology holds promise for making geothermal baseload power both cost-effective and scalable on local, regional, and global levels.
Jim Hollis, President and COO of GTI, shared the company's plans to begin by constructing a small 5 MW power plant in the D-J Basin and scale up from there. "Our GenaSys technology promises to make geothermal baseload power both low in cost and truly scalable – locally, regionally, and globally," he said.
J. Gary McDaniel, CEO of GTI, expressed excitement about the potential for advanced geothermal power development in Colorado. "This is an important step forward in our plans to construct a geothermal power plant in the D-J using GTI's suite of technologies," he stated. GTI estimates that over 5 GW of geothermal energy can be harvested in the DJ Basin using their technology, with the potential for installing up to 400 MW of baseload electricity production.
Geothermal electricity is a baseload power source, complementing intermittent renewable power sources, improving grid reliability, and offering flexibility for grid operators to provide continuous power. Developing geothermal power will help Colorado reach its 100% renewable energy goal by 2040.
GTI's flagship geothermal power project in the D-J supports Colorado Governor Jared Polis's "Heat Beneath Our Feet" initiative, which he has supported as Chair of the Western Governors' Association. Other areas in Colorado, including the Piceance, Raton, and San Juan Basins, also offer opportunities for GTI's geothermal resource development. Moreover, GTI's technologies have global relevance, as similar sedimentary basins can be found worldwide, opening up new possibilities for sustainable energy production.