ATLANTA, February 12, 2024 - Teverra, a leading clean energy company headquartered in Atlanta, announces a significant milestone in its commitment to advancing sustainable energy solutions. The company has been awarded a geothermal evaluation contract by the Colorado Energy and Carbon Management Commission (ECMC) to conduct a comprehensive analysis of geothermal resources throughout the state.
In collaboration with the esteemed Colorado Geological Survey (CGS), Teverra will undertake a statewide geothermal resource characterization and market analysis. This initiative aims to consolidate existing knowledge on geothermal resources in Colorado, assess applicable commercial geothermal energy technologies, and evaluate the potential for decarbonization through geothermal utilization.
Colorado, known for its rich history in mining, hydrocarbon production, and renewable energy development, including wind and solar power, boasts abundant hot springs indicative of geothermal potential. While previous studies have focused on individual sites, there has been a lack of comprehensive analysis regarding the economic viability of statewide geothermal development.
Joseph Batir, Geothermal Lead at Teverra, expressed enthusiasm about the partnership, stating, "Geothermal energy presents a crucial pathway for Colorado to sustain its legacy of energy leadership. We are thrilled to collaborate with CGS and ECMC to identify and quantify geothermal development opportunities across the state, contributing to Colorado's energy future."
The study will encompass an updated resource assessment and development plan, examining opportunities for electricity production, direct use applications, and geothermal heat pump installations. Additionally, the potential repurposing of wells in prominent sedimentary basins will be explored.
Upon completion, the findings of this groundbreaking project will be publicly accessible through ECMC, facilitating informed decision-making and strategic planning for Colorado's energy landscape. Teverra remains dedicated to driving sustainable energy innovation and looks forward to delivering impactful results through this initiative.