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Startups Are Shaking Up Geothermal Power’s Prospects

Geothermal energy has long been recognized as a reliable and sustainable source of power but has struggled to gain widespread adoption due to high upfront costs and limited access to suitable geological formations. However, a new generation of startups is shaking up the geothermal industry with innovative technology and business models that could make it a more attractive option for investors and utilities. According to an article by Power Magazine, one such startup, Eavor Technologies, has developed a closed-loop geothermal system that eliminates the need for drilling into specific geological formations. Instead, Eavor’s system circulates water through a network of underground wells, using the natural heat of the earth to generate steam and power turbines. This system can be deployed in a wide range of locations, making geothermal power accessible to many more communities and industries.

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