Clean energy and the role it has to play are expanding, as is its stock. Renewable energy is standing out as one of the fastest-moving energy sectors. Geothermal Technologies are paving the way for what could potentially alter the climate profile of our planet.
As clean energy continues to expand, geothermal energy stocks could play a critical role in addressing global energy supplies, with renewables continuing to stand out as one of the fastest-moving energy sectors. So where does geothermal energy factor into all of this?
David Fessler is the Engineering Strategist of The Oxford Club. Fessler has been trading stocks for more than 50 years. He recently wrote about geothermal energy stocks as a promising investment opportunity.
Says Fessler “If you drill deep enough anywhere on the planet, you get to hot rock. Earth does have a molten core, after all. And now companies are developing drilling techniques and technologies to access that deep heat. The extracted heat can be used to warm a home. And in a larger system, it can power a generator.”
Geothermal Technologies Stock Is Heating Up
The Advanced Projects Research Agency (ARPA-E) recently put out an astounding estimate. They believe “just 0.1% of Earth’s total heat content could meet our energy needs for 2 million years!” This would mean that these stocks could be some of the most profitable investments around in the foreseeable future.
Eavor Technologies $40 Million Funding Round
Last spring, Eavor Technologies completed a successful USD-40-million funding round which enabled their continued development of Geothermal Technology. Their contributors for the funding round consisted of Chevron Technology Ventures, BP Ventures, Singapore’s Temasek, Canada’s BDC Capital, US Utility Eversource Energy, and Vickers Venture Partners.
A major tell of value that geothermal technology has is Chevron Technology Ventures shifting from investing in big oil companies to the renewable energy sector. As one of the larger investors in the geothermal energy stock space, their investment shows the value and financial gain with renewables as a truly tangible one. The reason for these large-scale investments is simply that they make sense, especially considering the substantial correlation between drilling for oil and drilling to access deep heat. These companies have many of the resources needed to assist in the transition, a transition of great importance and one that is looking to be as environmentally fruitful as it is financially.
Continue reading “Geothermal Energy Stocks to Watch” on the Investment U website.