J.David Reynolds
Florence, MA (USA)
Role(s):
Atlantic Geothermal LLC
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Startup
Location:
Florence
Industry:
Energy
Year Founded:
2007
Number Employees:
INVALID
Description:
Prospectus 2008
I am very interested in what you could potentially do for our company. We are developing a new type of geothermal power plant. Recent work by some of the world’s leading experts (Jefferson Tester, MIT) on geothermal power has proven that there is plenty of energy stored below ground in the form of hot rocks. The report states that just tapping a small amount of this heat could provide all our electricity needs for thousands of years. But as Tester notes, in order for this to happen the cost of deep drilling has to come down. The issue of high operating cost due to low porosity of rock in New England has to be solved.
Our model for producing geothermal power does both of these things. First, instead of using a well field with bore holes every 1,500 ft., we use one main