Algar Geothermal Fall Update
Here’s a quick update about what’s going on at Algar Geothermal. (If you need a refresher, check us out at our home page..
Peter Graham was invited to attend the SLB digital Forum 2024 in Monaco in September. This trip was a complete success, as Peter made many significant connections there with senior members of the SLB community and other International green energy promoters.
As we suspected, European companies and agencies are much more interested in geothermal heat energy than most Canadian companies, as their energy security and vulnerability was exposed during the Russian Ukraine conflict. Natural gas prices continue to be high there, and as a result, countries in Europe are tracking faster on implementing alternative energy sources. We are pursuing those connections made in Monaco on LinkedIn, personalized emails and zoom meetings to at least increase the awareness of Algar and our solution (and most optimistically) to find an industry partner or investor to move us forward in the marketplace.
In a recent development, we are working with a startup incubator who is walking us through a concentrated program that will give us a complete data room with the documentation required to make a successful pitch to a venture capitalist or technical partner. This is an exciting development as the program is run by a Canadian with international mentors that are brought to the table to walk us through a focused definition of Algar Geothermal.
Some of the things that will be working on with them are:
- Pitch deck refinement
- Data room organization
- Financial model review
- Deep dive into the grants that are available
- Detailed market analysis
- Life cycle assessment plan
- Funding strategy
- Battle testing, where the members of the group work together to identify key risks and openly brainstorm mitigation strategies.
We are also exploring some more enhancements that we’re working on to maximize the heat extraction using the SLB Olga software.
That’s an overview of where we’re at. If you know of any well owner that would be interested in our technology, please put us in contact with them. If there is a development in your area of expertise that would move Algar Geothermal forward, please let us know.
Suppliers and industry connections, you know that we will be reaching out to you when the time comes to develop a pilot project..
