AltaRock Energy, Inc. receives a total of about US$ 26.5 million DOE grants for exploration and demonstration project at Newberry Crater, Oregon, a partnership project with Davenport Power.
Reported by the company, “AltaRock Energy, Inc. received notification from the U.S. Department of Energy that its grant applications for exploration and demonstration projects were selected for negotiation and finalization of grant awards under The American Recovery and Reinvestment Act of 2009 (aka “Stimulus Bill”).
The demonstration project grant application, for $24,999,530 is to demonstrate an Engineered Geothermal System (EGS) at the Newberry Geothermal Resource Area in Oregon. This demonstration project is in partnership with Davenport Power, the operator of the Newberry site.
The exploration grant application, for $1,450,000 is to develop exploration methods for identifying EGS drilling targets more efficiently.
“We are honored to have been selected to receive funding for work at Newberry and for EGS exploration techniques and look forward to the promise these developments hold for expanding America’s renewable energy options” said AltaRock CEO Donald O’Shei. “The Department of Energy, through programs like this, is helping to solve the nation’s energy challenges and to ensure its
future economic prosperity.”
Source: Company announcement via Reuters