With the global population forecast to grow to 10 billion by 2050, energy demand is expected to increase by 70% as billions move out of poverty. Shifting energy production to clean renewable sources becomes ever more critical if demand is to be met and the impact on the climate reduced.
Geothermal Energy is a clean, renewable resource that uses the earth’s natural heat for a myriad of applications, including electricity generation, district heating and desalination. The World Bank estimates that at least 40 of the world’s countries could be self-sufficient in power generation from geothermal sources alone. But due to prohibitively high drilling costs, geothermal energy has had limited opportunity to expand and meet its potential.
Strada uses patented innovative drill rig technology and protected operating systems, to drill wells faster and more cost-effectively than the competition, converting non-economically viable geothermal projects into attractive profitable projects, and unlocking the geothermal market as a sustainable renewable alternative.