Geodynamics - electricity from “hot fractured rocks”
The latest announcement from Australia’s Brisbane-based Geodynamics Limited [ASX:GDY (Yahoo) or (ASX fact sheet)] outlines some of the company’s plans for 2008.
Geodynamics Prepares For Landmark Year (January 15, 2008)
Geodynamics Limited has outlined several milestones for the coming year that it believes will ultimately result in Australia having a very significant and cost competitive clean energy resource comparable to its gas resources in Western Australia.
The first megawatts (MW) of geothermal power produced from the Cooper Basin and the final design of a 50 MW power plant for commercial operation are just two of the landmark events planned for Australia’s most advanced geothermal energy company.
(for an introduction to the company, the rest of this announcement is worth a read)
Geodynamics listed on the ASX in September 2002, is categorised in the GICS Industry Group Utilities, and has a current market capitalisation of around A$319m.
Posted: January 15th, 2008 under ASX Listed, Companies, Renewable Energy.
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