LEHI, Utah, June 02, 2023 (GLOBE NEWSWIRE) -- DeepPower, Inc., the developer of a breakthrough geothermal drilling technology today announced that Andrew Van Noy, the Company’s CEO, recently visited the University of Oklahoma (“OU”) for the unveiling of a new geothermal drilling rig designed for faster and more efficient drilling.
The rig was conceptualized by Associate Professor Saeed Salehi, Ph.D., and Master of Science in petroleum engineering student Orkhan Khankishiyev and is the tallest geothermal rig in the country. It is designed to be a testbed for the new breakthrough deep drilling technology that DeepPower is working on with OU. Initial design modeling suggests the new drilling technology can drill 300% faster than competing millimeter-wave technology and 600% faster than conventional methods.
Dr. Salehi, an expert in petroleum and geological engineering, emphasized the magnitude of this advancement, dubbing it a step closer to "Geothermal Anywhere."
Mr. Van Noy not only witnessed the unveiling of the new drilling rig, but also announced DeepPower’s commitment to accelerating the technical development needed to reach the superhot rock layer of the Earth. Located approximately 6 miles below the surface, this “superhot rock” layer contains a vast amount of untapped heat energy. "The core of the Earth is almost as hot as the Sun. If we could just tap 0.1% of the Earth’s heat, we could power the world for 2 million years," said Van Noy.
DeepPower previously announced that has entered into a sponsored research agreement with OU where DeepPower will provide $1.25 million of funding to Professor Salehi’s group for the development of superhot rock deep geothermal drilling technologies. DeepPower has the exclusive option to license any resulting technology from the project for commercialization and sublicensing.
Interim Dean of the Mewbourne College of Earth and Energy at the University of Oklahoma, John Antonio, was also in attendance. Dean Antonio touched on the University's interest in the project. “It’s not just a simulation study. It’s about building a real artifact to prove the concept.” Van Noy agreed, noting that, “It'll just be a matter of choosing where to tap the Earth's energy after the early proof-of-concept stages.”
For more information about DeepPower, Inc., please visit our website at https://www.deeppower.com/
About DeepPower, Inc.
Deep Power is developing a breakthrough drilling technology to access Earth’s unlimited source of green geothermal energy. The Earth’s molten core is as hot as the Sun and harnessing just 0.1% of that heat energy can power humanity for 2 million years. Previous generations of drilling technology cannot go deep enough to make geothermal cost effective. We are developing a suite of advanced low-cost, high-temperature and high-pressure drilling systems to boldly go where no humans have gone before. The deeper we go the more energy we can unleash. Unlike large area solar and wind farms, a 9-inch hole by 5 miles deep can produce the same amount of power as 320 acres of solar panels. Like a power plug into the Earth, we aim to provide every city, state, and country direct and independent access to this “holy grail” source of eternal green energy.
Forward-Looking Statements
This press release may contain “forward-looking statements.” Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as may be required under applicable law.
Press Contact:
1 (800) 347-0589
