LEHI, Utah, Nov. 15, 2022 (GLOBE NEWSWIRE) -- DeepPower, Inc. the developer of a breakthrough geothermal drilling technology to access the Earth’s unlimited source of clean energy, today announced that it recently closed its Series A investment round.
The Series A investment by a venture capital firm will be instrumental in executing on the Company’s business plan to develop a breakthrough geothermal drilling technology.
Andrew Van Noy, CEO of DeepPower, Inc. commented, “This investment is an indicator that DeepPower is in the right market, trying to solve the right problems, at the right time in history. As a Company, we are on a mission to develop technologies that will allow us to extract the critically needed energy created by earth’s core.”
Mr. Van Noy continued, “I am grateful that our VC partner believes in our vision and our team’s ability to execute on our mission. There is a lot of work ahead of us, but this is a major step in being able to deliver on our mission and vision of providing clean, reliable energy to communities around the globe.”
Current state-of-the-art drilling technology found in the oil and gas industry cannot drill deep enough to make geothermal cost effective at a global scale. DeepPower is developing a suite of breakthrough drilling technologies to boldly go where no humans have gone before. The deeper we go the more energy we can unleash.
For more information about DeepPower, Inc., please visit our website at 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
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