Geothermic Solution Joined International Community of Investors and Innovators at 6th Future Investment Initiative in Riyadh
November 15 2022 - 1:00PM
Business Wire
Geothermic Solution met with individuals at the highest
government and business levels during its visit to the Kingdom of
Saudi Arabia, with discussions focused on the company’s GeoHeat
energy-harvesting technology and its role in establishing a
sustainable energy supply for the global economy.
Geothermic Solution, Inc. (GSL), a leader in environmentally
friendly GeoHeat™ harvesting technology, participated in the 6th
Future Investment Initiative (FII) in Riyadh, Saudi Arabia in
October 2022. Dr. Khalid Alsweilem, GSL board member and former
chief investment officer, chief counselor, and director general at
the Saudi Arabian Monetary Agency (SAMA), guided GSL delegates
during their visit to the Kingdom of Saudi Arabia (KSA).
The delegation was led by GSL’s co-founder and CEO, Dr. Piotr
Moncarz, US NAE, who met with high-ranking members of the KSA
government and with senior leadership of major corporations. Dr.
Moncarz discussed how GSL’s reliable, low-risk, and low-carbon
closed-loop geothermal technology is ideally suited to economically
supply scalable, baseload renewable energy—in line with the KSA’s
Vision 2030 and the net-zero goals of a growing number of global
industries.
Dr. Axel-Pierre Bois, a member of the GSL technical team and
renowned European expert in the region’s geothermal resources,
outlined the challenges and opportunities of installing
high-temperature GeoHeat harvesting technology in different regions
of Saudi Arabia.
The 6th FII is powered by the Future Investment Initiative
Institute, which is governed by an independent board of trustees
that includes:
- H.E. Yasir Al-Rumayyan, FII Institute Chairman and Governor of
the Public Investment Fund
- H.R.H. Princess Reema Bint Bandar Al Saud, Saudi Ambassador to
the United States of America
- Professor Tony Chan, President of the King Abdullah University
of Science and Technology
- Mr. Richard Attias, CEO of FII Institute and Executive
Chairman of RA&A
In summarizing the visit, Dr. Moncarz said, “The Kingdom of
Saudi Arabia welcomed us beyond our expectations. The kingdom is
making major strides to scaling up renewable energy sources that
can deliver a carbon-free environment—and we at GSL are excited to
be part of that discussion.
We discussed how our closed-loop GeoHeat solution is ideally
suited to help the kingdom achieve its carbon-free ambitions—and
with minimal water requirements,” Moncarz continued. “By providing
sustainable baseload energy for rapidly growing sectors like
electric power, hydrogen, desalinization, data centers, and
cooling, GSL can provide major value to the KSA, while delivering
viable solutions to the climate struggle of the world.”
Geothermic Solution is contributing to high-profile, global
technology and economic conferences at a time when the company is
actively pursuing new investment partnerships and in-field project
opportunities.
For more information visit
https://www.geothermicsolution.com.
About GSL
Geothermic Solution, Inc. combines breakthrough technology from
a wide range of scientific fields to harvest heat—cleanly and
efficiently—from deep-earth, high-temperature formations around the
globe. Our innovative GeoHeat™ closed-loop, heat-harvesting
technology provides reliable, cost-efficient geothermal energy to
off-grid installations, while minimizing water usage and carbon
emissions. Learn more about partnering with Geothermic Solution at
https://www.geothermicsolution.com.
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Ted Moon, PhD LaunchPad Writing + Research, LLC
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