Friday, October 21, 2016

Australia: Geodynamics to Lose Geo Tag

Geodynamics changes focus to solar, storage and hybrid energy (RenewEconomy)

ASX-listed Australian geothermal hopeful Geodynamics has announced plans to change its name and principal focus and turn its attention to solar PV, battery storage and hybrid energy systems.

The company became famous for its efforts to generate energy from South Australian geothermal “deeps” – and even though the efforts were successful, they could not be done at a cost that could compete on the market.

It will now be known as ReNu Energy, and its new focus comes less than two months after the company closed and remediated the sites of several geothermal test wells and generation plants in South Australia’s Cooper Basin, after deciding they were not financially viable.

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