Geodynamics Quarterly Activities Report
Geodynamics reports on the company's activities during the September 2013 quarter. Highlights include:
- The 1 MWe Habanero Pilot Plant Trial was successfully completed with no safety or environmental incidents. Prior to closure of trial, the plant was operating at 19 kg/s and 215°C production well-head temperature; the highest results ever achieved at the plant.
- In September, Geodynamics announced its intention to acquire 100% of geothermal energy company, KUTh Energy Limited, through a conditional off-market takeover offer. The proposed acquisition aligns with Geodynamics’ strategy to develop a portfolio of high quality small-medium scale conventional (“volcanic-hosted”) geothermal projects initially targeting the Pacific Islands region, capable of providing strong revenues to shareholders within a short timeframe.
- Former Chief Scientist, Dr Doone Wyborn, was awarded the Geothermal Resource Council Special Achievement Award.
