Yet another Australian company has signaled a retreat from developing geothermal energy. In a corporate update Greenearth Energy, based in Melbourne, Victoria, announced a shift in focus away from geothermal exploration.
The company "...has identified three near-term corporate objectives that are being undertaken to more clearly align Greenearth’s public positioning with its operating activities. These will also enhance internal governance and business structures with the aim of increasing shareholder value. With the evolution of the company’s focus from geothermal exploration and development to commercializing renewable and clean technologies..."