Friday, November 3, 2017

New Zealand: Share Offer Will Fund Development of Silica Extraction Plants for Geothermal Power Generator

Geo40 powers up for $25m market float (The West Australian)

The Western Australia-backed New Zealand company tapping geothermal power plants for silica is laying the pathway to a $25 million sharemarket float next year. Geo40, will publish an initial public offer by October.

The fresh cash, most of it sourced from sophisticated investors and family offices, will fund Geo40’s development of two commercial silica extraction plants for an as-yet unidentified but major power generator.

Geo40’s patented technology allows for the economic extraction of silica and other specialty minerals such as lithium and boron from the hot fluids harnessed by geothermal stations to produce electricity.

The extraction plants, which are erected in modular form, remove the silica from waste geothermal fluids that have been used for power generation. The fluids are pumped back into the underground reservoir through existing reinjection wells, or recycled first to generate further electricity.