March 14, 2024 - Odessa, Texas
In a significant stride towards pioneering advancements in the energy industry decarbonization, the Permian Energy Development Laboratory (PEDL) and Teverra, a cutting-edge subsurface energy technology company, have joined forces in a groundbreaking partnership. This strategic alliance underscores a shared vision for fostering innovative energy solutions that not only benefit Permian communities but also propel the U.S. economy towards a sustainable future.
The collaboration between PEDL and Teverra comes hot on the heels of pivotal milestones achieved by both entities. Teverra's recent triumphs include securing a contract with the state of Colorado to conduct a comprehensive analysis of geothermal resources statewide and clinching a multi-year federal defense department contract to spearhead a geothermal initiative at Fort Wainwright in Alaska. Additionally, Teverra has garnered substantial recognition and support, amassing over $5 million in R&D and commercialization awards from esteemed institutions such as the Department of Energy (DOE) and the National Science Foundation (NSF) for its innovative subsurface energy technologies.
Meanwhile, PEDL has been fervently advancing its agenda, marked by notable collaborations with SOLARCYCLE and the Roosevelt Firm. These partnerships are geared towards establishing a cutting-edge test facility in Yoakum County, Texas, which will serve as a crucible for integrating diverse advanced energy technologies, including solar power, carbon net-negative oil production, carbon capture utilization and storage, low-carbon hydrogen production, treatment of produced water, and agrivoltaics. PEDL's ambitious endeavors have garnered acclaim, evidenced by its receipt of a $1 million National Science Foundation grant aimed at laying the groundwork for a transformative regional innovation engine in the Permian Basin.
"Teverra brings standout geothermal experience to the table—and that’s a big deal for our Permian consortium and for the U.S. advanced energy sector,” said Marilu Hastings of the Permian Energy Development Lab. “We’re grateful for their expertise. And I know they share our commitment to advanced energy R&D in service of Permian communities."
"The energy sector is at a critical moment—an exciting moment—because there’s greater attention and investment in a range of advanced energy technologies than ever before,” said Hamed Soroush, Founder and CEO of Teverra. “We see our partnership with the Permian Energy Development Lab as an important step to the future of energy—an advanced, decarbonized energy economy.”
The collaborative efforts between PEDL and Teverra will primarily focus on pioneering projects in key areas, including subsurface energy storage design and development, geothermal resource assessment and development, CCS, and hydrogen storage. Leveraging PEDL's extensive network of researchers and Teverra's proven track record in subsurface technologies, the partnership aspires to drive impactful innovations in the energy landscape. Key highlights of the partnership entail active collaboration in project identification and execution, concerted efforts to secure grant and funding opportunities, and the promotion of knowledge exchange and best practices to bolster organizational capabilities.
Permian Energy Development Lab and Teverra Announce Advanced Energy Partnership — Permian Energy Development Lab (pedl.tech)
Comments