HOUSTON, October 25, 2022 (Newswire.com) - CRITERION ENERGY PARTNERS, INC. today announced the formation of its Industry Advisory Group (IAG). The group was established to advance the company's goal to effectively commercialize geothermal energy projects by implementing methods that will drive down project costs and shorten project execution timelines. The group will meet regularly to aid in the company's mission to take geothermal energy projects everywhere. The initial group represents a consortium of specialists in drilling and completions and subsurface experts who will aid in Criterion Energy Partners' demonstration project.
The current membership list includes the following companies:
B&L Pipeco, ClearWell Dynamics, Electratherm, FerVID Group, JRG Energy, NCS Multistage, National Oilwell Varco, New Tech Global, Petrolern, Parker Wellbore, Patterson-UTI, QuantumPro Inc., STEP Energy Services, The University of Oklahoma Mewbourne School of Petroleum and Geological Engineering, Viking Engineering, Weatherford, and Welltec.
Criterion Energy Partners plans to expand this group to include other experts in the geothermal energy development work stream, including specialists in Engineering, Procurement, and Construction (EPC) and turbomachinery. This group of industry experts joins other strategic alliances, including recent investments from Chesapeake Energy Corporation and Patterson-UTI.
Criterion Energy Partners' IAG, its strategic investors, and the recently announced 10,000-acre lease acquisition, which is located in proximity to the Department of Energy's Pleasant Bayou project, are key steps in commercializing geothermal in the Texas Gulf Coast and beyond. The company's project pipeline combined with its strategic industry relationships solidify the prospect of generating utility-scale geothermal energy through the deployment of its proprietary Criterion Geothermal SystemTM and Industrial DirectConnectTM technologies.
About Criterion Energy Partners
Criterion Energy Partners is a next-generation energy and technology company focused on developing and operating distributed energy projects. The Criterion Geothermal SystemTM is designed to be co-located with consumers of direct heat and power, enabling hard-to-abate sectors to reduce emissions and improve operating efficiency using heat from the Earth. The company's mission is to create a more sustainable future by making geothermal energy projects commercially viable everywhere. Key to its strategic advantage is Criterion Energy Partners' team of managers, associates, and advisors with extensive experience in Business Development, Finance, Legal, Drilling & Completions, Subsurface Engineering, Geology, Geophysics and Data Science. Criterion Energy Partners touts value creation through its business model and tangible measurements, including (i) emissions reductions, (ii) power reliability, (iii) long-term cost stability and (iv) weather resiliency.
Source: Criterion Energy Partners