EarthBridge Energy’s CEO, Derek Adams, testifies in support of Texas Geothermal Bill
“Geothermal Day” at the Texas State Capitol
Derek Adams, CEO of EarthBridge Energy, testified this week before the Texas House Energy Resources Committee in support of key legislation encouraging geothermal development across Texas.
H.B. 1336, the so-called “Geothermal ownership clarification bill”, introduced by Rep. Drew Darby, would amend the Texas State Natural Resources Code to define ownership of geothermal energy below the surface of a landowner's land as real property instead of belonging to the mineral estate. Mr. Adams commented on the bill stating that, “Not only will this bill provide much needed certainty to landowners, surface estate owners, and mineral rights owners with respect to geothermal energy and energy storage in Texas, it also sets clear precedent and has broader positive implications on the growing Texas Geothermal industry.”
Testifying alongside EarthBridge was Barry Smitherman, Chairman of the Texas Geothermal Energy Alliance (TxGEA) and former Chairman of the Texas Railroad Commission, the regulatory body overseeing all oil and gas development in the state. Mr. Smitherman discussed how the bill would encourage baseload, dispatchable, renewable geothermal energy to help stabilize the state’s power grid.
Geothermal development can be done simultaneously without any interference to oil and gas development and can even offer synergies and benefits to both oil and gas operators and decarbonization operations like carbon capture sequestration and storage (CCUS) and green hydrogen.
You can read the bill text and track its progress here: https://legiscan.com/TX/text/HB1336/2023
ABOUT EARTHBRIDGE ENERGY
EarthBridge Energy, a Texas-based geothermal company, is enabling a smooth transition to renewable energy by developing a grid-scale energy storage technology. The GeoBattery™ uses a subsurface reservoir to safely store waste electricity from wind, solar, or the grid for when power is needed most. Development of this long duration storage technology furthers EarthBridge Energy’s mission of achieving a 100% renewable energy future. To explore more, please visit earthbridgeenergy.com.
