LOS ANGELES, Aug 19 (Reuters) - Google Inc (GOOG.O: Quote, Profile, Research, Stock Buzz) on Tuesday said it would invest more than $10 million in a breakthrough geothermal energy technology.
Google's philanthropic arm, Google.org, said the investment would go toward so-called Enhanced Geothermal Systems. The technology circulates water through hot rocks in the ground, producing steam to power a turbine.
Conventional geothermal technology relies on finding naturally occurring pockets of steam and hot water in the ground.
Google's investment includes $6.25 million for AltaRock Energy Inc, $4 million for Potter Drilling Inc, and a $489,521 grant for Southern Methodist University's Geothermal Lab. (Reporting by Nichola Groom, editing by Gerald E. McCormick)
Tuesday, August 19, 2008
Google invests $10 mln in geothermal technology
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