DEEP Earth Energy Production secures financing

DEEP Earth Energy Production Corp., a Saskatoon, Saskatchewan based geothermal power developer, has raised $##Subscribe today to see our research on this and all other subscriber ONLY items##.

DEEP’s goal is to be the first geothermal power producer in Saskatchewan.

DEEP’s target resource is a 3000 metre deep (Deadwood and Winnipeg Formations), hot aquifer – a 150 metre thick zone that has been drilled and temperature tested from oil and gas exploration activity in the area. Because this hot aquifer is part of the Williston Basin stratigraphy, it has huge lateral continuity which will enable repeatability and scalability for each project area with little geological risk. DEEP plans to drill into this deep aquifer, draw the hot water up though piping and use the heat to turn a turbine to produce electricity. This technology is currently being used all over the world with the USA leading with about ~3400 Megawatts of clean renewable geothermal energy production.

photo credit: falco via pixabay

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.