Chesapeake Energy
Canvas Category OEM : Petroleum and Coal
Headquartered in Oklahoma City, Chesapeake Energy Corporation is powered by dedicated and innovative employees who are focused on discovering and responsibly developing our leading positions in top U.S. oil and gas plays. With a goal to achieve net-zero direct GHG emissions by 2035, Chesapeake is committed to safely answering the call for affordable, reliable, lower carbon energy.
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Sage Geosystems Raises $17 Million in Series A, Announces World’s First Commercial Geopressured Geothermal System (GGS) Facility
Sage Geosystems announced the first close of $17 million in Series A funding led by Chesapeake Energy Corporation and joined by technology investor Arch Meredith, Helium-3 Ventures and with continued support from existing investors Virya, LLC, Nabors Industries Ltd., and Ignis Energy Inc. The proceeds will fully fund the first of its kind 3MW commercial Geopressured Geothermal System (GGS) facility, which will be built in Texas.
The 3MW commercial facility, called EarthStore™, will use Sage Geosystems’ innovative technology that harvests energy from pressurized water stored deep underground. The facility will be able to store energy for short and long duration periods and can be paired with intermittent renewable energy sources, including wind and solar, to provide baseload, dispatchable power, and inertia to the electric grid.