Geothermal has been overlooked as a key renewable energy source, says IGA and Seequent

AUCKLAND, New Zealand — (BUSINESS WIRE) — November 20, 2024 — Seequent, The Bentley Subsurface Company, today announced a strategic partnership with the International Geothermal Association (IGA) to boost geothermal energy’s role as a sustainable and reliable renewable energy source.

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Panel and moderator for the launch announcement of global partnership between Seequent and the International Geothermal Association. Left to right: Mike Allen, Vice President, New Zealand Geothermal Association; John O'Sullivan, Co-Director, Geothermal Institute at the University of Auckland, New Zealand; Marit Brommer, Executive Director, International Geothermal Association; Jeremy O'Brien, Energy Segment Director, Seequent; Jack Norbeck, Chief Technology Officer and Co-Founder, Fervo Energy

Geothermal draws energy from hot fluids travelling through the Earth's subsurface. These fluids are utilised to drive turbines producing electricity, directly to heat homes or in industrial processes. Traditionally, geothermal energy has been viewed as energy restricted to environments where it is visible - however new technological breakthroughs and the realities of needing 24/7 access to energy are changing the investment landscape.

The International Geothermal Association is the leading global platform on geothermal energy.

Marit Brommer, Chief Executive Officer, IGA, said: "Geothermal energy has been overlooked as a reliable and sustainable energy source. It is uniquely positioned to provide this, and partnerships like this are essential to accelerating its growth. We are excited to partner with Seequent, whose technological innovations in subsurface modelling bring clarity to geothermal development, empowering countries to leverage this clean energy resource and drive meaningful progress toward global net zero goals. We encourage other industry leaders and companies to join and amplify promotion of geothermal, as collaborative efforts are key to unlocking geothermal's full potential for a sustainable future."

Seequent software supports more than half of the world’s geothermal electricity production, bringing clarity to a complex unseen challenge of managing subsurface resources. The company has long been at the forefront of technical advancements in the industry, for example, bringing geothermal energy directly to heat homes in Paris and Munich.

Graham Grant, Chief Executive Officer, Seequent, said: “Seequent is honoured to partner with the International Geothermal Association for the next two years. We will work with global partners to build clear and consistent messaging for the industry, positioning geothermal as a vital contributor to the energy transition. We will also work together to promote best practice and partner on major events, including as a Diamond Sponsor in the digitalisation category for the 2026 World Geothermal Congress.”

Seequent’s latest innovations include adding new physics capabilities to its software to trace fluids more accurately, ultimately leading to more efficient resource management and a more sustainable geothermal operation.

Graham Grant added: “An emerging use case for geothermal is the rise of hyperscale AI-enabled data centres which represent a rapidly emerging new form of power demand requiring reliable baseload, or consistent, power supply. Geothermal is the cleanest form of renewable energy able to provide this baseload power and should play a key role in future data centre strategy globally.”

Seequent customer Fervo Energy is applying oil and gas technology to find new ways to produce geothermal energy for Google’s data centres in the Nevada desert.

Jack Norbeck, Chief Technology Officer and Co-Founder, Fervo Energy, said: “Seequent’s partnership with the International Geothermal Association marks an important step in advancing the role of geothermal in the global energy transition. At Fervo, we’ve experienced firsthand how Seequent’s technologies enhance our ability to manage and optimise geothermal reservoirs. This collaboration promises to support the industry's growth, helping unlock geothermal’s potential to deliver sustainable, around-the-clock energy to meet the world’s growing demand for clean power.’

The latest UN Emissions Report found geothermal energy had the potential to mitigate more energy emissions by 2035 than carbon capture and storage, or bioenergy, or the reduction of methane emissions from coal mining.* The UN’s assessment did not include unique downstream benefits in horticulture and agriculture, or the potential opportunities related to technological advances in mineral extraction.

The Director General of the International Renewable Energy Agency (IRENA) has said geothermal energy production in Europe could grow eight-fold by 2050**, and the US Department of Energy predicts that similar advancements could drive a 26-fold increase. The US Department of Interior announced last month that it has begun unlocking permitting constraints on public lands.

ENDS

NOTES TO EDITORS

* p57, appendix, UN Emissions Report 2024 here.

** European geothermal capacity could grow eight-fold by 2050

About Seequent: Seequent, The Bentley Subsurface Company, helps organisations to understand the underground, giving them the confidence to make better decisions faster. Seequent builds world-leading technology that is at the forefront of Earth sciences, transforming the way our customers work. Every day we help them develop critical mineral resources more sustainably, design and build better infrastructure, source renewable energy, and reduce their impact on the environment. Seequent operates in 150 countries while proudly maintaining headquarters in New Zealand.

Newsroom: https://www.seequent.com/company/news-media/
Seequent on LinkedIn and X.

About the International Geothermal Association: The International Geothermal Association (IGA), is the leading global platform on geothermal energy, serving as a hub for networking opportunities aimed at promoting and supporting global geothermal development. With industry partners the IGA sets standards, mature the technology agenda and nurture entrepreneurs engaged in clean technology.

With its four pillars Visibility, Sustainability, Partnerships and Authority, the IGA is committed to push geothermal as a gamechanger for achieving Sustainable Development Goal #7 providing affordable, clean, baseload energy for all.

IGA on LinkedIn

© 2024 Bentley Systems, Incorporated. Bentley, Seequent and the Seequent logo are either registered or unregistered trademarks or service marks of Bentley Systems, Incorporated or one of its direct or indirect wholly owned subsidiaries.

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Seequent Press Contacts:
Liz Crawshaw liz.crawshaw@seequent.com (New Zealand)
Dina Zaid dina.zaid@seequent.com (North America)

IGA Press Contact:
Abigaelle Peterschmitt abigaelle@lovegeothermal.org