Premier Corex and Teverra announce the formation of a strategic alliance to provide rock and fluids testing combined with engineering and geoscience consulting for the geothermal energy industry.
As the market continues to expand to include geothermal energy, there is less specific data to support these new developments. Better understanding of the reservoirs to maximize their potential as well as the inherent risks within these projects is of paramount importance. Through the combination of Premier's world-class rock and fluids laboratories as well as extensive data library and Teverra's growing technology portfolio and expertise, asset developments can take a holistic approach that utilizes what used to be disparate data sources to create actionable intelligence.
As part of the strategic alliance, Premier Corex, a global leader in the aggregation, generation, and application of rock and fluid data, will use its high-tech laboratories to generate data required by Teverra, a leading-edge provider of low-carbon solutions for subsurface operations, to provide full-scale thermo-hydro-mechanical modeling and design for companies developing large-scale geothermal projects.
"Companies involved in the development of geothermal resources are looking to better understand the subsurface and evaluate the viability of large-scale geothermal projects to help meet the world's energy demands now and into the future," said Randal Wichuk, President and CEO of Premier Corex. "This strategic alliance will not only help these companies to evaluate the viability of geothermal projects by illuminating the subsurface, but it will also allow our clients to maximize the energy potential from these resources in the most cost-effective way. We are excited to partner with Teverra to be able to provide these services and further solidify our commitment to energy transition."
Dr. Hamed Soroush, Founder and CEO of Teverra, states: "This partnership is focused on providing more robust and impactful solutions for geothermal operators with the integration of high-quality data and value-added data-driven solutions. This is required for efficient and reliable development of geothermal resources and will be vital as we scale this baseload energy source. We are very excited about combining our decades of subsurface expertise and innovations with Premier Corex's extensive experience in rock and fluid data generation and integration in order to make geothermal profitable. Ultimately, we are putting the puzzle pieces together to create empowering intelligence to push the energy transition forward in a cost-effective and safer manner."