Government of New Zealand to fund technologies for geothermal lithium extraction

Geo 40 will receive investment from the government to expand its production technologies Lithium Geothermal

The New Zealand government will invest 2 million NZD (approximately $ 1.35 million) in shares to expand production technology. Lithium From Geo40. The company is currently extracting silica Salt water Geothermal from the Ohaaki Field near Taupo.

Creating this Regional Strategic Joint Fund, RSPF) Announced by Stuart Nash, Minister of Economic and Regional Development. “Investment is RSPF’s first”, Nash said.

“It’s a game-changing program. If we can get Geo 40’s green technology on a commercial scale, New Zealand is an international leader in technology for sustainable distribution LithiumAnd contribute to sustainable action against climate change. “

“This will help New Zealand achieve its 2050 carbon neutral target and create jobs for economic recovery.

In 2019, Geo will receive NZD 15 million (approximately $ 10 million) under the Provincial Development Fund to start and build 40 new silica mines.

Very recentlyVenture capital firm Pacific Channel has invested NZ $ 7.5 million (approximately US $ 5.4 million) to help develop the initial technology for the Geo 40 extraction. Lithium From Salt water Geothermal

Message received: ThinkJioEnergy Free translation from English World Energy Trade

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