Geothermal Incorporated (KGI) has announced that they have entered into a joint development agreement with Shell Canada which took effect at the end of July.
The agreement will support KGI in their goal of using geothermal energy as an alternative energy source for industrial heating in the Terrace area.
KGI has been working with Calgary based Borealis GeoPower for the past decade on a multi-phase project called “Fuel for Reconciliation” emphasizing economic reconciliation for the Kitselas nation.
Geothermal energy is a renewable energy source that comes from within the earth, most people associate it with natural hot springs, though Borealis president Alison Thompson explained that it can be used to heat businesses, and even be turned into electricity.
Support from Shell will help to lower the overall risk of the project, which Thompson hopes will open the door to more investment opportunities.
Back in January, KGI also received support from the province, getting $500,000 in funding from the B.C.’s First Nations Clean Energy Business Fund.
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