Advanced plasma-based technology “PLASMABIT®” has been recognized by the Solar Impulse Foundation as a possible game-changer that combines incremental environmental benefit and profitability.
GA Drilling, a technological startup company from Slovakia, was attributed the “Solar Impulse Efficient Solution” Label following an assessment performed by external independent experts and based on verified standards. It is thereby joining the #1000solutions challenge, an initiative by the Solar Impulse Foundation to select solutions that meet high profitability and sustainability standards and present them to decision-makers to fast-track their implementation.
“We are honoured and thrilled to receive this prestigious designation from the Solar Impulse Foundation, “said Igor Kocis, CEO and co-founder of GA Drilling. “Our unique intelligent drilling platform PLASMABIT® that has the potential to unlock deep geothermal energy on a global scale was validated after the several months-long assessment process. Initiatives such as Solar Impulse’s #1000solutions are helping innovative ideas that will change the world, and we are grateful to be recognized as a part of the solution.”
PLASMABIT® drill bit developed by GA Drilling meets all criteria defined by the Solar Impulse Fund. It offers the opportunity to tap cheap, clean energy on demand anywhere and delivers incremental environmental benefits. The adoption of this game-changing innovative solution will be profitable for state economics, energy providers as well as consumers.
To receive the “Solar Impulse Efficient Solution” Label, PLASMABIT® Technology by GA Drilling was assessed by independent experts. The technology passed five criteria that are based on verified standards and are covering the three main topics of Technology Feasibility, Environment, and Profitability. All labelled solutions are part of the #1000solutions portfolio that will be presented to decision-makers in business and government by Bertrand Piccard, Chairman of the Solar Impulse Foundation. This initiative aims to encourage the adoption of more ambitious environmental targets and fast-track these solutions on a large scale.
As the only true 24/7 base-load renewable energy source, geothermal energy is an essential answer to the current global de-carbonization challenge. The exploitation of ultra-deep geothermal energy can unlock not only unlimited power but also be very financially attractive. The reason is that water of 300+°C in depths contains five times as much energy as water at 200°C in a shallower geothermal well. A major obstacle to deeper drilling has been the exponential cost of drilling beyond five kilometres, making the project unattractive since the consumer price of the power will no longer be competitive with other resources. GA Drilling has developed its patented plasma-based technology for faster and thus more cost-effective drilling through hard rock to access deep and ultra-deep geothermal energy.
GA Drilling is now ready to deploy its PLASMABIT® drill bit in its first commercial pilot program. The projects are planned in a staircase program, increasing gradually its depth and temperature parameters and delivering a solid IRR.
About GA Drilling
GA Drilling – the “GA” stands for “Geothermal Anywhere” – has invented, patented, built, and extensively tested a unique new drill to unlock the limitless energy potential of ultra-deep geothermal. The PLASMABIT drill will penetrate through deep, hard rock layers much faster and more economically than conventional drill bits and make deep geothermal projects feasible right from the start.
About the “Solar Impulse Efficient Solution” Label
One of the first labels for positive impact businesses bringing together the protection of the environment and financial viability, the “Solar Impulse Efficient Solution” Label is attributed following an assessment performed by external independent experts. In collaboration with renowned institutions, solutions applying for the label must go through a neutral methodology based on verified standards. This label serves as an award for clean and profitable solutions.
About the Solar Impulse Foundation
The Solar Impulse Foundation is dedicated to accelerating the implementation of clean and profitable solutions. Moreover, the Foundation is helping decision-makers in businesses and governments to achieve their environmental targets and adopt more ambitious energy policies, which are necessary to pull these solutions to market. A way to carry the success of the first solar-powered flight around the world further.