Geothermic Solution Joined International Community of Investors and Innovators at 6th Future Investment Initiative in Riyadh

BY Business Wire | ECONOMIC | 11/15/22 01:00 PM EST

Geothermic Solution met with individuals at the highest government and business levels during its visit to the Kingdom of Saudi Arabia, with discussions focused on the company?s GeoHeat energy-harvesting technology and its role in establishing a sustainable energy supply for the global economy.

PALO ALTO, Calif.--(BUSINESS WIRE)-- Geothermic Solution, Inc. (GSL), a leader in environmentally friendly GeoHeat? harvesting technology, participated in the 6th Future Investment Initiative (FII) in Riyadh, Saudi Arabia in October 2022. Dr. Khalid Alsweilem, GSL board member and former chief investment officer, chief counselor, and director general at the Saudi Arabian Monetary Agency (SAMA), guided GSL delegates during their visit to the Kingdom of Saudi Arabia (KSA).

The delegation was led by GSL?s co-founder and CEO, Dr. Piotr Moncarz, US NAE, who met with high-ranking members of the KSA government and with senior leadership of major corporations. Dr. Moncarz discussed how GSL?s reliable, low-risk, and low-carbon closed-loop geothermal technology is ideally suited to economically supply scalable, baseload renewable energy?in line with the KSA?s Vision 2030 and the net-zero goals of a growing number of global industries.

Dr. Axel-Pierre Bois, a member of the GSL technical team and renowned European expert in the region?s geothermal resources, outlined the challenges and opportunities of installing high-temperature GeoHeat harvesting technology in different regions of Saudi Arabia.

The 6th FII is powered by the Future Investment Initiative Institute, which is governed by an independent board of trustees that includes:

- H.E. Yasir Al-Rumayyan, FII Institute Chairman and Governor of the Public Investment Fund

- H.R.H. Princess Reema Bint Bandar Al Saud, Saudi Ambassador to the United States of America

- Professor Tony Chan, President of the King Abdullah University of Science and Technology

- Mr. Richard Attias, CEO of FII Institute and Executive Chairman of RA&A

In summarizing the visit, Dr. Moncarz said, ?The Kingdom of Saudi Arabia welcomed us beyond our expectations. The kingdom is making major strides to scaling up renewable energy sources that can deliver a carbon-free environment?and we at GSL are excited to be part of that discussion.

We discussed how our closed-loop GeoHeat solution is ideally suited to help the kingdom achieve its carbon-free ambitions?and with minimal water requirements,? Moncarz continued. ?By providing sustainable baseload energy for rapidly growing sectors like electric power, hydrogen, desalinization, data centers, and cooling, GSL can provide major value to the KSA, while delivering viable solutions to the climate struggle of the world.?

Geothermic Solution is contributing to high-profile, global technology and economic conferences at a time when the company is actively pursuing new investment partnerships and in-field project opportunities.

For more information visit https://www.geothermicsolution.com.

About GSL

Geothermic Solution, Inc. combines breakthrough technology from a wide range of scientific fields to harvest heat?cleanly and efficiently?from deep-earth, high-temperature formations around the globe. Our innovative GeoHeat? closed-loop, heat-harvesting technology provides reliable, cost-efficient geothermal energy to off-grid installations, while minimizing water usage and carbon emissions. Learn more about partnering with Geothermic Solution at https://www.geothermicsolution.com.

Source: Geothermic Solution, Inc.

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