News
Jun 26, 2009Magma Debut Gains Steam
CanGEA member Magma Energy has attracted considerable investor interest to the Canadian geothermal sector since the recent announcement of its initial public offering. According to sources, the IPO could raise up to $100 Million of capital. CanGEA Executive Director, Alison Thompson is quoted in the article, describing the promising outlook for the geothermal energy industry. To access the full article, please click here.
Jun 25, 2009
Western GeoPower Welcomes New Directors
CanGEA member Western GeoPower Corp. has announced the election of Daryl S. Clark and Harry Knutson to the Board of Directors at the Company’s Annual General Meeting, held June 24, 2009. For a complete press release, please click here.
Jun 25, 2009
New Geothermal Leases in BC by 2009: BC Energy Minister
The British Columbia Minister for Energy, Mines and Petroleum Resources, Blair Lekstrom, has announced that the Provincial Government intends to hold a geothermal lease auction before the end of 2009. He cautions that the process must be done correctly from the beginning, and that his officials are still working to determine the total number of hectares that will be made available. One of the areas identified is Lakelse Lake, located near Terrace, BC where CanGEA is holding a workshop on geothermal energy this week. For the full article, please click here.
Jun 24, 2009
Western Geopower Exercises Warrants
CanGEA member Western Geopower announced that it has received $3,710,000 from the exercise of 26,500,000 share purchase warrants issued in January of this year. Kenneth MacLeod, CEO of Western Geopower says that the funds will facilitate the development of the WGP Unit 1 power plant in The Geysers, California. For the full news release, please click here.
Jun 22, 2009
Former CanGEA Member Offers Donation
Former CanGEA member WellDunn Consulting has gifted a $10,000 Alberta Innovation Voucher to CanGEA so they may continue their work in bringing geothermal power to Canada. Our sincere thanks to WellDunn for their generosity!
Jun 22, 2009
Wellington West Capital Markets Releases Geothermal Industry Update
CanGEA member Wellington West Capital Markets has recently released a geothermal industry update. You may read it by clicking here
Jun 17, 2009
CanGEA Member Magma Energy Prepares Public Offering
CanGEA Member Magma Energy has filed a preliminary prospectus for an initial public offering, taking the first step in becoming a publicly traded company. Magma is currently developing projects in 4 countries worldwide, and operates a 23 MW power plant in the state of Nevada. CanGEA director John McIlveen is quoted saying “The U.S. has announced so many attractive incentive programs, people are almost rushing to get in,” referring to the recent stimulus package offered to the American geothermal industry by the US Federal Government. Canadian based geothermal companies, such as Sierra Geothermal Power Corp. and Magma have indicated they will apply for US government money under this stimulus program. You may read the full article by clicking here.
Jun 10, 2009
Western GeoPower featured in ExecDigital Magazine
CanGEA Member Western GeoPower was recently profiled in ExecDigital magazine, an online, all digital publication dedicated to providing business leaders with pertinent, thought-provoking and meaningful material. You may read the ExecDigital article by clicking here (Page 70)
Jun 05, 2009
CanGEA Weekly FAQ #5 Posted
Check out CanGEA’s weekly FAQ #5, now posted.
What is an Enhanced Geothermal System?
Jun 02, 2009
Obama Administration Provides $350MM Boost for US Geothermal Energy Industry
Recently, the Obama administration has announced of $350 Million to support the growth of the geothermal industry in the United States. Some of the highlighted recipients of this funding include demonstration projects, EGS development, and research related to new geothermal exploration techniques. For a more complete description of this program, follow the link to the US Department of Energy announcement here.
CanGEA is working hard to secure a comparable commitment from Natural Resoruces Canada, but to date there has been no firm arrangement.
