On August 1st 2010 by Geothermal Anywhere, Ltd. started to implement a project entitled „Applied research and development of innovative drilling technology for ultra-deep geothermal wells" along with its partners, Institute of Materials & Machine Mechanics of Slovak Academy of Sciences, Comenius University in Bratislava and the Slovak Technical University in Bratislava. The goal of project is to create an innovative water jet generating system based on the use of electric-discharge plasma with increased pulse effect. The project consists of six main activities, and two supporting activities. The length of the applied research project is 36 months, what is the optimum time to achieve the set objectives.