In June 2011 Agency for Geothermal Power Engineering (AGEO) participated in the preparation of the project GEO-DH for European Commission´s (EC) funding scheme of the CIP-IEE (Competitiveness and Innovation Framework Programme - Intelligent Energy Europe). The project with the full title “Promote Geothermal District Heating Systems in Europe” was proposed by EGEC and other nine participants.

Geothermal Anywhere as a founder of AGEO is happy to announce that this interesting project has been positively evaluated by the EC. Once the negotiation will be concluded, the project will start for a period of 30 months. For more information about the project, please visit our Geothermania Blog.

Geothermal Anywhere successfully participated in the exhibition event Researchers' Night 2011 in Bratislava in AVION. We had a great opportunity to present to the general and professional public geothermal energy segment and our research and technology for deep drilling.

Among the visitors of our stand was also Minister of Education, Science, Research and Sport of the Slovak Republic Eugen Jurzyca, State Secretary Jaroslav Ivanco, Member of Parliament Dusan Caplovic and several key leaders of Slovakian Universities and Academy of Sciences. We hope that also this event has contributed to general awareness about geothermal energy strategic potential. For photos from the event click on our facebook site Geothermania.

During August the company Geothermal Anywhere approached a significant change in its structure and legal status. The owners of the company decided to transform it from Limited (Ltd.) to Joint-stock company on its General Assembly on August 20^th 2011.

The main reason for this change is an effort to operate more flexible with a strong focus on long-term goals. "I hope this would be another significant step on our way towards a competitive and breakthrough technology for deep drilling. Joint-stock company gives us flexibility in seeking cooperation models with different types of venture capital investors or strategic partners. Unfortunately, legislation and practical immaturity of the stock system in the Slovak Republic gives us lack of options known from the U.S., UK or Germany, so the next step may lead in this direction and into follow-up changes," says Igor Kočiš, CEO and new chairman of the Board. Cleantech companies such as Geothermal Anywhere, play an important role in the innovation chain. Their greater openness allows them to easier to attract new potential investors interested in investment in renewables.

One of the main advantages of current status of Geothermal Anywhere is larger number of application areas. Contactless technology of disintegration is interesting not only for investors focused on geothermal applications, but also for those from oil and gas, mining or waste management segments.

"This change offers us greater credibility towards current or new partners," adds Igor Kočiš. Another aspect of the transformation is the fact that capital has been significantly increased. New funding sources are an accelerator for technological research and may lead the company to the final stage of the development connected with the field testing. “We await new opportunities which were hidden after this horizon,” concludes Kočiš.