ThermaSource, a Santa Rosa, Calif. provider of drilling, engineering and consulting services to the geothermal energy sector, has raised an undisclosed amount of cash from US Renewables Group, Riverstone Holdings and The Carlyle Group.
From the statement:
Funds will come from USRG and Carlyle/Riverstone Renewable Energy Infrastructure Fund (”CRREIF”) and be used to acquire new and reconditioned drilling rigs. US Renewables Group and Carlyle/Riverstone are making their investment through their affiliate GRR Holdco, LP, an owner of geothermal drilling rigs.
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VentureBeat » Cleantech roundup: Ethanol and solar suffer, wind and geothermal growing, and more said:
[...] Geothermal projects continue to gain momentum — Take a look at recent story about a new 150-home community near Toronto, which uses underground piping to help heat and cool homes, to get an idea of the growing enthusiasm for geothermal. Although it’s difficult to establish intellectual property based around underground heat sources, the current surge of consumer interest in green tech is providing enough capital to make geothermal startups worthwhile for startups anyway. We’ve written about two other startups separately, Altarock (our coverage) and Thermasource (our coverage). [...]