August 13, 2024 09:00 AM Eastern Daylight Time

HOUSTON--(BUSINESS WIRE)--Sage Geosystems Inc. (Sage), a geothermal baseload and energy storage company, announced today the location of its first-of-its-kind project, marking a significant advancement in sustainable geothermal energy. Sage has entered into a land use agreement with San Miguel Electric Cooperative Inc. (SMECI) for the 3MW Geopressured Geothermal System (GGS) energy storage facility. The 3MW EarthStore system will be in Christine, Texas near the SMECI lignite coal power plant. Sage will operate as a merchant, buying and selling electricity to the ERCOT grid.

Later this year, Sage will launch the EarthStore™ facility, the world's first project to utilize the earth's natural capacity for energy storage to produce clean, sustainable, and dispatchable electricity on demand. This technology offers a reliable and resilient power source that is independent of weather conditions and not reliant on wind or sunshine.

“Once operational, our EarthStore facility in Christine will be the first geothermal energy storage system to store potential energy deep in the earth and supply electrons to a power grid,” said Cindy Taff, CEO of Sage Geosystems. “Geothermal energy storage is a viable solution for long-duration storage and an alternative for short-duration lithium-ion batteries. Electric utilities and co-ops like SMECI, will be able to use our technology to complement wind and solar, and stabilize the grid.”

The facility will use Sage’s proprietary technology to store energy, targeting 6-to-10-hour storage durations and delivering a round-trip efficiency (RTE) of 70-75 percent. In addition, water losses are targeted to be less than 2 percent. At scale, this energy storage system will be paired with renewable energy to provide baseload and dispatchable power to the electric grid. When combined with solar power, Sage’s EarthStore facility enables 24/7 electricity generation at a blended Levelized Cost of Energy (LCOE) well under $0.10/kWh.

Craig Courter, CEO, San Miguel Electric Cooperative, Inc. added, “Long-duration energy storage is crucial for the ERCOT utility grid, especially with the increasing integration of intermittent wind and solar power generation. We are excited to be part of this innovative project that showcases the potential of geothermal energy storage.”

Sage will be applying for two drilling permits in Texas. The first permit is in Atascosa County for the EarthStore facility in Christine and the second permit is in Starr County, adjacent to the company’s existing test well.

For more information, please visit www.sagegeosystems.com.

About Sage Geosystems Inc.

Sage Geosystems Inc. (Sage) is a firm founded in 2020 with energy storage and geothermal baseload technologies deep in the earth. The Sage Geosystems team has over 150 combined years in the oil and gas industry, with experience delivering major projects including Deepwater, Arctic, and Unconventional shales. The company is headquartered in Houston, Texas. For more information, visit www.sagegeosystems.com.

About San Miguel Electric Cooperative, Inc.

San Miguel Electric Cooperative, Inc. is a member-owned power generation and transmission cooperative that serves the people of South Texas' rural communities, working and living in partnership with its members. Through integrity, hard work and a commitment to safety, San Miguel Electric Cooperative maintains a dependable power supply at the lowest possible and competitive cost. Visit San Miguel Electric Cooperative for more information.

Contacts

Claire Underwood
claire@teamsilverline.com
540-494-7552