New York, NY – March 14, 2024 – Gradient Geothermal (“Gradient” or “the Company”), a Denver, Colorado-based geothermal company focused on energy production derived from the heat extracted via existing oil and gas production infrastructure, chief executive officer Dr. Benjamin Burke served as a featured speaker at this week’s Wall Street Green Summit in New York City. The event, which was held at The Cornell Club in midtown Manhattan, was organized to highlight innovative opportunities throughout the energy sector that promote a more sustainable future.
During his remarks, Dr. Burke underscored geothermal’s outsized output levels as the primary reason it can help power a nationwide transition to renewable energy sources in a manner that meets the requirements of the modern electrical grid. Dr. Burke also highlighted the Company’s unique efforts to utilize existing sources of water, natural gas, and oil derived from ongoing fossil fuel extraction operations to streamline the process of geothermal production and overcome legacy issues that have historically prevented the widescale usage of this abundant – yet largely untapped – energy source.
“Identifying underutilized resources throughout the oil and gas sector is critical to determining if America can transition to a more sustainable future while satisfying the energy demands of our modern society,” said Dr. Benjamin Burke, Chief Executive Officer, Gradient Geothermal. “Geothermal energy is the unique, clean, and widely available resource that can be relied upon to get this job done, and our team strives to unlock its unlimited potential and meet the demands of a rapidly evolving sector through our forward-thinking commercial operations and ongoing efforts at an expanding number of job sites.”
Gradient Geothermal, supported in part by a grant from the US Department of Energy Geothermal Technologies Office, is already executing on this strategy at an inaugural site on the Blackburn Oil Field in Pine Valley, Nevada. The Company’s recent merger with XMC Strategies was designed to build off this progress and help accelerate the growth of other ongoing efforts across the country and throughout the global marketplace.
About Gradient Geothermal
Gradient Geothermal, a geothermal energy and technology developer based in Denver, Colorado, strives to help power the energy transition by harnessing electrical power for mass-distribution from existing oil and gas production infrastructure. Gradient’s unique operational model positions the company as the only scalable commercial operation in the sector that specializes in this innovative form of geothermal energy production.
The company is a subsidiary of XMC Strategies, an investment management firm that helps empower commercial entities that specialize in profitably transforming existing oil and gas assets into long-term, sustainable solutions. The XMC family of companies includes Zefiro Methane Corporation, a nationwide operation specializing in plugging orphaned and abandoned oil and gas wells and subsequently creating top-tier carbon offset opportunities, and X Machina Sustainable Technologies, which provides technology development and operational expertise to renewable energy organizations.
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