MIAMI, FLORIDA, United States, 23rd Oct 2024 – GEIOS Technologies, a pioneer in enhanced nanotech geothermal energy, announces it has secured a 25-year Power Purchase Agreement (PPA) with Electricite du Laos (EDL) for a massive 600 MW geothermal project in Champassak, Lao PDR. This agreement, the largest of its kind in Southeast Asia, positions GEIOS at the forefront of the region's clean energy revolution.
Following a competitive evaluation, GEIOS was selected by EDL and the Lao Ministry of Energy and Mines to deliver reliable, renewable geothermal power, addressing the surging energy demands across Southeast Asia. The project will be implemented in phases, with an ambitious timeline of 150 MW operational by the end of 2026 and the next phase capacity coming online by 2028.
To facilitate the development of this ambitious project and future expansion across Southeast Asia, GEIOS has established a Special Purpose Vehicle (SPV) in Lao PDR called Lao Development Construction and Investment (LDCI). LDCI, a fully owned company of GEIOS Technologies, will serve as the platform for geothermal energy projects not only in Lao PDR but also in Thailand, Vietnam, and Cambodia. The creation of LDCI comes in alignment with government requirements to ensure local development and implementation of renewable energy solutions.
This PPA comes as Southeast Asian nations, particularly Lao PDR, seek to diversify their energy mix and reduce reliance on hydropower for exports to neighboring countries, including Malaysia, Singapore, Thailand, Cambodia, China, and Vietnam. The 25-year agreement guarantees a continuous supply of 24/7 carbon-free geothermal energy, providing a stable and cost-effective power solution crucial for Singapore's growing data center industry and overall economic development.
Mr. Vangsakoun Yingyong, CEO of EDL, stated, “This partnership with GEIOS represents a pivotal moment in Laos' energy strategy. Their EQG technology offers the stable, clean power we need to meet our domestic needs and export commitments. This project will significantly enhance our ability to provide reliable energy to Singapore and other neighboring countries.”
Initial drilling by the government in Champassak has yielded exceptional results, with significantly faster drilling times and lower costs due to favorable geological conditions. These outcomes underscore the scalability and efficiency of GEIOS's proprietary Enhanced Quantum Geothermal (EQG) technology.
Shad AM SERROUNE, CEO of GEIOS Technologies, added, “This agreement with EDL is a testament to the scalability and reliability of our EQG technology. We're not just providing energy; we're driving a clean energy revolution that will reshape the future of power generation in Southeast Asia and globally.”
GEIOS's EQG technology uniquely combines quantum physics, nanotechnology, and metamaterials with advanced AI and real-time geochemistry analysis. This innovative approach delivers highly efficient, scalable, and reliable renewable energy systems, optimizing both energy production and reservoir management.
The technology employs a revolutionary multi-stage subsurface design that concentrates the majority of operations underground. This approach significantly reduces the above-ground footprint to mere meters, allowing for optimal energy extraction while minimizing environmental disruption. This feature not only enhances the project's efficiency but also leads to reduced costs and substantial savings.
About GEIOS Technologies: Founded in 2019, GEIOS Technologies is committed to accelerating the global transition to sustainable energy through innovative geothermal solutions. By leveraging cutting-edge nanotechnology and metamaterials, GEIOS delivers highly efficient, scalable, and reliable renewable energy systems, supporting clients worldwide in their pursuit of clean, responsible power generation.
About EDL: Electricite du Laos (EDL) is the national utility of Laos, responsible for power generation, transmission, and distribution. A leader in energy export, EDL supplies power to Thailand, Cambodia, China, and Vietnam. With this new geothermal project, EDL strengthens its position as a key player in Southeast Asia's evolving energy landscape.
For more information about this groundbreaking project and GEIOS's future plans, please contact:
Investor Relations: invest@geios.energy
Media Contact: media@geios.energy
Media Relations: Lee Hyung Soon
3401 N. MIAMI, AVE. STE 230,
33127 Miami - FLORIDA
USA
Media Contact
Organization: GEIOS TECHNOLOGIES
Contact Person: Sandra Lebiewicz
Website: https://www.geios.net
Email: Send Email
Contact Number: +12396036828
Address:3401 N. MIAMI, AVE. STE 230
Address 2: Building B34-2nd Floor
City: MIAMI
State: FLORIDA
Country:United States
Release id:18743
