Transitional Energy is Denver, Colorado-based geothermal company focused on energy production from heat extracted via existing oil and gas infrastructure. In 2022, the company reported successfully producing geothermal energy from an oil and gas well at an oil field in Nevada.
While geothermal holds the highest percentage of continuous output of any renewable energy source on the market and is widely considered by experts as essential to transitioning the national energy grid to non-carbon sources, the commercial development of geothermal energy has routinely lagged behind its counterparts due to high exploration and drilling costs and lengthy permitting processes.
Gradient Geothermal seeks to overcome these legacy issues by utilizing existing sources of water, natural gas, and oil that are produced during fossil fuel extraction to streamline the process of geothermal production. This 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 Transitional Energy team, supported in part by a grant from the U.S. 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, and the merger with Gradient Geothermal is designed to accelerate the growth of other ongoing efforts across the country and around the globe.
“Meeting our world’s ambitious environmental sustainability targets cannot be achieved without investing in technologies that allow us to mine renewable energy from traditional energy infrastructure,” said Talal Debs, Founder and Managing Partner at XMC Strategies. “XMC always strives to best position the teams that will drive the next renewable energy revolution, and we are excited to match Transitional Energy’s technological prowess with our unique marketplace outlook to help unleash Gradient’s unlimited potential.”
“Gradient Geothermal brings the deep subsurface and facilities expertise of Transitional Energy and the resources of X Machina Sustainable Technologies into a shared, common vision of making geothermal in the oilfield a commercial reality,” added Benjamin Burke, CEO at Gradient Geothermal.
