Sage Geosystems, Inc. (Sage) and California Resources Corporation (CRC) have signed a Memorandum of Understanding (MOU) to collaborate on commercial projects and joint funding opportunities in subsurface energy storage and geothermal power generation in California.
The partnership focuses on creating clean and reliable energy solutions to meet the growing demand for electricity, which is expected to double globally by 2050, not including the additional energy required for AI-enabled data centers. By combining their expertise, Sage and CRC aim to make significant advancements in subsurface energy storage and geothermal power technologies.
Francisco Leon, CRC’s President and CEO, emphasized the importance of the partnership, stating, “This MOU is a crucial step in our commitment to sustainable energy. By working with Sage, we aim to develop innovative technologies that support California’s clean energy goals.”
Cindy Taff, CEO of Sage Geosystems, highlighted CRC’s deep local connections and regulatory expertise in California, saying, “We’re thrilled to partner with CRC, whose presence in the state and relationships with agencies will be key to advancing our next-generation geothermal technology, which will enhance the resiliency and reliability of California’s power grid.”
