CORE knowledge is a podcast devoted to exploring the many facets and immense potential of an old, but newly revivied energy source; Geothermal. The aim is to engage the energy, policy making and the investment communities in order to spur innovation in the geothermal space and also bring awareness to the immense potential it has to be a baseload energy source for the future.
The geothermal landscape has evolved quite a lot in the last 5 years since I began recording episodes here on this show, we have seen billions in capital raised, successful pilots, full scale commercial projects constructed and lately a record breaking IPO. Zooming in, 5 years ago I sat down with then fairly new startup Sage Geosystems to talk about their unique EGS tech, plans for the future and what they hoped to accomplish. Fast forward to today, they have deployed their first grid connected commercial project, raised significant capital and put together a gigawatt pipeline they are actively working to bring to market. Sage Geosystems https://www.linkedin.com/company/sage-geosystems/posts/?feedView=all Cindy Taff https://www.linkedin.com/in/cindy-d-taff-53b77a57/ CORE Knowledge https://www.linkedin.com/company/core-geothermal Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
Factory built, deployed in modules, cost effective, flexible power generation systems for geothermal? That's right, Critical Energy is aiming to change the landscape for geothermal development timelines with their cutting edge, factory built, modular ORC turbines. Spencer Jackson, Founder and CEO, spent many years at SpaceX working with systems while much hotter, not that different and he thought to himself why not tackle heat recovery in a meaningful way. With their approach, the landscape for geothermal could be radically revitalized, lowering barriers to entry, lengthy time to markets, decreasing costs, supply chain bottlenecks, etc. ultimately unlocking more resource and capital faster. Spencer Jackson https://www.linkedin.com/in/spencer-j-jackson/ Critical Energy https://www.linkedin.com/company/critical-energy-systems/posts/?feedView=all Spencer's Book Recommendation Hitchhikers guide to the Galaxy CORE Knowledge https://www.linkedin.com/company/core-geothermal Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
Ever wanted a lower electrical bill during the summer or winter? Look no further than your friendly geothermal heat pump, that uses the ambient temperature of the Earth to heat or cool your home, office building, school, etc. It has often been overlooked in areas with hotter climates, regions where geothermal is primarily harvested for electricity or just for lack of knowledge behind the mechanics of deploying such a system. Well, in today's episode, I talk with Yale Carden of GeoExchange Australia, about the 20 years of developing, deploying, partnering and overall sharing of knowledge that he and team have done. GeoExchange Australia https://www.linkedin.com/company/geoexchange-australia/posts/?feedView=all Yale Carden https://www.linkedin.com/in/yalecarden/ CORE Knowledge https://www.linkedin.com/company/core-geothermal Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
The role that research centers play in any energy ecosystem are extremely vital. We have seen this play out in the Oil and Gas space, mining, environmental, and so on. Well, Geothermal is no different. The Cascade Institute is on a mission to unlock ultra-deep geothermal resources within Canada specifically with the hopes that it spurs traction globally. From funding models, policy support, to in field test sites where technology can be de-risked unlocking critical investment dollars, these institutes are a key piece to the energy ecosystem. This episode features Peter Massie, the Director of the Geothermal office at the Cascade Institute and we touch on many of these topics and more, so come have a listen. Cascade Institute https://www.linkedin.com/company/cascade-institute/posts/?feedView=all Peter Massie https://www.linkedin.com/in/peter-massie/ Peter's Book Recommendation How Solar Energy Became Cheap by Greg Nenet How Solar Energy Became Cheap: A Model for Low-Carbon Innovation: Nemet, Gregory F.: 9780367136598: Amazon.com: Books CORE Knowledge https://www.linkedin.com/company/core-geothermal Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
The Future of Geothermal. What is it and how does it play out? The recent report by the IEA with the aforementioned title "The Future of Geothermal" goes into detail on the past, present and future of geothermal, new technologies, startups, oil and gas crossover, and so much more. It is well worth a read, but in the meantime, I sat down with Heymi Bahar, a senior analyst with the IEA to talk about the report in detail, giving a view into what the future may indeed hold for this amazing resource - the heat beneath our feet. Heymi Bahar https://www.linkedin.com/in/heymi-bahar/ IEA https://www.linkedin.com/company/international-energy-agency/posts/?feedView=all Heymi's Book Recommendation The Perfectionist: Life and death in Haue cuisine by Stephen Chelminski Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/ CORE Knowledge https://www.linkedin.com/company/core-geothermal
The heat beneath your feet. We say it at the beginning of every episode, and we mean it. There exists an immense energy source everywhere you are beneath your feet. Our goal is to shed light on the amazing people and companies working to bring geothermal projects to life. This week, Croatia is the country, and ENNA Geo is the company taking charge, bringing forward geothermal projects with the aim of having 20-30 MW online in the next 5 years. Tune into my conversation with Ivana Ivancic and Boris Vidos to hear more about the challenges ahead, promising projects and more. ENNA Geo https://www.linkedin.com/company/ennagroup/ Ivana https://www.linkedin.com/in/ivana-ivancic-29385238/ Boris https://www.linkedin.com/in/boris-vidos/ Book Recommendations What I talk about when I talk about Running by Haruki Murakami and the Bible 12 rules for Life by Jordan Peterson CORE Knowledge https://www.linkedin.com/company/core-geothermal Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
Heating and cooling as an industry is one of the main offenders when it comes to emissions and accounts for a large pull on the energy sector as well. So, how do you solve the problem of decreasing energy demand while increasing resiliency and sustainability? Geothermal. The Earth has a stable temperature of around 55-70 degrees F depending on depth everywhere in the world and it can be tapped to be utilized for heating and cooling, both residential and commercial. I sit down with Ammar Alali, the CEO of Strataphy to talk about the huge opportunity that sits in front of the geothermal industry and how he and his team are looking to capitalize. Strataphy https://www.strataphy.com/ Ammar Alali https://www.linkedin.com/in/ammar-alali/ Ammar's Book Recommendation The Tipping Point by Malcolm Gladwell CORE Knowledge https://www.linkedin.com/company/core-geothermal Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
Innovation is at the heart of the energy industry and with geothermal it is no different. Sigurdur Markusson has been involved in a variety of projects that have dealt with harvesting geothermal energy and using it to sustainably produce food and now takes over the role of managing director at GEORG. It is time for collaboration, innovation, and awareness to accelerate for the geothermal industry. GEORG https://www.linkedin.com/company/georg-geothermal-research-cluster/about/ Sigurdur Markusson https://www.linkedin.com/in/sigurdur-h-markusson-8b979729/ CORE Knowledge https://www.linkedin.com/company/core-geothermal Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
The Earth's heat produced from radioactive decay in the core has many benefits once recovered and brought to the surface. Most focus is placed on its ability to provide baseload power, which is important, but arguably the most widespread use case being heating and cooling gets overlooked. Geothermal is ubiquitous throughout the planet, however, it does vary by location the feasibility of extracting the resource, but harvesting low temperature resources can be done most anywhere. Once harvested, the use cases are seemingly endless, heat and cool your home, office building, school, grow vegetables, process dairy, aquaculture, and so much more. I had the chance to sit down with Celia Wells who is the Strategic Developments Manager at GeoExchange NZ and talk about their goals, the size of the prize and what challenges lie ahead. GeoExchange NZ https://www.linkedin.com/company/geoexchange-new-zealand/posts/?feedView=all Celia Wells https://www.linkedin.com/in/celia-wells-74402291/ Celia's Book Recommendation Range by David Epstein CORE Knowledge https://www.linkedin.com/company/core-geothermal Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
Large scale energy infrastructure projects require significant up-front investment and usually carry a considerable amount of risk. How the projects are financed plays a key role in the success of the project and future scalability. Geothermal is no different than the Oil and Gas industry, solar, wind, hydrogen you name it - a lot of money will be needed but will need to be efficiently and effectively deployed to achieve the desired outcome for all stakeholders. I sit down with Amanda Lonsdale at Magnitude Global Finance to talk about the nuances in financing large scale projects, available instruments to mitigate risk, and hurdles still to overcome. Magnitude Global Finance https://www.linkedin.com/company/magnitude-global-finance/ Amanda Lonsdale https://www.linkedin.com/in/amanda-lonsdale-390749/ Amanda's Book Recommendation Creating Climate Wealth by Jigar Shah CORE Knowledge https://www.linkedin.com/company/core-geothermal Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
World Geothermal Energy Day 2024 - CORE Knowledge got to be a part by helping to raise awareness, be a voice and spread educational content around geothermal and what roles it can play in the energy ecosystem of today and tomorrow. I sit down with Jason Fisher from Blue Spark and Peter Duncan from Microseismic to cover a variety of topics from why they love geothermal to how it has changed the way we look at decarbonizing the globe. Blue Spark https://www.linkedin.com/company/bluesparkenergy/ Jason Fisher https://www.linkedin.com/in/geothermal-fisher/ Microseismic https://www.linkedin.com/company/microseismicinc/posts/?feedView=all Peter Duncan https://www.linkedin.com/in/petermduncan/ CORE Knowledge https://www.linkedin.com/company/core-geothermal Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/ Gallant https://www.linkedin.com/company/gallantculture/posts/?feedView=all
Today's episode brings a perspective from a company that gets to be a part of a myriad of geothermal projects all across the globe. Steam Geothermal, an owner's engineering consultancy specializes in simply coming in alongside the developer to fill gaps where their expertise is lacking on top of being a voice for the geothermal sector around the world. We sit down with William Thompson, Strategic Development Director at Steam about how he got lured into geothermal, helped with a complete rebrand and now how he is leading Steam's efforts in championing geothermal plus aiding in developing truly transformational projects. Steam Geothermal https://www.linkedin.com/company/steam-geothermal/posts/?feedView=all William Thompson https://www.linkedin.com/in/twilliamthompson/ William's Book recommendation Meditations by Marcus Aurelius CORE Knowledge https://www.linkedin.com/company/core-geothermal Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
Australia is no stranger to natural resources; they are a powerhouse in the mining and petroleum industry and now are a burgeoning developer in the renewable energy space. With energy security and sustainability top of mind for many in today's world, Australia is tackling this by exploring all potential solutions. One, however, may just hold the golden ticket for them once again to become a powerhouse - geothermal. Come, listen into my conversation with Adam Stepanoff of Whitebark Energy Ltd., a leader in the space, with some of the first and largest permitted areas for geothermal exploration and development to learn about some of the hurdles and opportunities the country faces. Adam Stepanoff https://www.linkedin.com/in/adam-stepanoff-70267265/ Whitebark Energy Ltd. https://www.linkedin.com/company/whitebark-energy-limited/posts/?feedView=all Adam's Book Recommendation The Courtneys of Africa by Wilbur Smith CORE Knowledge https://www.linkedin.com/company/core-geothermal/?viewAsMember=true Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
When designing and developing a project, it is important to consider the full generation life cycle in order to incorporate efficiencies, cost savings, safety measures, inclusivity, and so much more. In the case of geothermal, it allows for innovative thinking around how to incorporate a mindset of circular economy benefits and engaging with the local community to ensure mutual benefit. I had the pleasure of sitting down with Greg Thompson, the acting CEO at the time of the interview at MB Century and the Director of International BD, Robert Mandjes to discuss the rich history of MB Century and how they are innovating and continuing to lead in the design and development of various energy projects across New Zealand. MB Century https://www.mbcentury.com/ Robert Mandjes https://www.linkedin.com/in/robertmandjes/ Greg Thompson https://www.linkedin.com/in/greg-thompson-5173831a/ CORE Knowledge https://www.linkedin.com/company/core-geothermal Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
Often times in the midst of forging a new path, discovering a new breakthrough technology, or simply applying a new technique or theory it is hard to think about what the future might hold. In this case, Devon Energy was pioneering the deployment of fiberoptic cables permanently downhole to help analyze many facets of their operations and now in the heat of the energy transition, they have teamed up with a leading geothermal energy developer, Fervo Energy to yet again forge a new path. Come join the riveting coversation with Kyle Haustveit, Manager of Devon Energy Ventures as we discuss how the past is helping lead the way for the future and how Devon is playing a role. Kyle Haustveit https://www.linkedin.com/in/kyle-haustveit/ Devon Energy https://www.devonenergy.com/ Kyle's Book recommendation The War below and Elon Musk by Walter Issacson CORE Knowledge https://www.linkedin.com/company/core-geothermal Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
Always been interested in learning more about the circular economy? How does geothermal fit in? Can we create a truly self-sustaining ecosystem? Come listen in to my conversation with Helga Johannsdottir, Manager of Business Development at ON Power Iceland where we talk about their geothermal park and how they are creating a circular economy. Their model is not isolated to just Iceland and their hope as well as mine is that they can be an example for many others to create something similar. Helga Johannsdottir https://www.linkedin.com/in/hkjohannsdottir/ ON Power https://www.on.is/ Helga's Book Recommendation The Power of Habit by Charles Duhigg CORE Knowledge https://www.linkedin.com/company/core-geothermal/?viewAsMember=true Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
Curious to learn more about Exergy and their innovative ORC design? Well, first listen to this great episode where we delve into just that, but also go and check out their website or reach out to either Luca! Exergy ORC https://www.exergy-orc.com/ Luca Pozzoni https://www.linkedin.com/in/luca-pozzoni-63739316/ Luca Vanini https://www.linkedin.com/in/vaniniluca/ CORE Knowledge https://www.linkedin.com/company/core-geothermal Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
There will always be the doubters who say that something is impossible and will never be achieved or realized. To people like Steve and John of Hephae Energy, it is music to their ears, a challenge accepted to go beyond where anyone has before. That is what they are doing for the geothermal industry in developing rotary steerable and MWD tools that can operate precisely downhole at temperatures well above 175 degrees C. Hephae Energy https://www.hephaeet.com/ Steve Krase https://www.linkedin.com/in/stevekrase/ CORE Knowledge https://www.linkedin.com/company/core-geothermal/?viewAsMember=true Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
Iceland Drilling has been drilling geothermal wells for many years now, and is even taking their skillset and knowledge abroad to help in accessing this immense resource of heat beneath our feet. This episode talks all about the past, present, and future of the geothermal industry, Iceland Drilling and its role in that, as well as how we can look to continually advance and learn. Iceland Drilling https://www.jardboranir.is/ Sveinn Hannesson https://www.linkedin.com/in/sveinn-hannesson-604b184/ Daniel Drader https://www.linkedin.com/in/daniel-d-01730b44/ CORE Knowledge https://www.linkedin.com/company/75072170/admin/feed/posts/ Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
Cross pollination within the energy sector is a must in order to achieve the global targets we have set out for ourselves. As energy demand rises rapidly, the need to decarbonize increases in importance, I believe the energy sector will actually shrink. Not in production or employees, but in how many once siloed companies and industries cross over into new territory. Join me as I talk with the one, the only Patrick Hanson, Senior Geothermal Development Manager with Expro about this very thing and how he is excited to be part of this future energy ecosystem. Expro https://www.expro.com/region/locations/corporate-hq-1 Patrick Hanson https://www.linkedin.com/in/phanson610/ Patrick's book recommendation The subtle art of not giving an F$%! CORE Knowledge https://www.linkedin.com/company/75072170/admin/feed/posts/ Nick Cestari https://www.linkedin.com/in/nick-cestari-48059268/
