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Google invests $10.25 million in geothermal technology

Google’s philanthropic arm, Google.org, is investing $10.25 million in two companies working on a new way to tap into the heat beneath the earth’s surface.

The companies are AltaRock Energy, which gets $6.25 million, and Porter Drilling, which gets $4 million. Additionally, the Geothermal Laboratory at Southern Methodist University, which is working on locating geothermal sources in North America, will receive a grant of about $490,000.

The money comes from Google’s RE C initiative, which seeks to develop renewable energy sources that are cheaper than electricity produced from coal.

Full article: csmonitor.com Posted by Picasa

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Google invests $10.25 million in geothermal technology - Wednesday, August 20, 2008 -

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