AltaRock Suspends DOE-Backed Project
Gregory T. Huang9/4/09
AltaRock Energy, a geothermal startup based in Sausalito, CA, and Seattle, announced earlier this week it has suspended drilling of a deep well in Northern California because of “geologic anomalies.” The well is part of a Department of Energy-funded demonstration project for AltaRock’s engineered geothermal system, which would create reservoirs of hot, subterranean water artificially. AltaRock said it is continuing to develop its technology and evaluating alternative well locations. AltaRock has raised about $30 million in venture funding from Vulcan Capital, Google, Khosla Ventures, Kleiner Perkins Caufield & Byers, and Advanced Technology Ventures. (See more coverage in the New York Times, PE Hub, CNET, TechFlash, and others.)
Gregory T. Huang is Xconomy's National IT Editor and the Editor of Xconomy Boston. You can e-mail him at gthuang@xconomy.com, call him at 617-252-7323, or follow him on Twitter at @gthuang.
