ICE Thermal Harvesting Closes Initial Round of Funding for Geothermal Technology
03/15/2021 - 10:12 AM
HOUSTON , March 15, 2021 /PRNewswire/ -- ICE Thermal Harvesting, LLC ("ICE") announced today its formation and successful closing of an initial investment round led by Geneses Capital Management, LLC ("Geneses") which includes investments from Select Energy Services (NYSE: WTTR) and National Energy Services Reunited (NASDAQ: NESR). The new venture will provide zero-emission electric power to industrial consumers across multiple sectors. ICE will focus on producing electric power by harnessing geothermal energy. Utilizing a novel process developed by ICE engineers, the company will leverage the consistent and reliable energy provided by the earth's heat.
ICE is co-founded by Ben Bodishbaugh and Carrie Murtland , who both previously served in leadership roles with an industry-leading service provider where they were first movers in the industrial-scale electrification of that space. The team believes the trend of renewable energy growth will continue and gain momentum. "A growing number of corporations are committing to aggressive climate goals as a part of their journey to become more environmentally responsible. Our goal is to support companies in their journey by supplying zero-emission power to expedite the achievement of their carbon reduction targets" said Murtland.
Renewable energy investments make up a growing segment of Geneses' portfolio, according to partner Shauvik Kundagrami. "We are delighted to partner with a high-caliber management team led by our founders Ben and Carrie. Furthermore, we are extremely pleased to have Select Energy Services and NESR as strategic investors, with valuable market access in North America and the Middle East respectively." Geneses is a Houston -based firm focused primarily on opportunities across the energy, technology, and industrial landscape.
ICE Thermal Harvesting is based in The Woodlands, TX and focuses on supplying zero-emission power in various regions around the world. The company is founded as a partnership between like-minded individuals who view the global energy supply holistically. Their desire is to help piece together the energy mosaic that will provide for the society of the future.
http://www.prnewswire.com/news-releases/ice-thermal-harvesting-closes-initial-round-of-funding-for-geothermal-technology-301247378.html
SOURCE ICE Thermal Harvesting
Select Water Solutions Inc
WTTR Rankings
#3555 Ranked by Stock Gains
WTTR Stock Data
Industry
Support Activities for Oil and Gas Operations
Sector
Mining, Quarrying, and Oil and Gas Extraction
Tags
Industrial Services, Oilfield Services/Equipment, Mining, Quarrying, and Oil and Gas Extraction, Support Activities for Oil and Gas Operations
Country
US
City
Houston
About WTTR
it’s simple to us. every day is an opportunity for us to work hard, prove our experience, put safety first and maintain 100% client focus. after all, we believe that is the only way to operate successfully in the oil and gas industry. since 2007, when we began operations in gainesville, texas, we have done just that. today, select energy services is headquartered in houston, texas, and has grown to become a company with nearly 2,000 employees. we provide services to more than 400 customers in every major shale play throughout the united states. we deliver innovative and efficient end-to-end water solutions to oilfield operators. at select energy services, we pride ourselves in being a trusted partner that offers comprehensive approaches for more convenience and better results. finally, we at select energy services believe our true value lies within the hard work, proven experience, safety and customer-centric solutions we are able to bring to each and every project.
