Sage Geosystems Partners with NREL and Romania’s Electrocentrale Bucuresti (ELCEN) to Conduct Feasibility Study on Decarbonizing District Heating System in Bucharest
24.7.2024 09:00:00 EEST | Business Wire | Press release
Sage Geosystems Inc. (Sage), a geothermal and energy storage company, announced today that it will be partnering with Electrocentrale Bucuresti S.A. (ELCEN), Romania’s leading producer of thermal and electrical energy in Bucharest. This partnership will explore how geothermal energy can be implemented within the city of Bucharest to replace a fossil-fuel based thermal plant with a clean, reliable alternative energy source. The first project will generate up to 70MW thermal power for a district in Bucharest and upon its success will be expanded to other Romanian projects and cities.
Sage will rely on its field-proven Geopressured Geothermal System (GGS) technology, which maximizes the heat harvested and minimizes cost. A feasibility study will be performed in partnership with the National Renewable Energy Laboratory (NREL).
“Sage is thrilled to be supporting Romania’s transition to clean energy and to introduce geothermal energy applications to its capital city,” said Cindy Taff, CEO and co-founder of Sage Geosystems. Lev Ring, President and co-founder of Sage Geosystems, added “We are proud to be involved with NREL, the U.S. Department of Energy (DOE) and the Partnership for Transatlantic Energy and Climate Cooperation (P-TECC) and we are looking forward to the many partnerships and advancements we will develop in Europe as a result of this program.”
The general director of ELCEN, Claudiu Crețu, shared at the Profit Energy.forum in October 2023, that the company would be conducting studies to see if it can use the geothermal heat from underneath Bucharest for the centralized heating of the Capital.
ELCEN currently produces 40 percent of Romania’s and 90 percent of Bucharest’s thermal energy for district heating, and implementing a renewable energy source like geothermal would significantly reduce carbon emissions throughout the city and the country.
For more information, please visit www.sagegeosystems.com.
About Sage Geosystems Inc.
Sage Geosystems was founded in 2020 and is developing energy storage and geothermal baseload technologies deep in the earth. The Sage Geosystems team has over 150 combined years in the oil and gas industry, with experience delivering major projects including Deepwater, Arctic, and Unconventional shales. The company is headquartered in Houston, Texas. For more information, visit www.sagegeosystems.com.
About Electrocentrale Bucuresti S.A.
ELCEN is both an electricity producer and a heat energy producer. It is the largest thermal (heat) energy producer in Bucharest, Romania as well as nationwide. Founded in 2002, ELCEN is a subsidiary of Termoelectrica S.A.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240723000910/en/
Contacts
Brad Carl
brad@teamsilverline.com
(253) 318-6852
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
www.businesswire.com
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
IFF Reports Third Quarter 2026 Results3.11.2026 23:30:00 EET | Press release
IFF (NYSE: IFF) reported financial results for the third quarter ended September 30, 2026. Results are presented on a continuing operations basis, excluding the Food Ingredients business and other minor perimeter adjustments (the “Food Ingredients disposal group”), and the Soy Crush, Concentrates, and Lecithin businesses (the “SCL disposal group”). The Food Ingredients disposal group and the SCL disposal group are reported as discontinued operations. Management Commentary “IFF delivered a solid third quarter, with improved sales and profitability across all divisions,” said Erik Fyrwald, CEO of IFF. “Taste and Scent delivered strong top- and bottom-line results, and Health & Biosciences improved modestly as we continue to strengthen the business. We also generated strong cash flow through the first nine months of 2026 and recently completed our $500 million accelerated share repurchase program. The separation of Food Ingredients is progressing well, and we are on track with our timelin
2026–2027 World Branding Awards Honours Global “ Brand of the Year ” Winners at Hampton Court Palace3.11.2026 22:00:00 EET | Press release
The World Branding Awards returned to honour the brands that continue to set the benchmark for excellence. The 2026–2027 World Branding Awards Ceremony took place at the iconic Hampton Court Palace, marking the 21st edition of the awards. Set within the grandeur of a historic venue, the prestigious event brought together guests from across the globe for a memorable celebration. The evening was hosted by the acclaimed BBC presenter, Hannah Gray, and was further enriched by a keynote presentation from renowned speaker Adrian Webster. Earning a World Branding Awards remains a highly distinguished achievement. Winners are determined through a rigorous evaluation process encompassing brand valuation, consumer market research, and public online voting. This year, over 105,000 consumers took part in the voting process, and more than 2,000 brands from 62 countries were nominated. Of these, less than 10 brands from each country were declared the “Brand of the Year” across the Global, Regional,
Gencom Acquires Rosewood London, Expanding Its Footprint With Its First Luxury Hotel Acquisition in Europe3.11.2026 20:05:00 EET | Press release
Gencom, a U.S.-based investment firm that owns and develops prized real estate around the world, announces the acquisition of Rosewood London, the landmark 308-key luxury hotel situated at 252 High Holborn in Central London. The acquisition strengthens Gencom’s global hospitality investment platform and expands its presence in Europe through its first luxury hotel asset in London. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261103137897/en/ Gencom, a U.S.-based investment firm that owns and develops prized real estate around the world, announces the acquisition of Rosewood London in Central London London is one of the world’s most supply-constrained hospitality markets, supported by year-round demand from both leisure and business travelers. The acquisition of Rosewood London reflects Gencom’s conviction in the market and serves as a strategic entry point into Europe. The transaction further enhances the firm’s assemblage
SGCA Honours Communication Excellence Across Asia, Europe and the Arab World3.11.2026 17:52:00 EET | Press release
His Highness Sheikh Dr Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Chairman of the Sharjah Media Council, honoured winners of the 13th Sharjah Government Communication Award (SGCA), organised by the Sharjah Government Media Bureau (SGMB). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261103972039/en/ SGCA honours communication excellence across Asia, Europe and the Arab world (Photo: AETOSWire) Winners represented China, India, Thailand, Ukraine and the Arab world. Some 433 entries from 31 countries across four continents passed initial screening. The award covered 23 categories across five sectors, including six partner awards. His Excellency Tariq Saeed Allay, Director General of SGMB, highlighted the award’s growth under the vision of His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, noting that it had attracted more than 9,500 entries over five year
BioLife to Showcase Oral Peptide Delivery Technology During London Life Sciences Week3.11.2026 17:03:00 EET | Press release
BioLife Products Limited today announced its participation in London Life Sciences Week, where it will highlight its patented oral peptide delivery technology and recent advances in its intellectual property portfolio. BioLife will present at the LSX Investival Showcase on Monday, November 16, 2026, from 3:15 to 3:30 p.m. GMT, at Old Billingsgate, London. The presentation will be led by Former US Ambassador James P. Cain, Strategic Advisor to the Chairman & Founder, alongside Ludivine Delattre, Business and Corporate Relations, and will highlight the scientific journey behind the technology and its potential applications. BioLife is focused on developing a novel approach to delivering peptide therapeutics orally. Built on over 35 years of pharmaceutical effervescence expertise and two decades of oral peptide research by founder and inventor Dr. Farid Bennis, the technology uses a dissolvable effervescent tablet to create a buffered solution that helps protect peptides during gastrointe
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom