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
Sharjah Advocates More Dominant Role for Women in Technology under 2050 Roadmap24.9.2026 19:38:00 EEST | Press release
As artificial intelligence reshapes global economies, the UAE is placing women at the heart of its global ambitions positioning them not only as participants, but as key contributors to the AI future. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260924186173/en/ Women leaders and technology experts during a session at the Women in Technology 2026 Forum in Sharjah (Photo: AETOSWire) The message was echoed by Her Highness Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Research, Technology and Innovation Park (SPARK), who urged women to move beyond participation in technology to playing a leading role in shaping the future. Addressing the seventh edition of the Women in Technology 2026 Forum, hosted by SPARK on the theme “The 2050 Mindset,” HH Sheikha Bodour said: “2050 may seem far away, but it is being shaped by the decisions we make, the research we fund and the technologies we develop today. Women must t
MultiBank Group Founder and Chairman Naser Taher Named Financial Leader of the Year at Gulf Business Awards 202624.9.2026 18:39:00 EEST | Press release
Naser Taher, Founder and Chairman of MultiBank Group, one of the world’s largest financial derivatives institutions, was named Financial Leader of the Year at the Gulf Business Awards 2026. Presented during a ceremony held on 23 September at The Ritz-Carlton JBR, Dubai, the award was part of the Editor’s Choice category. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260924454616/en/ Naser Taher, Founder and Chairman of MultiBank Group, one of the world’s largest financial derivatives institutions, was named Financial Leader of the Year at the Gulf Business Awards 2026 The recognition comes after Taher lead the expansion of MultiBank Group for more than two decades, from its founding in 2005 to a financial institution serving more than four million clients across 100 countries today. Under his leadership, the Group has built a presence under more than 18 financial regulators across five continents and recorded daily trading
Multiple Industry Honors Reinforce CSG/Netcracker Leadership in Customer Journey Orchestration and AI Innovation24.9.2026 18:05:00 EEST | Press release
The next phase of customer experience hinges on how well brands turn customer data into relevant communications, real-time action, and responsible, proven AI use. CSG® and Netcracker Technology today announced that CSG has been named a Leader in The Forrester Wave™: Customer Journey Orchestration Platforms, Q3 2026, with the highest possible scores in 19 of 23 Forrester Wave™ criteria. CSG Xponent, a best-in-class customer engagement platform, helps brands land timelier, more relevant communications that drive customer action, secure loyalty, and bolster measurable business results. The Forrester Wave™: Customer Journey Orchestration Platforms states that, “CSG earns superior scores across the core journey intelligence and orchestration capabilities that define this market. Its excellent journey simulation, predictive intelligence, and decisioning capabilities help organizations evaluate likely outcomes before introducing changes into live journeys, improving decision confidence and re
Vasion Ⓡ Enhances Global Partner Program to Accelerate AI-Powered Automation24.9.2026 17:05:00 EEST | Press release
VasionⓇ, the Intelligent Print Automation platform trusted by more than 14,000 organizations worldwide, today unveiled a comprehensive refresh of its Global Partner Program. The program delivers the resources partners expect from Vasion: always-on incentives, structured onboarding, elevated enablement, and a rebuilt portal experience, all engineered to help partners scale, compete, and deliver stronger customer outcomes as agentic AI reshapes how enterprises automate work. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260924791639/en/ Agentic print and document workflow environments remain an overlooked channel opportunity, as enterprises race toward agentic automation. IDC forecasts that by 2026, 40% of all Global 2000 job roles will involve working with AI agents, redefining long-held traditional entry-level, mid-level, and senior-level positions [1]. IDC's research points to this new class of AI reshaping not just how fa
The Only AI Crypto Lead Prioritization Solution Built With Law Enforcement, for Law Enforcement: Elliptic Launches Pulse24.9.2026 16:15:00 EEST | Press release
Elliptic, the global leader in on-chain risk, today launched Pulse. Pulse puts crypto lead prioritization directly in the hands of every frontline law enforcement and government officer. Crypto now touches every part of law enforcement, from the patrol officer on the street to the detective assigned to investigate the case. Pulse gives each of them a quick, accurate financial summary and a starting point: whether that's a crypto address on a suspect's phone, in a scam ATM victim's receipt, uncovered during a vehicle or pocket search, or found at the scene of an overdose, an arrest, or a seizure. An officer can input anything that looks like a wallet address or transaction hash. Pulse identifies it, reasons over the result, and returns a summary in plain language, enough for the officer to decide on the spot whether the case needs escalation. If a case needs further investigation, one click sends the full analysis forward, not just the evidence. The criminal investigations division gets
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