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
Tax Systems Rebrands as Alphatax16.7.2026 11:00:00 EEST | Press release
Tax Systems, a global tax and accounting software provider, today announced it is rebranding as Alphatax, aligning the company with its flagship corporation tax compliance solution and marking the next stage in its evolution as an AI-first technology business. The rebrand reflects the company's ambition to redefine how tax professionals work through connected, AI-powered technology. As Alphatax, the business is bringing together compliance, data, governance and intelligence into a single platform, creating the foundations for the world’s first tax operating system: a connected environment where tax data, decisions, approvals, filings and evidence can come together. The new identity builds on the strong reputation of Alphatax, a market-leading corporation tax software trusted by tax professionals across the world. Bringing the company’s expanding portfolio together under one master brand will provide customers with a more connected experience across corporate tax, Pillar Two, transfer p
SWISSto12 Closes US$70 Million Series C to Meet Growing Multi-Orbit Demand16.7.2026 10:00:00 EEST | Press release
SWISSto12, a leading enabler of the new space economy, today announced the close of its $70 million (€61 million) Series C. This news follows the award of $84.8 million (€73 million) from European Space Agency (ESA) Member States to the HummingSat ARTES partnership project, through which ESA supports SWISSto12 in the development and in-orbit validation of HummingSat. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260716342732/en/ SWISSto12 will scale its manufacturing and integration capacity to meet accelerating demand from commercial and sovereign government customers. The Series C fundraise follows a period of sustained commercial growth for the company, with revenues of $140 million (€121 million) for 2025 and total contract values now exceeding $500 million (€432 million), driving positive EBITDA in 2026. To date, SWISSto12 has secured seven contracts for its HummingSat geostationary (GEO) small satellite with leading g
AMINA Becomes the First Regulated Bank to Integrate Leading Crypto Payments Network, Mesh16.7.2026 09:30:00 EEST | Press release
AMINA Bank AG (“AMINA”), a Swiss Financial Market Supervisory Authority (FINMA)-regulated crypto bank with global reach, today becomes the first regulated bank to integrate Mesh, the leading crypto payments network. The integration embeds Mesh’s verified deposit technology directly into AMINA’s online banking platform. This allows clients to verify wallet ownership, and deposit stablecoins and digital assets in a single, streamlined flow across more than 300 wallet providers. No more copying wallet addresses by hand, switching between external tools, or completing the multi-step verification the process historically required. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260715917516/en/ AMINA is the first regulated bank on Mesh. Myles Harrison, Chief Product Officer at AMINA, said: “Despite the incredible progress the industry has made in institutional adoption, crypto remains difficult to move safely and efficiently betwe
Garvan Institute of Medical Research Joins Parse Biosciences’ Certified Service Provider Network15.7.2026 23:00:00 EEST | Press release
Parse Biosciences, a QIAGEN company, and the leader in scalable and accessible single cell sequencing, today announced that the Genomics Platform Core Facility within the Garvan Institute of Medical Research has joined its Certified Service Provider (CSP) Program. The partnership broadens access to high-quality, scalable single cell sequencing across Australia, the wider Asia-Pacific region, and beyond. Garvan is one of Australia's preeminent medical research institutions, with the Genomics Platform having deep experience in cell sorting, capture, and sequencing. As a Certified Service Provider, Garvan will offer Parse's Evercode WT kits to researchers across the region. "We see a growing number of requests for Parse projects and find the technology easy to implement and run, generating great data," said Chris O'Keeffe, Cellular Genomics Lead at the Garvan Institute. "Garvan is one of the most respected biomedical research institutions in the world, and we're honored to welcome them to
Grafana Labs Named a Leader in 2026 Gartner® Magic Quadrant™ for Observability Platforms and Positioned Furthest in Completeness of Vision15.7.2026 21:21:00 EEST | Press release
Grafana Labs, the company behind the open observability cloud, today announced it has been named a Leader in the Gartner® Magic Quadrant™ for Observability Platforms for the third consecutive year, and positioned furthest on the Completeness of Vision axis for the second year running. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260715814984/en/ 2026 Gartner® Magic Quadrant™ for Observability Platforms We believe this placement reflects where the market is headed: toward open, composable observability that helps teams in the AI era understand systems that are increasingly complex and agentic, and rapidly scaling thanks to AI-assisted engineering. A Platform Built for the AI Era According to Grafana Labs’ 2026 Observability Survey, operational complexity and overhead are now the top observability challenge, even as adoption of managed observability continues to climb, with half of organizations now using managed observabili
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