Recharge News reports that Australian geothermal energy technology company Wasabi has taken a stake in a German geothermal power project - Australia's Wasabi to join German 4.5MW geothermal venture.
Australia’s Wasabi Energy will co-develop and supply geothermal technology to a 4.5MW project near Taufkirchen, southern Germany.
The project will use the Melbourne-based cleantech developer's Kalina Cycle technology, which it claims is 40% more efficient than competing geothermal systems, particularly in low-temperature geothermal projects. Wasabi will develop the project in a consortium with Swiss utility Axpo and Geysir Europe, a German geothermal group.
The Australian company says it will receive a stake of up to 15% in the Taufkirchen project by providing technology and related services after the first geothermal production well has been drilled and the viability of the resource confirmed.