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Geothermal heating demand is surging in Europe undergoing an energy crisis

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Geothermal heating demand is surging in Europe undergoing an energy crisis

January 25
06:04 2023

Geothermal energy is a type of renewable energy that is derived from heat within the earth’s subsurface. This heat is transported to the surface through water or steam, and can be harnessed for a variety of purposes, including heating and cooling buildings, as well as generating electricity. However, it should be noted that electricity generation using geothermal energy is typically only viable in areas near active geothermal regions. Several countries, such as Iceland, El Salvador, New Zealand, Kenya, and the Philippines, rely heavily on geothermal energy to meet their electricity and heating needs.

According to research from Rystad Energy, Europe is facing a growing demand for geothermal heating as it experiences an energy crisis. Governments are seeking cost-effective alternative energy sources to replace gas heating. The study predicts that the total installed capacity of geothermal heating will increase by 58% to reach 6.2 GWt in 2030, up from the current total of 3.9 GWt. This expansion is expected to cost around $7.4 billion. Although geothermal technology has been available for many years, it may be on the verge of widespread adoption. However, high development costs compared to other energy sources and potential risks such as drilling success rates and subsurface atmosphere have limited its use so far.

We would now like to draw your attention to Global Care Capital Inc. (CSE: HLTH), a global investment company which engages in early-stage investment opportunities in private and public companies. The company trades under the ticker symbol Global Care Capital Inc. (RSCZF) on the US exchange.

On December 19th, 2022, Global Care Capital Inc. (CSE: HLTH) announced that it has signed a Memorandum of Understanding (the “MOU“) with Titan Electricity Ltd. UK, (“Titan“) a company that holds the intellectual property rights to the “Geo-EnginesTM” a net zero geothermal energy generation technology used for gas cleaning (Sour Gas), CO2 sequestration and domestic energy supplies. Oil and Gas companies using Titan’s “Geo-EnginesTM” can potentially cut onsite CO2 emissions to zero, help improve energy security and break the reliance on coal and oil.

Pursuant to the terms of the MOU, the parties have agreed to complete due diligence in connection with advancing negotiations of a potential investment in Titan by the Company (the “Potential Transaction“). Closing of the Potential Transaction is subject to, among other things, completion of due diligence, negotiation of a definitive agreement, compliance with all applicable regulatory requirements and receipt of all necessary regulatory, corporate, third-party, board and shareholder approvals being obtained, including the approval of the Canadian Securities Exchange. There can be no assurance that the Proposed Transaction will be completed as proposed, or at all. The company is yet to issue any update this year but considering the geothermal space is heating up, this small cap stock speculative play could potentially do wonders for early watchers.

Global Care Capital Inc (RSCZF) is currently trading at $0.0038 and has a 52 week high of $0.04. Although speculative at this time, if RSCZF was to retest its 52-week high, traders could be looking at huge potential gains.

Watch the video below to know more about RSCZF

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Some of the other stocks in the geothermal space include Ormat Technologies, Inc. (NYSE:ORA), Eversource Energy (NYSE:ES), Chevron Corporation (NYSE:CVX), Berkshire Hathaway Inc. (NYSE:BRK-B), Polaris Renewable Energy Inc. (OTC:RAMPF), Climeon AB (publ) (STO:CLIME-B.ST).

Other active stocks on Wall Street include BioAffinity Technologies Inc (NASDAQ:BIAF), Baudax Bio Inc (NASDAQ:BXRX), Grom Social Enterprises Inc (NASDAQ:GROM)



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InvestorBrandMedia has been compensated twelve hundred dollars by a 3rd party for the content, research, dissemination, and syndication pertaining to RSCZF for a period of one week starting Jan 24th, 2023 to Jan 27th, 2022. We own zero shares of RSCZF

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