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The World's 1st Blockchain Integrated Geothermal Energy Company

Eden GeoPower Inc. is a geothermal technology company that develops off-grid renewable energy infrastructure to meet energy demands of emerging blockchain, cryptocurrency and H2 production technologies.

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THREE CHALLENGES

Energy Intensive Mining Operations

Cryptocurrency mining operations consume enough electricity to power 4,927,360 U.S. households. This is more than Israel, Greece, and Algeria's annual power consumption.

Capital intensive Renewable Energy

Although geothermal energy is one of the cheapest forms of renewable energy, the high initial capital costs of a geothermal project has inhibited innovations in this sector.

Underperforming Geothermal Wells

There are more than 2 Milion retired wells in the U.S. alone. The oil & gas industry is facing a multitude of fines and regulations due to abandoned wells across the country.

ONE SOLUTION



Our solution is to utilize exisiting geothermal infrastructure to produce cheap (< 5¢/kWh) renewable geothermal energy. This energy will be consumed off-grid to power cryptocurrency mining and future H2 production operations.

We are currently working with partner geothermal and oil & gas companies to develop technologies for transforming abandoned wells into sources of cheap, renewable, geothermal energy. This is supported by 3 provisional patents, as well as a R&D grant from The U.S. - National Science Foundation.

Many abandoned wells are drilled into very hot reservoirs, with the potential to generate MW's of cheap, renewable, geothermal energy. The consitency of geothermal energy creates a unique opportunity to satisfy the energy demands of emerging technologies, which require a stable source of electricity, while also providing the flexibility to operate remotely.

Our system involves a single well acting as an injector and producer at the same location, eliminating a need for the conventional two well system (injector and producer). Hot brine is pulled from deep within the reservoir and interacts with a second working fluid with a much lower boiling point in a downhole heat exchanger (DHE). As the working fluid changes phase, it passes through a turbine-generator assembly placed in the well, generating electricity on it’s way to the surface.

Each project that we develop will be owned, financed, and distributed to a decentralized network of investors. Revenue generated at each power plant will be paid through a security token to a decentralized group of individuals who funded the construction of each facility. This is an opportunity to fight climate change, while increasing one’s assets.

TEAM

Paris is a geophysicist researching seismicity in geothermal fields of Yellowstone Park. He is highly involved in MIT and Harvard student Energy clubs.

Paris Smalls

Founder, CEO, & Chairman of the Board

Ammar is an MIT graduate in Geophysics with 7 years experience in the oil & gas industry working as a geophysicist for Saudi Aramco.

Ammar Alali

Co-founder & Board Member

Mehrdad holds a PhD in Mechanical Engineering from UCF. He is currently the PI of an NSF SBIR project at Eden GeoPower to test and commercialize an electrical pulsed technique for reservoir stimulation and production enhancement.

Mehrdad Mehrvand

Principal Investigator. R&D Project Engineer

Fermin has 4 years of experience as a Wireline Field Engineer working at Schlumberger. He received his MBA in Project Management from Hult International Business School.

Fermin Carrillo

Project Manager

Trey majored in mechanical engineering at Tuskegee University and is currently pursuing an MBA at MIT. For 5.5 yrs, he managed drilling rigs and oversaw the completion process for Chevron.

Thomas Wilder

Business Strategy Manager

Abhijith holds MS in Computer Engineering from University of Maryland at College Park. He worked as an analyst for British Telecom prior to his masters; he has been a blockchain developer for the last one and a half years; building prototype for decentralized token exchange with atomic swap and designing – researching tokens according to the new standards.

Abhijith Rajeev

Blockchain Developer

Moadth is a project manager, worked in manufacturing with JBS by developing continuous improvement to operations, possessing a green belt six sigma and quality assurance certificate. Established his career for the past 3 years in entrepreneurship ventures by founding his company Globr, and working as a business analyst and a product support manager for software development.

Moadth Basulouh

Business Analyst

Krapali holds Masters of Science in Information Systems at Northeastern University, Boston. She holds expertise in computational algorithms , software development and latest web design technology. She has more than two years of experience of working in Software Development and Design for Fortune 500 MNCs and possesses IBM blockchain certification.

Krapali Rai

Full-Stack Software Developer

Jessica holds a Masters in Strategic Public Relations from the University of Sydney, New South Wales. She has more than four years of experience working in the Marketing and Public Relations industries for Fortune 500 companies and startups in New York City, Boston and San Francisco. Her main focuses are strategic messaging, media relations and digital marketing

Jessica Cid

Public Relations

ADVISORS

Maureen is Partner at Good Growth Capital VC Fund for early stage tech companies. Maureen was Co-founder and COO of Ignition Ventures, launching start-ups, working as Acting CFO and COO for several technology startups such as SiOnyx, Zoragen, Ember, and Lilliputian Systems. Maureen holds a PhD, MS, and MBA from MIT, and a BS Civil Engineering from Carnegie Mellon.

Maureen Boyce

COO & Co-founder of Ignition Ventures

Aaron is an entrepreneur and engineer who has co-founded and been involved in raising capital from leading institutions for several companies at the nexus of energy and water, including AltaRock, WaterFX, Oasys, Coskata and GreatPoint. Through his leadership, this portfolio of companies is advancing new products in fields such as solar desalination, industrial water treatment, enhanced geothermal energy, coal gasification and alternative chemicals.

Aaron Mandell

CEO & Co-founder Altarock Energy

Troy is the U.S director of Off-Grid Box, a clean technology providing affordable clean water and renewable energy in remote areas. He has 5 years of experience helping over 13 startups develop effective branding, build strategic partnerships, find funding, and grow effective teams. He has a degree in International Management from a Swiss and U.S. accredited university.

Troy Billett

OffGridBox - US Director

NEWSLETTER

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FAQ

Below you'll find answers to the questions we get asked the most. If you have any other questions, please get in touch using the contact form below.

What is geothermal energy?

-geo is of Greek origin and pertains to matters ‘relating to the earth’, while -thermal is of Greek-French origin and is related to ‘heat’. Geothermal energy is heat that is produced at the Earth’s core, which is estimated to have the same temperature as the surface of the Sun. Geothermal energy is naturally displayed on surface as volcanoes, hot springs, fumaroles, and geysers.

How is Geothermal Power generated?

The conventional method of Geothermal Power generation is to tap into natural geothermal reservoirs which contain hot water/steam, pathways for fluid to flow within the rock, and an impermeable cap rock that prevents these fluids from flowing naturally to the surface. Once a reservoir is drilled, hot water/steam is flown to the surface through the wellbore, then the steam turns the blades of a turbine coupled with an electric generator at the surface, generating renewable electricity.

Is Geothermal Power cheaper than solar and wind?

Geothermal Power is usually cheaper than Solar and competitive with Wind due to the fact that the energy source (earth’s core) is active 24/7 at a constant rate. According to numbers from the Energy Information Agency, Geothermal energy’s Levelized Cost of Electricity (LCOE) is 4 cents/kWh while Solar PV is 4.6 cents/kWh and Wind is 3.7 cents/kWh. However, as Solar PV and Wind are intermittent sources, they need to be combined with storage systems, which drastically increases the costs of these projects.

What is bitcoin mining?

Bitcoin mining is the process of verifying and validating transactions between bitcoin users in a trustful manner. This process requires computational power in order to maintain the database of transactions by solving computational puzzles. In turn, it requires electricity and hardware to solve these computational problems. Additionally, in return for the computational power put into the systems (costs of acquiring the hardware and electricity costs), miners are rewarded with newly generated bitcoins and transaction fees as part of the process.

Why does bitcoin mining need energy?

Bitcoin mining requires energy to solve computational problems or puzzles created by the system. The network is calibrated to increase or decrease the difficulty of the puzzles so that every 10 minutes or so, a miner solves a puzzle and therefore is rewarded with bitcoins. As more people or miners join the bitcoin network, the difficulty is increased to maintain the same amount of time (10 minutes) to solve the puzzle, requiring more computational power, and therefore more electricity for each bitcoin produced. Currently, Bitcoin mining consumes more energy than the entire county of Thailand.

Why is Geothermal Power better for bitcoin mining than Solar and Wind?

Bitcoin mining is a 24/7 process that requires a constant source of electricity. In this sense, building renewable solar and wind power plants for Bitcoin mining is un-economical due to the intermittent source of electricity. To provide the 24/7 power needs of a Bitcoin miner, these technologies would require the installation of expensive storage units (image battery is the size of your house) to provide the required constant supply of electricity. Geothermal is unique because:

1. Geothermal Power is renewable.

2. Geothermal Power is usually cheaper than Solar and Wind (< 5 cents/kWh).

3. Geothermal Power is true baseload (can provide energy 24/7 without requiring energy storage).

What is your business mode?

Each power plant will be created under the digital issuance of a Special Purpose Vehicle (SPV). This legal entity will allow for the isolation of assets from the parent company (Eden GeoPower), essentially decentralizing each power plant to be its own unique project. The only functionality of each project would be to maximize revenue, then pay dividends to shareholders of the project based off equity ownership. Eden GeoPower will retain a small percentage of equity from each power plant, and generate revenue as a SPV token holder.

How does this make money?

The main source of revenue will come from the Bitcoin mining process. Bitcoin mining is unique because it allows for revenue to be generated at any location that contains cheap electricity. We will develop the renewable energy infrastructure off-grid (far away from communities), mine bitcoin, then pay token holders the bitcoin we mine. The renewable energy infrastructure we develop will last 30+ years and will later be used to produce hydrogen for clean fuel cells in the future. Moreover, the creation of these renewable energy projects will occur additional revenue from the generation of carbon offsets and renewable energy credits that will help improve the economics of the project.

Can you explain your Security Token model in simple terms?

Our security token will allow people to maintain partial ownership of a power plant. Individuals will be paid in relation to how much of the power facility they own. The token can be liquidated at any time by trading on an alternative token exchange.

What do you mean by a “Decentralized” Power Plant?

Energy infrastructure is currently owned by large corporations and governmental entities. We plan on introducing a new set of investors into the renewable energy sector by ‘backing Bitcoin by power plants’’. We will utilize the high energy demands of “proof-of-work” to develop large MW-scale renewable energy power plants, and will support Satoshi’s Vision by giving ownership of each power plant to the decentralized cryptocurrency community.

Will I really have ownership of these power plants?

Yes. You will literally own a percentage of each power plant.

How do I make money from these security tokens?

Each token will be initially offered at a discounted price. We will follow current SEC regulations to properly issue these tokens as securities, and have the tokens listed on alternative token exchanges. These tokens can 1.) be sold on exchanges after purchase or 2.) held on to and allowed to return dividends as the power plant generates revenue.
Here is a simplified example: Bob own’s 10% of a power plant that he purchased for $200,000 at a $2 million evaluation. The powerplant generates $1,000,000 in profit annually, and Bob is paid $25,000 quarterly for his 10% ownership. After 5-years, the power plant has increased to a $4 million evaluation due to governmental tax cuts and carbon-credits for renewable energy. Bob decides this is a good time to liquidate his equity in the power plant, and sells his 10% ownership for $400,000 on an alternative token exchange. He was also paid $500,000 over the course of the 5-years as dividends from his ownership, giving him a 4.5x return on his investment.

When can I start trading my security tokens?

We anticipate that the tokens will be tradable immediately after purchase, although we encourage participants to hold onto their tokens as long as possible to maximize their investment.

What happens if mining bitcoin becomes un-economical?

Yes, we actually expect that the impact of climate change will increase the value of each renewable energy power plant. Governmental entities across the globe are becoming more aware of the impact climate change will have from an economical and societal perspective. Due to this, measures are currently be taken by governmental entities to increase investments in renewable energy infrastructure.
What we are presenting here is the first real opportunity to get rid of the negative stigma surrounding Bitcoin’s energy usage. If we are successful, we would have used Bitcoin’s high energy consuming “proof-of-work” algorithms as an opportunity to actually fight climate change. Our strategy is to:
1. Incentivize people to fund the powerplant for a large MW-scale cryptocurrency mining operation.

2. Utilize the generated revenue to accelerate the pay-back period for each power plant.

3. Transform the power plant into a hydrogen producing facility to provide clean fuel for the future.

We believe that this is the first time in history that there has been an economical solution for how to use Bitcoin’s high energy consumption as an opportunity to accelerate the growth of renewable energy technology. This is all thanks to the 24/7 energy availability of geothermal energy.

Will the security token / power plants be influenced by climate change?

Yes, we actually expect that the impact of climate change will increase the value of each renewable energy power plant. Governmental entities across the globe are becoming more aware of the impact climate change will have from an economical and societal perspective. Due to this, measures are currently be taken by governmental entities to increase investments in renewable energy infrastructure.
What we are presenting here is the first real opportunity to get rid of the negative stigma surrounding Bitcoin’s energy usage. If we are successful, we would have used Bitcoin’s high energy consuming “proof-of-work” algorithms as an opportunity to actually fight climate change. Our strategy is to:
1. Incentivize people to fund the powerplant for a large MW-scale cryptocurrency mining operation
2. Utilize the generated revenue to accelerate the pay-back period for each power plant
3. Transform the power plant into a hydrogen producing facility to provide clean fuel for the future

CONTACT US

Write message

info@EdenGeoPower.com