GTherm Announces Its NetZero Low-cost Solution for Bitcoin and Crypto Data Centers Providing Nonstop Electricity
HOUSTON, Sept. 2, 2021 /PRNewswire/ -- Houston-based GTherm, industry leader in the development of the patented game-changing GTSystem, announces its GTherm Comprehensive Energy System ("GTSystem") as a low-cost energy providing solution for data centers serving the bitcoin and crypto currency markets.
As cryptocurrency mining is taking off around the world, the success of these data centers is tied to the consistent stream of low-cost electricity for computers and other machinery. The GTSystem is off grid, eliminating grid permitting and connection delays. Often, getting the needed materials and legacy systems to operate such as electrical transformers, grid permitting and switches, can take years as local governments highly regulate access to power grids.
However, with the implementation of the GTSystem, that uses both carbon capture and carbon sequestration, NetZero low-cost power can be achieved, and more importantly, sustained for these data centers. A patented modular implementation of the technology is used to generate power that achieves a five nines reliability (99.999%). This nonstop system minimizes the risk of generation failures caused by a polar vortex or other nonpredictable events, allowing the reliable electric generation for the Data Center.
The data centers meet the following requirements:
The GTSystem uses both CO2 sequestration and CO2 absorption to create NetZero baseload power.
This nonstop system provides viable economics for Bitcoin and Crypto Currency data centers.
The GTSystem generates clean baseload electricity by implementing the electric generation on an oil and gas reservoir and sequestering CO2 from power generation into the oil reservoir as oil and gas are extracted, contributing to the EOR (Enhanced Oil Recovery). There is no flaring of gas (the gas is used for power generation) and the oil extraction does not utilize fracking. Low-cost hydrocarbons are used as the fuel for power generation allowing for the production of NetZero electricity. This efficient alternative is appropriately priced for the Bitcoin and Crypto Currency transaction processing markets.
The low-cost electricity is achieved using the following:
- CO2 sequestration credits
- CO2 absorption credits
- Carbon credits
- Elimination of electric distribution costs
- No line losses
- No backup generators
- Geothermal cooling
- No harmonic distortion
All or some of the extracted hydrocarbons can be used to generate electricity. The reservoir project becomes an Independent Power Producer ("IPP") that generates the nonstop, reliable low-cost electricity for the data centers at a competitive cost.
Absorption of CO2 with stimulated crop growth
The GTSystem allows for profitable secondary use of the surface land of the reservoir. A portion of the separated CO2 and nitrogen from the generation of electricity is used to stimulate crop growth in greenhouses. Growing food through photosynthesis absorbs CO2 and produces a large quantity of oxygen (much more than planting trees) generating carbon credits. The controlled greenhouses, with stimulated growing, results in accelerated food growth (30%) and increase sales of produce with improved margins.
Generation of NetZero low-cost bulk hydrogen
As an option, a portion of the clean electricity can be used to effectively produce NetZero low-cost bulk hydrogen using electrolysis (no CO2 generated). The hydrogen can then be used in place of natural gas and gasoline/ diesel fuel.
Implications for Texas
This innovative technology has become even more poignant, following the passage of the bipartisan CATCH Act, which increases the carbon capture credit from $50 to $85 and the carbon sequestration credits per metric ton of CO2. By using this technology, within the framework of the CATCH Act, and the sequestration, GTherm can use these additional benefits to create low price energy for Texas consumers.
About GTherm
GTherm, Inc. is a Houston-based company that has invested in the development of the patented, game-changing GTSystem. The Data Center Company will follow ESG principles and addresses the United Nations Sustainable Development Goals. The GTSystem addresses the low-cost NetZero baseload power nonstop generation requirements for Bitcoin/Crypto data centers.
About GTSystem
The GTSystem can produce 200 MW per each four-square miles of reservoir in the targeted oil field. The reservoir covers 200 square miles. The plan is to develop 36 square miles (1.8 GW). The first project is located in Texas and could be an independent power producer for the state. The system design has been vetted by Siemens and a system performance warranty will be provided. The design includes using gas turbines for the baseload clean nonstop electricity generation. This first of its kind electric generation will produce reliable NetZero electricity from fossil fuel with no emissions profitably. The project will provide substantial investment returns and is scalable.
Financials and project details are available. See contact information below.
SOURCE GTherm
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