CALGARY, June 15 /CNW/ - The Canadian Geothermal Energy Association (CanGEA) is pleased to announce that with the latest addition of Raser Technologies Inc. and US Geothermal Inc.; CanGEA now represents all the geothermal energy developers listed on the TSX and TSX-V. Together (with existing members Sierra Geothermal Power Corp., Ram Power Corp., Nevada Geothermal Power Corp. and Magma Energy Corp.) CanGEA represents over $1.1 billion in market capitalization with member projects across four continents. The Association has seen support for geothermal energy at an all time high as membership has more than doubled in recent months to include Google Inc., Ernst & Young and SNC Lavalin Group Inc. CanGEA is pleased with the display of support for the Canadian geothermal energy industry and is proud to represent the industry's global leaders in geothermal exploration and development.
Recently, the geothermal energy industry has seen substantial interest and activity as evidenced by Schlumberger's acquisition of member GeothermEx, Inc. and the proposed acquisition between Sierra Geothermal Power Corp. and Ram Power Corp. The industry is also seeing an influx of traditional energy players from the oil & gas sector taking a serious look at the geothermal energy industry. With its ability to provide renewable heat and power geothermal energy is ideally suited to tackle some of the oil & gas industry's major challenges - especially in the Alberta Oil Sands. Schlumberger's latest acquisition lends support to the trend that geothermal energy is fast becoming one of the world's greatest sources of clean, renewable, base-load energy.
For CanGEA the strong interest in geothermal energy has been palpable. "We're seeing interest from nearly all corners of the globe with almost half of our members based outside of Canada," said CanGEA Marketing and Membership Director - Nicole Robson. With an abundance of geothermal resources Canada is one of the last countries to harness geothermal energy - a fact which CanGEA is working to change as Canada is one of the last countries bordering the "Pacific Ring of Fire" yet to develop geothermal energy. While the industry looks to Canada as the next frontier, CanGEA is actively lobbying federal and provincial governments to embrace geothermal power and its many benefits. "Geothermal is a vital source of energy," says Robson, "not only can it provide emission-free base-load power but it can also provide the level of investment and job creation that Canada needs to bounce back from this economic recession."
In the meantime, CanGEA is leading the charge to place Canada firmly on the world stage of geothermal power producing nations. The Third Annual CanGEA Geothermal Power Conference and Trade Show, to take place in Vancouver, BC August 8th - 10th will draw hundreds of representatives from geothermal developers, industry service providers, utilities, and renewable supporters to explore the many opportunities emerging in the industry. Like the resource itself, interest for this clean, renewable energy is heating up and steaming to the surface.
About CanGEA: CanGEA is a national industry association that believes we can provide competitively priced, emissions free, renewable, base-load energy to Canadians and to U.S. export markets. CanGEA works on behalf of our members to facilitate the growth of geothermal power projects and promote publicly listed companies on the Canadian Exchanges.
The Canadian Geothermal Energy Association (CanGEA) thanks CNW Group for its continued support of our association.
SOURCE CANADIAN GEOTHERMAL ENERGY ASSOCIATION (CANGEA)
For further information: For further information: Nicole Robson - firstname.lastname@example.org, Marketing and Membership Director, The Canadian Geothermal Energy Association