Geodynamics Limited (ASX:GDY) was registered as a public company in November 2000. The Company was formed solely to focus on developing renewable geothermal energy generation from hot dry rocks (HDR) in Australia.
A decision is expected as soon as mid year on the go-ahead for the first pilot power plant in Australia to use geothermal heat as its fuel source to generate electricity.
Geodynamics is moving ahead with its plan to harness clean and green energy from hot granite rocks buried deep in the Australian outback. In fact, the company is now regarded as one of the world’s leaders in developing HFR geothermal resources. And, with Australia under increasing pressure to cope with tough carbon emission guidelines, Geodynamics’ hot fractured rock project is under way at a key time in determining the country’s energy future.
The resource potential of Geodynamics Ltd's hot rock project in Australia's desert is large enough to produce enough electricity to provide all of Australia's electricity needs at current consumption rates for 70 years.
