Huge boost to Taupō District from Provincial Growth Fund
Regional Economic Development Minister Shane Jones yesterday announced two significant Provincial Growth Fund investments into entrepreneurial geothermal businesses in the Taupō District.
Geo40, a Taupō-based company employing 19 people, was awarded $15 million in funding. Geo40 has developed the technology to build and operate the world’s first commercial demonstration plant to extract silica from the geothermal fluid used for power generation, after which the geothermal fluid is reinjected back into the underground geothermal reservoir.
Taupō District Mayor David Trewavas said he was thrilled that Geo40 has been able to secure Provincial Growth Fund support.
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