Green Investing | May 17, 2008 |
Geothermal: A Hot Commodity

Geothermal is a hot commodity, in some cases literally. CNBC gave the technology a thumbs up for investment, saying that, in 2007, private equity firms invested more than $400 million in geothermal and noting that one stock,Ormat Technologies, has outperformed the S&P by 40% over the last year. The website quotes Alex Harbin, an analyst with Toll Cross Securities: "I am very bullish on the sector so long as the tax credit gets extended – then it should be smooth sailing for these guys."
Meanwhile, the Geothermal Energy Association is planning a Ritz-Carlton shindig to "introduce geothermal energy to the NYC finance community."
Another company, ORF Genetics, is using geothermal to green one of its production facilities. The Icelandic biotech firm's new 22,000 square foot "Green Factory" is located in a lava field near the country's famous Blue Lagoon. If that wasn't odd enough, ORF Genetics produces 100 different types of protein growth factors using - I kid you not - hydroponically-grown barley on customized conveyor belts. I don't know whether to be impressed or scared.
Finally, Thomas R. Blakeslee of the Clearlight Foundation argues that the best nuclear power plant on earth is, well, Earth. He calls fuel-gathering a "deep human instinct" and an "obsession." I'm not sure I agree withBlakeslee's assertion that we build coal and nuclear power plants because we "love to gather" fuel, but I think his heart's in the right place.
*Steamy photo of the Blue Lagoon by Flickr-er minor9th.


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