Project Inner Space applies oil and gas drilling expertise to accelerate geothermal energy development, aiming to supply a majority of global electricity and heat demand by 2050. By increasing geothermal drilling rates, the company seeks to unlock widespread clean power resources, leveraging existing technology and capital to expand geothermal capacity worldwide.
Funding
Funding not disclosed
Founders
Product
Problem
Geothermal energy development is limited by a lack of detailed resource data, high upfront drilling costs, and insufficient deployment speed, preventing it from scaling to meet global electricity and heating demand.
Solution
Project InnerSpace applies oil‑and‑gas drilling expertise and capital to accelerate geothermal deployment. It creates an interactive global geothermal resource and prospecting map to identify high‑potential sites, then uses the Geothermal Exploration Opportunities Fund (GeoFund) to launch first‑of‑a‑kind pilot projects that demonstrate rapid, low‑risk geothermal development. By transferring proven drilling technologies and operational practices from the fossil‑fuel sector, the organization aims to achieve drilling rates comparable to oil and gas, unlocking widespread baseload clean energy and reducing climate impact.
Target Audience
Primary customers are geothermal developers, oil and gas companies seeking diversification, and investors looking to fund low‑carbon energy projects, especially in regions with high heating demand and energy poverty.
Features
- Interactive global geothermal resource map (Phase I) that aggregates geological data to guide stakeholders to optimal drilling locations
- GeoFund deployment sprint (Phase II) that funds and fields multidisciplinary teams to build and operate pilot geothermal projects
- Transfer of oil‑and‑gas drilling techniques, equipment, and project management methods to reduce geothermal well costs and timelines
- Risk mitigation framework that de‑risk innovative geothermal concepts, facilitating private investment through traditional project financing
- Focus on projects in energy‑poor regions and future population centers to maximize social and climate impact