GreenFire Energy, a geothermal company using closed-loop technology, has signed a Memorandum of Understanding (MoU) with Taiteck Co. and Taiwan Power Company, Taiwan’s state-owned energy company. Under this partnership, the companies will collectively develop geothermal projects in Taiwan, with GreenFire Energy's closed-loop technology, GreenLoop, accelerating the country's progress toward its Net Zero Emissions 2050 goal.

GreenFire Energy also partnered with PT Armada Energi Solusi, an energy technology and services company. Under this partnership, Armada will act as GreenFire Energy’s local channel partner in Indonesia and secure and service businesses in the country on behalf of GreenFire.

GreenFire Energy’s GreenLoop is a closed-loop advanced geothermal system capable of providing end-to-end solutions for geothermal project lifecycle spanning across power generation, direct use, and industrial applications. The technology enables new and existing operators and developers to retrofit idle wells, expand existing fields with new wells, and de-risk the development of new geothermal resources quickly and economically.