GreenFire Energy, a geothermal company using closed-loop technology, has partnered with Stoic Transitional Resources, a company developing technology to maximize oil production assets, to advance innovative geothermal solutions.

The two companies have signed a cross-license agreement that includes GreenFire’s GreenLoop technology and Stoic’s Flux Crossover technology. As such, the Flux Crossover is to be combined with the GreenLoop technology to optimize flow patterns, minimize parasitic heat loss, and double heat transfer efficiency.

The two companies aim to repurpose non-productive geothermal wells and existing oil and gas wells to supply energy to data centers, large-scale power consumers, industrial heat users, and sustainable agriculture operations.

Analyst QuickTake: During the same month , GreenFire was awarded an agreement to support a geothermal initiative at Naval Air Facility El Centro in California as part of the US Department of Defense's pursuit of carbon-free energy. The company will implement its GreenLoop technology to support operations during grid power disruptions.