By rosebell
In order to using its plasma tunnel boring technology in the US, Europe and the Middle East, EarthGrid has concluded a joint venture agreement with EnerTech, that is a Kuwait Investment Authority (KIA) entity.
Including four phases, the first two phases of this agreement consists of almost US$18bn in US infrastructure improvement projects and developing a network of underground tunnels designed to upgrade the electricity grid and fibre networks using EarthGrid’s patented plasma-powered machines, will be the plan of this joint venture.
With the aim of reaching net-zero by 2050 for US, the quantit of new transmission that will be required over three decades is more than one million miles. Providing over than 100GW of new renewable energy to be added to the US grid as well as addressing grid congestion in strategic locations, will be enabled through the joint venture, EarthGrid.
According to EarthGrid founder and CEO Troy Helming: “On average, it takes 10-20 years to develop, permit, and build new overhead transmission lines, making it evident that an alternative approach is critical to meet the needs of US environmental goals. Through our joint venture with EnerTech, a cleantech and infrastructure developer, we are proud to support the much-needed evolution of the US power grid, enabling clean energy and improving core infrastructure development.”
As EarthGrid states, the advantage of its plasma-boring technology and proprietary approach is decreasing the time and costs of putting transmission lines underground, without harmful chemicals and primarily powered by clean energy.
While intending to accelerate the deployment of clean energy options worldwide, the company’s cleantech approach aligns with EnerTech’s goals to deploy breakthrough technology globally, with projects first in the US, and later Europe and the Middle East.
“We are thrilled to announce this partnership with EarthGrid to deploy what we believe is the fastest and most cost-efficient tunnel boring technology by far to improve core infrastructure,” said EnerTech CEO Abdullah Al Mutairi.
Considering that EarthGrid is a registered telecommunications utility in 46 states,it offers its customers and partners preferred access to rights of way alongside public roadways to expedite underground fibre projects. It intends to secure permits, as needed, to add additional infrastructure to its tunnels and trenches, including power, water, and robotic freight tubes.
Being founded in 2016, EarthGrid’s goal was creating a network of underground tunnels to transmit clean energy and high-speed broadband across the US. In addition to expanding electricity capacity, Ethe company aims to enhance the safety, security, and reliability of grid infrastructure, housing critical infrastructure underground to mitigate the impact of natural disasters.
