![]() ![]() 'Chevron believes that the future of energy is lower carbon and aims to be a leader in providing affordable, reliable and ever cleaner energy. MOECO and Chevron New Energies Japan will consider commercial applications based on learnings from this pilot both in Japan and globally and will leverage the long relationship between the two companies that has developed through a collaboration of more than 40 years in energy development in the Asia Pacific region. The pilot test using this ACL technology is expected to be conducted in the Niseko region of Hokkaido, Japan, with the aim of derisking, scaling and commercializing geothermal power generation based on ACL technology with additional potential as a heat resource. ACL is gaining momentum worldwide as a novel technology that has the potential to unlock geothermal energy globally in multiple locations, closer to load and customers, promoting geothermal development which can be a lower carbon energy solution and a reliable baseload. It does not require direct extraction of hot water (brine) or steam from underground reservoirs, as is the case with conventional geothermal technology. The agreements to conduct pilot testing by Chevron New Energies Japan and MOECO is the first project contemplated by the JCA.ĪCL technology involves sub surface heat exchange through conduction by circulating a working fluid from the surface through a loop of underground wells to generate electricity (through surface facilities) by utilizing sub surface geothermal heat (sub surface radiator). signed a joint collaboration agreement (JCA) with MOECO to further explore the technical and commercial feasibility of advanced geothermal energy development and other new energies technology. In September 2022, Chevron New Energies International Pte, Ltd. Pursuant to these agreements, Chevron and MOECO will conduct pilot tests of a developing novel geothermal technology, specifically advanced closed loop (ACL) technology. Chevron New Energies Japan, a subsidiary of Chevron, and Mitsui Oil Exploration Co (MOECO) have announced execution of definitive agreements to proceed with the pilot testing of advanced geothermal technology. ![]()
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