EarthGrid, a Bay Area-based company specializing in plasma tunnel-boring technology, has announced a joint venture with EnerTech, an entity of the Kuwait Investment Authority (KIA). The partnership aims to deploy $18 billion in U.S. underground utility projects to enhance infrastructure and power grid resilience.
Upgrading U.S. Power Grid and Fiber Networks
The joint venture will focus on developing underground tunnels using EarthGrid’s patented plasma-powered machines. This approach is designed to improve power grid reliability and fiber networks, speeding up the clean energy transition. The first two project phases, estimated at $18 billion, will take place in the U.S., with plans to expand into Europe and the Middle East.
The U.S. aims to achieve net-zero greenhouse gas emissions by 2050, requiring over a million miles of new transmission lines. EarthGrid’s technology will help add more than 100 gigawatts of renewable energy while addressing grid congestion. Currently, 70% of U.S. transmission lines are over 25 years old, signaling the urgent need for modernization.
Reducing Project Timelines and Costs
Traditional methods for developing overhead and underground transmission lines are slow and costly. EarthGrid’s plasma-boring technology offers a faster, cost-effective, and eco-friendly solution. “It takes up to 20 years to build new overhead lines. Our joint venture with EnerTech aims to revolutionize this process,” said EarthGrid CEO Troy Helming.
Global Infrastructure and Clean Energy Expansion
EnerTech, focused on cleantech and infrastructure, will work alongside EarthGrid to expand clean energy deployment globally, beginning in the U.S. and later in Europe and the Middle East. “This partnership leverages cutting-edge technology to accelerate infrastructure development,” added EnerTech CEO Abdullah Al Mutairi.
EarthGrid holds telecommunications utility certifications in 46 states, providing access to rights of way to streamline fiber projects. The partnership also envisions adding power, water, and robotic freight infrastructure to these tunnels.
Collaborative Global Effort
The joint venture will work with various capital, strategic, and government stakeholders to support these projects globally, including clean energy firms and utilities.
Source: prnewswire.com
