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UK Oil & Gas PLC - London-headquartered exploration and production company - Has become one of the six founder members of the Geothermal Energy Advancement Association.
GEAA's mandate is to call for increased awareness of and investment in geothermal energy as a sustainable source for electricity, heat and hot water.
Looking ahead, UK Oil & Gas is scoping two new standalone geothermal projects in the UK, alongside a hybrid geothermal, solar and battery storage project at the Horse Hill site.
"With increased investment and a wider understanding of how geothermal energy can be used, geothermal can become a key part of the UK's low-carbon future," says Chief Executive Stephen Sanderson.
Current stock price: 0.25 pence
Year-to-date change: up 66%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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