Global Care Capital Inc (RSCZF) enters into the rising Geothermal Sector
Today, Global Care Capital Inc (OTC US:RSCZF) (CSE: HLTH) (FSE: L6V2) a global investment company which engages in early-stage investment opportunities in private and public companies provided an update to the signing of the Memorandum of Understanding (the “MOU“) with Titan Electricity Ltd. UK, (“Titan“) on December 19, 2022.
Global Care Capital (OTC US:RSCZF) announce that it has entered into a share purchase agreement among the Company, Carbon Canada Corp. (“Carbon Canada“) and the wholly-owned subsidiary of Carbon Canada, Bishop Hill Holdings Ltd. (“Bishop Hill“) dated January 20, 2023 (the “Share Purchase Agreement“), which sets out the terms and conditions for the acquisition by the Company of up to all of the issued and outstanding securities in the capital of Bishop Hill in exchange for cash and securities of Global Care (the “Transaction“).
Bishop Hill holds a 15% undivided interest in Titan. Titan holds global intellectual property rights to the “Geo-Engines™” a net zero geothermal energy generation technology used for gas cleaning (Sour Gas), CO2 sequestration and domestic energy supplies. Oil and Gas companies using Titan’s “Geo-Engines™” can potentially cut onsite CO2 emissions to zero, help improve energy security and break the reliance on coal and oil.
Geothermal energy is a type of renewable energy that is derived from heat within the earth’s subsurface. This heat is transported to the surface through water or steam, and can be harnessed for a variety of purposes, including heating and cooling buildings, as well as generating electricity. However, it should be noted that electricity generation using geothermal energy is typically only viable in areas near active geothermal regions. Several countries, such as Iceland, El Salvador, New Zealand, Kenya, and the Philippines, rely heavily on geothermal energy to meet their electricity and heating needs.
According to research from Rystad Energy, Europe is facing a growing demand for geothermal heating as it experiences an energy crisis. Governments are seeking cost-effective alternative energy sources to replace gas heating. The study predicts that the total installed capacity of geothermal heating will increase by 58% to reach 6.2 GWt in 2030, up from the current total of 3.9 GWt. This expansion is expected to cost around $7.4 billion. Although geothermal technology has been available for many years, it may be on the verge of widespread adoption. However, high development costs compared to other energy sources and potential risks such as drilling success rates and subsurface atmosphere have limited its use so far.
Global Care Capital Inc (RSCZF) is currently trading at $0.0038 and has a 52 week high of $0.04. Although speculative at this time, if RSCZF was to retest its 52-week high, traders could be looking at huge potential gains.
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