Formerly | Black Sea Copper & Gold Corp., Alternative Earth Resources Inc. |
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Company type | Public |
TSX-V: QX | |
Headquarters | , |
Key people | Vince Sorace (President, CEO & Director) |
Total equity | 36.4 million USD |
Subsidiaries | Blue Mountain Power Company (BC) Nevada Geothermal Power Company (US) Zelenrok EOOD (Bulgaria) |
Website | qxmetals |
QX Metals Corp. (previously known as Black Sea Copper & Gold Corp. and previously Alternative Earth Resources Inc.) is a Canadian multinational corporation that is active exploring a porphyry copper-gold deposit in the Bulgarian Rhodope Mountains. The company was first incorporated on April 13, 1995, and most recently changed its name from Black Sea Copper & Gold Corp. to QX Metals Corp. in February 2019. The Black Sea Copper & Gold Corp. was created following the merger of the Alternative Earth Resources Inc. with Black Sea Copper & Gold Corp. in 2016. [1] Alternative Earth Resources Inc. itself was created on April 2, 2013 from Nevada Geothermal Power Inc. [2] The company had focused on producing geothermal electric power from high temperature geothermal resources in the United States. Based in Vancouver, British Columbia, the company had up to six geothermal projects in the Western United States. Despite federal government loan guarantees, the company faced financial trouble and there was "significant doubt about the company's ability to continue as a going concern". [3]
The company owns a 100% leasehold interest in six properties: Blue Mountain, Pumpernickel, Edna Mountain, and Black Warrior (located in Nevada), New Truckhaven (in California), and Crump Geyser in Oregon. The projects have a production potential of over 200 MW, enough green energy to power approximately 200,000 homes.[ citation needed ]
The company's Blue Mountain 'Faulkner 1' 49.5 MW gross geothermal power project started producing commercially in November 2009. But its actual production was only 35 MW. [3]
Geothermal energy is thermal energy extracted from the Earth's crust. It combines energy from the formation of the planet and from radioactive decay. Geothermal energy has been exploited as a source of heat and/or electric power for millennia.
NV Energy is a public utility which generates, transmits and distributes electric service in northern and southern Nevada, including the Las Vegas Valley, and provides natural gas service in the Reno–Sparks metropolitan area of northern Nevada. Based in Las Vegas, Nevada, it serves about 1.3 million customers and over 40 million tourists annually.
Geothermal energy was first used for electric power production in the United States in 1960. The Geysers in Sonoma and Lake counties, California was developed into the largest geothermal steam electrical plant in the world, at 1,517 megawatts. Other geothermal steam fields operate in the western US and Alaska.
Geothermal power is electrical power generated from geothermal energy. Technologies in use include dry steam power stations, flash steam power stations and binary cycle power stations. Geothermal electricity generation is currently used in 26 countries, while geothermal heating is in use in 70 countries.
The mining industry of Botswana has dominated the national economy of Botswana since the 1970s. Diamond has been the leading component of the mineral sector since large-scale diamond production began in 1972 by Debswana. Most of Botswana's diamond production is of gem quality, resulting in the country's position as the world's leading producer of diamond by value. Copper, gold, nickel, coal and soda ash production also has held significant, though smaller, roles in the economy.
Solar power in Nevada is growing due to a Renewable Portfolio Standard which requires 50% renewable energy by 2030. The state has abundant open land areas and some of the best solar potential in the country.
Canada has substantial potential for geothermal energy development. To date, development has all been for heating applications. Canada has 103,523 direct use installations as of 2013. There is currently no electricity being generated from geothermal sources in Canada although substantial potential exists in the Canadian Cordillera. The most advanced project exists as a test geothermal-electrical site at the Mount Meager massif in British Columbia, where a 100 MegaWatt (MW) facility could be developed. Potential for enhanced geothermal energy systems (EGS) exists throughout Canada. There are six geothermal power and two direct use projects listed with the Canadian Geothermal Energy Association.
AltaRock Energy Inc. is a privately held corporation that focuses on the development of geothermal energy resources and enhanced geothermal systems (EGS). It is headquartered in Seattle, Washington and has a technology development office in Sausalito, California. AltaRock has filed patent applications and holds exclusive licenses for related intellectual property related to EGS. In 2008 it started its first project near The Geysers in California to demonstrate the ability of EGS to be a reliable, renewable and clean source for the production of electric power.
Alterra Power Corp. a subsidiary of Innergex Renewable Energy Inc., is a diversified renewable power generation company based in Vancouver, British Columbia, Canada. It was formed in 2011 through the merger of Magma Energy Corp. and Plutonic Power Corp. It develops, owns, acquires and operates hydroelectric, wind, solar energy and geothermal projects. On February 6, 2018, Innergex Renewable Energy Inc. completed the acquisition of Alterra including all its assets.
The Copper Mountain Solar Facility is a 802 megawatt (MWAC) solar photovoltaic power plant in Boulder City, Nevada, United States. The plant was developed by Sempra Generation. When the first unit of the facility entered service on December 1, 2010, it was the largest photovoltaic plant in the U.S. at 58 MW. With the opening of Copper Mountain V in March 2021, it again became the largest in the United States. It is co-located with the 64 MW Nevada Solar One, 150 MW Boulder Solar, and 300 MW Techren Solar projects in the Eldorado Valley, thus forming a more than 1 gigawatt (GW) solar generating complex. By comparison, generating capacity at the nearby Hoover Dam is about 2 GW.
Ormat Technologies, Inc. is an international company based in Reno, Nevada, United States. Ormat supplies alternative and renewable geothermal energy technology. The company has built over 190 power plants and installed over 3,200 MW. As of January 2021 it owns and operates 933 MW of geothermal and recovered energy based power plants. Ormat has supplied over 1000 turbochargers worldwide: North America, South America, Europe, Australia, and Asia. The company's products also include turbines, generators, and heat exchangers.
Blue Mountain Faulkner 1 Geothermal Power Plant is a geothermal power plant located in Humboldt County, Nevada, United States. It is owned and operated by Nevada Geothermal Power Inc. Produced electricity is sold to NV Energy through a 21-mile (34 km) 120-kV transmission line to the transmission grid connection at Mill City, Nevada.
Energy Development Corporation is the largest producer of geothermal energy in the Philippines and the second largest in the world. It is involved in alternative energy projects, including geothermal, hydroelectric and wind energy projects. The company was formerly owned by the Philippine National Oil Company, a state corporation owned by the Republic of the Philippines engaged in the exploration of resources, production of energy and distribution of power supply to smaller electricity distributor. EDC was privatized and acquired by the Lopez Group as part of its energy and power supply utility business units.
U.S. Geothermal, Inc. was an independent geothermal energy company focused on the development, production and sale of electricity from geothermal energy, until its acquisition by Ormat Technologies in January 2018. The company operates three geothermal plants in the United States. located in Idaho, Oregon and Nevada, and is developing power plants in California, Nevada, Oregon as well as in Central America in the Republic of Guatemala.
The Boulder Solar project is a 150 megawatt (MWAC) photovoltaic power station near Boulder City, Nevada. It was built in two phases by SunPower using its Oasis Power Plant system. The project is co-located with several other large solar power projects in the Eldorado Valley.
The Puna Geothermal Venture (PGV) is a geothermal energy power plant on the island of Hawaii, the largest island in the state of Hawaii. The plant was shut down shortly after the start of the May 2018 lower Puna eruption, and resumed power generation in November 2020. The eruption had caused lava to flow over a PGV power substation, a warehouse and at least three geothermal wells that had been preventatively quenched and capped when lava fountains erupted nearby, eventually also cutting off road access.
The Techren Solar Project is a 400 megawatt (MWAC) solar photovoltaic power plant near Boulder City, Nevada. Electricity production began with completion of the two building phases in 2019–2020. The project is co-located with several other large solar power projects in the Eldorado Valley.