HOUSTON, March 15, 2021 /PRNewswire/ -- ICE Thermal
Harvesting, LLC ("ICE") announced today its formation and
successful closing of an initial investment round led by Geneses
Capital Management, LLC ("Geneses") which includes investments from
Select Energy Services (NYSE: WTTR) and National Energy Services
Reunited (NASDAQ: NESR). The new venture will provide
zero-emission electric power to industrial consumers across
multiple sectors. ICE will focus on producing electric power
by harnessing geothermal energy. Utilizing a novel process
developed by ICE engineers, the company will leverage the
consistent and reliable energy provided by the earth's
heat.
ICE is co-founded by Ben
Bodishbaugh and Carrie
Murtland, who both previously served in leadership roles
with an industry-leading service provider where they were first
movers in the industrial-scale electrification of that
space. The team believes the trend of renewable energy growth
will continue and gain momentum. "A growing number of corporations
are committing to aggressive climate goals as a part of their
journey to become more environmentally responsible. Our goal
is to support companies in their journey by supplying zero-emission
power to expedite the achievement of their carbon reduction
targets" said Murtland.
Renewable energy investments make up a growing segment of
Geneses' portfolio, according to partner Shauvik Kundagrami.
"We are delighted to partner with a
high-caliber management team led by our founders Ben and
Carrie. Furthermore, we are extremely pleased to have Select Energy
Services and NESR as strategic investors, with
valuable market access in North America and the Middle
East respectively." Geneses is a Houston-based firm focused primarily on
opportunities across the energy, technology, and industrial
landscape.
ICE Thermal Harvesting is based in The
Woodlands, TX and focuses on supplying zero-emission power
in various regions around the world. The company is founded as a
partnership between like-minded individuals who view the global
energy supply holistically. Their desire is to help piece
together the energy mosaic that will provide for the society of the
future.
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SOURCE ICE Thermal Harvesting