SAGE-GEOSYSTEMS-INC.
Sage Geosystems Inc. (Sage), a geothermal and energy storage company, announced today that it will be partnering with Electrocentrale Bucuresti S.A. (ELCEN), Romania’s leading producer of thermal and electrical energy in Bucharest. This partnership will explore how geothermal energy can be implemented within the city of Bucharest to replace a fossil-fuel based thermal plant with a clean, reliable alternative energy source. The first project will generate up to 70MW thermal power for a district in Bucharest and upon its success will be expanded to other Romanian projects and cities.
Sage will rely on its field-proven Geopressured Geothermal System (GGS) technology, which maximizes the heat harvested and minimizes cost. A feasibility study will be performed in partnership with the National Renewable Energy Laboratory (NREL).
“Sage is thrilled to be supporting Romania’s transition to clean energy and to introduce geothermal energy applications to its capital city,” said Cindy Taff, CEO and co-founder of Sage Geosystems. Lev Ring, President and co-founder of Sage Geosystems, added “We are proud to be involved with NREL, the U.S. Department of Energy (DOE) and the Partnership for Transatlantic Energy and Climate Cooperation (P-TECC) and we are looking forward to the many partnerships and advancements we will develop in Europe as a result of this program.”
The general director of ELCEN, Claudiu Crețu, shared at the Profit Energy.forum in October 2023, that the company would be conducting studies to see if it can use the geothermal heat from underneath Bucharest for the centralized heating of the Capital.
ELCEN currently produces 40 percent of Romania’s and 90 percent of Bucharest’s thermal energy for district heating, and implementing a renewable energy source like geothermal would significantly reduce carbon emissions throughout the city and the country.
For more information, please visit www.sagegeosystems.com.
About Sage Geosystems Inc.
Sage Geosystems was founded in 2020 and is developing energy storage and geothermal baseload technologies deep in the earth. The Sage Geosystems team has over 150 combined years in the oil and gas industry, with experience delivering major projects including Deepwater, Arctic, and Unconventional shales. The company is headquartered in Houston, Texas. For more information, visit www.sagegeosystems.com.
About Electrocentrale Bucuresti S.A.
ELCEN is both an electricity producer and a heat energy producer. It is the largest thermal (heat) energy producer in Bucharest, Romania as well as nationwide. Founded in 2002, ELCEN is a subsidiary of Termoelectrica S.A.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240723000910/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
FPT Named Sitecore’s First Global Partner Under Global Elite Reseller Program8.1.2026 09:00:00 CET | Press release
Global IT Corporation FPT announced its appointment as the inaugural Global Elite Reseller under a new initiative from Sitecore that expands upon its successful Global Reseller Program. The Global Elite Reseller Program follows the launch of SitecoreAI, the next-generation digital experience platform that puts artificial intelligence at the center of marketing, unifying content, data, and personalization in one composable platform so organizations can reach, engage, and serve their audience across digital channels. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260107425261/en/ Representatives from FPT and Sitecore at the Global Elite Reseller signing ceremony. Under the agreement, FPT will hold exclusive reseller rights in Vietnam and non-exclusive rights across select markets in Asia and the Middle East, taking SitecoreAI to market and showing how it helps teams plan, create, and optimize digital experiences using AI as cu
Natus Sensory Appoints Arne Boye Nielsen to Board of Directors8.1.2026 08:00:00 CET | Press release
Natus Sensory, a global leader in sensory and diagnostic solutions, today announced the appointment of Arne Boye Nielsen to its Board of Directors, effective January 1, 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260107392331/en/ Arne Boye Nielsen Arne brings more than 30 years of executive leadership experience in diagnostics and medical technology, most notably as President of Demant Diagnostics, where he built and scaled the business into a global leader over three decades. During his tenure, Arne played a central role in shaping Demant Diagnostics’ long-term strategy, portfolio expansion, and international growth, establishing it as a cornerstone of Demant’s global healthcare footprint. In addition to his executive leadership background, Arne brings extensive board experience. His deep expertise across diagnostics, governance, and value creation will further strengthen Natus Sensory’s Board as the company contin
4Moving Biotech Receives FDA IND Clearance for 4P004, Strengthening Its Position as a Leading Innovator in Disease-Modifying Osteoarthritis Therapeutics8.1.2026 07:30:00 CET | Press release
FDA IND clearance enabling the worldwide expansion of the INFLAM MOTION Phase 2a trial, involving major U.S. sites Advancing the first clinical proof of concept in OA with a first-in-class intra-articular GLP-1 agonist A holistic clinical strategy design establishing the foundation for a future accelerated approval pathway 4Moving Biotech (4MB), a clinical stage biotechnology company developing next-generation, disease-modifying therapies for osteoarthritis (OA), today announced that the U.S. Food and Drug Administration (FDA) has cleared its Investigational New Drug (IND) application for 4P004, enabling the expansion of the Phase 2a INFLAM MOTION clinical trial into the United States (US). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260107798042/en/ 4Moving Biotech (4MB), a clinical stage biotechnology company developing next-generation, disease-modifying therapies for osteoarthritis (OA), today announced that the U.S. F
Organon Enters into a Commercialization Agreement for Daiichi Sankyo’s Nilemdo®in France, Denmark, Iceland, Sweden, Finland and Norway8.1.2026 07:30:00 CET | Press release
The agreement builds on Organon’s cardiovascular disease portfolio, leveraging expertise to expand access to new treatments for patients with dyslipidemia, especially statin-intolerant patients.This collaboration addresses a critical gap in care that disproportionately affects women, who are at a 47% higher risk of developing statin intolerance compared to men.i Organon today announced that it has entered into an agreement with Daiichi Sankyo Europe to commercialize Nilemdo® (bempedoic acid) in France, Denmark, Iceland, Sweden, Finland and Norway. Nilemdo® is a new, first-in-class drug indicated for patients with high cholesterol and cardiovascular disease risk. It provides an alternative treatment for patients that cannot be treated effectively with statins.ii “This collaboration combines Organon’s commercial agility with Daiichi Sankyo’s expertise in cardiovascular innovation to bring Nilemdo® to patients in France, Denmark, Iceland, Sweden, Finland and Norway,” says Thibault Crosnie
Prodapt Earns ISO 42001 Certification, the New Global Benchmark for Responsible Enterprise AI8.1.2026 07:00:00 CET | Press release
Prodapt today announced that it has been awarded the ISO 42001 certification, the world’s first and the only global standard for AI Management Systems (AIMS). Marking a significant milestone in its journey, Prodapt is setting a higher benchmark to deliver secure, ethical, and scalable AI for global enterprises. ISO 42001 lays a rigorous framework for governing AI across strategy, technology, and operations. The certification, awarded by an independent accredited body, validates Prodapt’s enterprise-grade AI management framework, including executive-led oversight, strong technology foundations, and disciplined operational processes. These measures ensure AI systems are responsibly designed, deployed, monitored, and evolved throughout their lifecycle. The evaluation emphasizes risk management, ethical AI practices, transparency, and scalability, confirming Prodapt’s ability to proactively identify and mitigate risks while ensuring accountability in AI-driven outcomes. Human-in-the-loop c
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom