Nabors Invests in Ultra-Deep Geothermal Drilling Technology Innovator, GA Drilling

Nabors Industries | March 30, 2022

smart campus
Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) adds to its clean energy portfolio with a USD $8 million investment in GA Drilling, a.s. ("GA Drilling"). This strategic investment expands Nabors' commitment to deep-drilling technologies tapping super-hot, ultra-deep rock reservoirs.

GA Drilling, a geothermal technology company with headquarters in Bratislava, Slovakia, is a pioneer in plasma drilling. By integrating its innovative, contactless PLASMABIT® drilling tool into Nabors' industry-leading automated and lower-emission drilling operations, the collaboration aims to accelerate field commercialization and eliminate traditional economic barriers of ultra-deep projects to expand global access to geothermal energy. This agreement complements the pre-series investment round recently concluded by GA Drilling, with the total value of those new investments exceeding USD $20 million.

Nabors has continued to implement its energy transition strategy targeted at high growth potential, lower-carbon energy markets. Through its investments in multiple clean energy ventures, Nabors has started to establish several ecosystems of complementary technologies that can benefit from synergies with Nabors' existing operations and competencies.

GA Drilling joins Nabors' geothermal ecosystem, which is comprised of three other prior venture investments in geothermal companies. These technologies were purposefully assembled to help make geothermal energy widely accessible across geographies, while reducing cost per unit of energy generated to match the cost of other energy sources.

Meeting Decarbonization Goals

Geothermal energy is one of the only clean, renewable and reliable baseload energy sources; however, due to the limited geographical distribution of high-temperature gradients and high legacy drilling costs, its full potential remains largely untapped. PLASMABIT® is engineered to enable ultra-deep drilling in high-temperature hard formations at a cost comparable to unconventional horizontal drilling. Using an electric arc with a chemically assisted plasma pulse, this laboratory-proven bit aims to penetrate crystalline rock at high penetration rates, at depths exceeding 10 km (6.2 miles). Clean electricity is generated by producing water heated in the earth's crust and converting it to power at the surface. Building on a common technology ecosystem and infrastructure, and the ability to access geothermal almost anywhere, this solution should speed up and expand the availability of carbon-free fuel options for power generation.

Management Comments

"Now is the time to invest in innovative and bold geothermal solutions that have the potential to unlock terawatts of clean, renewable and reliable energy on a truly global scale. Given the expected sharp growth in global energy consumption over the next decades, the world will require an even sharper growth in sustainable energy supply. I am convinced that geothermal energy will be a key contributor to the necessary increase in clean energy generation. With our unmatched portfolio of drilling, automation and digitalization technologies, Nabors intends to become a key player in the upcoming expansion of geothermal energy. We look forward to leveraging the GA Drilling Centre of Excellence and integrating their technologies into our ecosystem."

- Anthony G. Petrello, Nabors Chairman, CEO and President

"We welcome Nabors not only as an investor but also as a strategic partner. The present agreement will allow us to move faster through the final stages of PLASMABIT® development, leveraging the synergies to integrate this revolutionary drilling tool into the systems of the rig. Nabors will introduce European high-technology capacities into the U.S. market. Together, we will work toward meeting imminent demand to rapidly diversify the global energy mix. With this collaboration, we have made another big step toward delivering on our promise of 'Geothermal Anywhere'."

- Igor Kočiš, Founder and CEO of GA Drilling

About Nabors Industries
Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With operations in more than 15 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. 

About GA Drilling
GA Drilling, with its patented PLASMABIT® technology, offers a solution for a local and independent source of electricity, heating, clean water, and food production in an unstable world. The company will provide scalable, modular, solutions to zero-carbon emissions energy production. Geothermal energy is the only renewable source of clean and baseload energy, available 24/7/365. It works regardless of weather conditions or the day-night cycle. PLASMABIT® brings a significant reduction in operational time and cost savings, drilling faster, deeper, and cheaper through any material, including hard rock and steel. The technology is the result of years of R&D, with 23 registered patents, supported by a full-time team of over 50 engineers and researchers, industrial funding, investors, some 20 EU research grants, and strategic technology development partnerships with drilling industry leaders from Europe, US, and Asia


In 2017, 70% of net new global power generating capacity came from renewable energy. Renewable energy now comprises over 10% of global total final energy consumption. Based on most projections, renewables will continue their swift increase over the next decade as an important source of energy, replacing fossil fuels, nuclear and other traditional sources of energy.


In 2017, 70% of net new global power generating capacity came from renewable energy. Renewable energy now comprises over 10% of global total final energy consumption. Based on most projections, renewables will continue their swift increase over the next decade as an important source of energy, replacing fossil fuels, nuclear and other traditional sources of energy.

Related News


Array Technologies Partners with RP Construction Services Sign 1GW purchase Agreement

Array Technologies | December 01, 2020

Array Technologies, Inc. today declared it has gone into a consent to gracefully 1GW of DuraTrack® HZ v3 single-pivot sun oriented trackers to RP Construction Services, Inc. Conveyances under the arrangement are required to start this December and proceed through the finish of 2021. RPCS gives configuration construct administrations to little and medium-sized ground-mounted sun based energy ventures over the U.S. what's more, is the main contractual worker for sun based energy ventures under 25 MWs. "The underwriting of the portion driving temporary worker for circulated energy ventures underscores both the strength of our item offering and the worth our trackers can make for tasks, all things considered. The little utility, civil, medium-sized business and network sun oriented business sectors are developing quickly, and working together with RPCS to address this portion of the market should additionally quicken our development in the U.S. I am additionally satisfied that this request follows on the Lightsource bp buy understanding declared recently, making it the second request more than 1 GW that we have gotten in the previous 30 days," said Jim Fusaro, Chief Executive Officer of Array. “We are incredibly excited about expanding our relationship with Array. They have the best system in the marketplace in terms of ease of installation, reliability, and durability. We have more than tripled the size of our company with their products over the past three years, and we look forward to continuing that growth with this agreement,” said Eb Russell, Chief Executive Officer of RPCS. About Array Technologies, Inc. Array Technologies is a leading global technology company providing tracker solutions and services for utility-scale solar energy projects as one of the world's largest manufacturers of ground-mounting systems. With efficient installation and terrain flexibility coupled with high reliability, durability, and performance, Array delivers a lower levelized cost of energy. The Company's focus on innovation, combined with its customer-centric approach, has helped achieve some of the industry's best returns. Array Technologies is headquartered in the United States with offices in Europe, Central America, and Australia. Contact us at or view our LinkedIn page. About RPCS RPCS provides turnkey design and installation services for ground-mounted solar energy projects in the U.S. with a focus on the distributed generation market. The Company has completed more than 700 projects, representing 2 GW of generation capacity, since 2015. RPCS combines a team-oriented culture that values all employees with innovative, tech-enabled work practices to deliver projects of all sizes on-spec and on-time.

Read More


IUCN and Huawei Both Push for a Greater Use of Technology to Protect the Environment

IUCN | June 07, 2022

The International Union for Conservation of Nature (IUCN), Huawei, and conservation project partners joined forces to urge for a greater global push to develop and implement innovative technologies to better safeguard the environment. The two partners held an online summit called "Tech for a Better Planet" to show how technology may dramatically improve nature conservation outcomes, as well as to introduce new digital technologies that are poised to become critical enablers of environmental protection. The process of responding to environmental concerns has raised awareness of the importance of technology in nature protection. "We believe that digital technology is a key enabler of environmental protection, All sectors of society should work together within an open and collaborative market environment to apply technological innovations to industries and transform new technologies into solutions and services that can help build a green planet." -Tao Jingwen, Director of the Board and Director of the Corporate Sustainable Development Committee for Huawei. Huawei supports the worldwide zero-carbon journey by promoting green development in industries through ICT breakthroughs. To speed the development of renewable energy, the company has merged power electronics and digital technology on the energy supply side. In terms of energy consumption, Huawei will continue to develop energy-saving technologies to improve the energy efficiency of ICT infrastructure, saving energy and lowering emissions in the process. Huawei has also created long-term partnerships to improve nature conservation outcomes by developing technology solutions that can better comprehend nature and lead to more effective biodiversity protection measures in a variety of environments. IUCN and Huawei started the global Tech4Nature project in 2020, and have since launched pilot programs in Switzerland, Spain, China, Mexico, and Mauritius based on the IUCN Green List Standard. IUCN, Huawei, and the Ecomode Society deployed the first underwater system in the Western Indian Ocean to monitor coral reef ecosystems in real time off the coast of Mauritius. The project's goal is to rebuild seriously threatened coral reef ecosystems by growing live coral in nurseries, transplanting it, and tracking growth, water conditions, and dangers such as algae. Underwater cameras with unique lenses, sensors, a 4G network to transport data, and AI to analyse the results are all part of the solution. Nearly 10,000 coral fragments have been transplanted to deteriorated reefs to date, with a total of 25,000 expected by the end of 2022.

Read More


Iron Mountain Data Centers are Among the First to Track Renewable Energy on an Hourly Basis

Iron Mountain | April 16, 2021

Iron Mountain Incorporated, storage, and information technology services provider reported today that it has taken a major step forward in the creation of improved technologies for buying renewable energy across easily accessible retail outlets by entering into an arrangement with RPD Energy and Direct Energy to monitor the hourly renewable energy load of Iron Mountain data centers. RPD Energy and Direct Energy will provide Iron Mountain with a monthly report detailing the match between average hourly generation and Iron Mountain's real hourly offtake from the grid. Traceability and environmental statements are assured by green energy credits issued by EDP Renewables North America and sourced from the same renewable developer to uphold the credibility of the transaction's renewable effect. About Iron Mountain Iron Mountain Incorporated, established in 1951, is the world's largest provider of storage and information management services. Iron Mountain stores and preserves billions of valuable properties, including vital business records, extremely sensitive data, and cultural and historical objects, and is trusted by over 225,000 organizations worldwide. It has a real estate network of nearly 93 million square feet across approximately 1,450 facilities in 56 countries. Iron Mountain helps customers reduce costs and expense, comply with laws, recover from disasters, and create a more modern way of operating by offering solutions such as safe records collection, identity security, digital transition, secure loss, as well as data centers, cloud computing, and art storage and logistics. About RPD Energy RPD Energy creates renewable energy options for businesses in the United States. RPD has directly sourced, flexible duration (2-8 years), right-sized contracts for renewable energy, and RECs from utility-scale wind and solar facilities that lack the complexity of conventional PPA/VPPAs. RPD Energy has been selected by Fortune 500 energy buyers to partner with their vendors to provide renewable energy contracts for their data centers, manufacturing plants, and corporate offices in many regions across the United States. The headquarters of RPD is in Houston, Texas.

Read More