The global drilling contractor is investing a total of $21 million in a pair of geothermal technology companies. PHOTO SOURCE: Nabors Industries Nabors Industries (NYSE: NBR) reported last week that it is investing a total of $21 million in a pair of geothermal technology companies. In one instance, the drilling contractor will invest $10 million in Sage Geosystems Inc. Sage is developing geothermal technologies integrating surface (plant) and subsurface (well) components aimed at improving heat harvesting efficiency at a lower capital cost, according to a written statement from Sage. The investment from Nabors, coupled with $2 million from Virya, LLC, will help to accelerate Sage’s technology commercialization and construct its first commercial power plant, stated Sage, which is a Virya portfolio company. “Geothermal energy can be developed into an unlimited source of clean and renewable energy, which is available 24 hour a day, 365 days a year, but also […]