Cyrq Energy
How a leader in geothermal technology is delivering 100% clean energy to its customers.
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Overview: Cyrq Energy is a leader in geothermal energy technology, delivering 100% green energy to customers across the United States. Headquartered in Salt Lake City, Utah, Cyrq offers geothermal plants all over the Western U.S., with more in development.
The Approach:
- To help scale their geothermal plants, Forbright joined in financing a $115 million credit to build additional facilities.
- Cyrq has six geothermal projects in various stages of development in CA, UT, ID and NV.
Results:
- Cyrq Energy is anticipated to develop 200MW of new geothermal energy from their portfolio over the next 8-10 years.
- This equates to the power released by over 2 million 100W lightbulbs. (Source)
Conclusion: By expanding their efforts through the financing joined by Forbright Bank, Cyrq Energy can continue to expand their efforts to provide accessible forms of renewable energy across the United States and beyond.
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