News from across Colorado quickly noted

Geothermal company in Craig, La Plata Electric hires consultant, new money to plug old wells, $50 million for battery factory in Thornton

New company in Craig sees future in geothermal sector

High Altitude Geothermal is a new company in Craig that hopes to create a future in designing, drilling, and installing geothermal ground-source exchange systems and heat pumps. During the next four years, the new company plans to hire five people.

The company was recently accepted into the state’s Rural Jump-Start Program, which will allow it to qualify for relief from the state business income tax, the sales and use tax, and county and municipal business personal property taxes. Qualified employees can also get relief from state income taxes.

The new business will also be eligible for grants. Because this is in a top-tier coal transition community, the business will be eligible for up to $40,000 in operating grants and $4,400 per qualified new hire.

In an announcement released by the office of Gov. Jared Polis, the founders and owners of the new company, Kristine and Matt Cooper, said the response to their business launch has been overwhelming. “We are excited to provide future employment opportunities for our region as we transition away from coal,” they said.

Polis made the potential for geothermal – both to reduce need for combustion of natural gas in heating of buildings and for potential production of electricity – his signature effort during his year as chair of the Western Governors Association.

Battery manufacturer to get $50 million in federal aid for Thornton plant

A Colorado company is to begin award negotiations for up to $50 million in federal funding under the Bipartisan Infrastructure Law that will allow it to move forward with what it calls a new breed of battery that could displace lithium-ion batteries in EVS and other applications.

“Designed to be safer, offer higher energy and cost less than lithium-ion,” proclaims Solid Power on its website.

Solid Power has headquarters in Louisville, where it also has an all-solid-state pilot production line and soon-to-be-installed EV Cell manufacturing line.

This money will be used to expand its plant in Thornton, near I-25 and C-470 houses the company’s electrolyte manufacturing, cell testing and R&D.

The company says it intends to use the money to expand the Thornton plant and reduce costs of production through the “first known implementation of an efficient, continuous manufacturing process.”

The company believes its sulfide-based solid electrolyte material is a key component that will enable performance advances in energy density, safety, high-temperature stability, and cost.

The company currently can produce 30 metric tons of electrolyte material annually at its Thornton plant. Through this multi-year capital improvement project, the company plans to increase production capacity to 75 metric tons in 2026 and to 140 metric tons in 2028.

“We view our selection for funding by the U.S. Department of Energy as validation of the promise that sulfide-based all-solid-state batteries hold,” said John Van Scoter, Solid Power’s president and chief executive officer.

“By adopting a continuous manufacturing process for our electrolyte, we expect to be able to meet anticipated near-term demand and set Solid Power up to become the leading global producer of sulfide-based solid electrolyte.”

Will Toor, executive director of the Colorado Energy Office, called out the role of Colorado businesses in helping electrify transportation.

Consultant to help La Plata Electric chart its future

La Plata Electric Association has secured the services of Mercuria Energy America to help build a new energy portfolio once it leaves Tri-State Generation and Transmission in April 2026.

“What sets Mercuria apart is their ability to help us design and secure a portfolio of assets tailored to our specific needs,” said Ted Compton, president of the La Plata Electric Board of Directors. “With their support, we’re confident that this collaboration will deliver exceptional reliability and economic efficiency.”

Mercuria is a global company but with a team based in Denver. La Plata has a goal of cutting its carbon footprint 50% by 2030 as compared to 2018 levels while keeping electricity costs lower than 70% of other cooperatives in Colorado.

Colorado gets $12.6 million from feds to plug methane coming from old wells

Colorado has received a $12.6 million grant from the federal government to induce the voluntary plugging of oil and gas wells on non-federal lands.

“Now we will get more old wells plugged,” said Gov. Jared Polis in a ceremony at Barr Lake, northeast of Denver during an August announcement. “Colorado is a national leader in reducing emissions and protecting air quality, and these grants will strengthen this work and move us closer to our climate goals.”

The effort will prioritize wells that are known to be high methane emitters and those close to disproportionately impacted communities.

The grant is part of the federal Methane Emissions Reduction Program that is overseen by the EPA and the Department of Energy. The program received $350 million from the Inflation Act.

Colorado Energy & Carbon Management Commission will execute this project.

Colorado legislators first appropriated funds in 1990 for plugging orphaned wells, which are wells for which no owner or operator can be found or where the owner or operator is unwilling or unable to plug the well.

As of late February, Colorado had 469 wells to plug among 1,410 with work planned or in progress. It costs an average $92,710 to plug a well. More than half that figure includes literally plugging the well. In addition, such projects also involve removing equipment and performing environmental remediation.

Colorado’s work has been augmented by funding from the federal Infrastructure Investment & Jobs Act. The state got a grant of $24 million for fiscal year 2022-2023. In 2023, the state also entered into an agreement with the Bureau of Land Management to perform work on orphaned wells on federal lands.

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