Geodynamics is Australia's largest geothermal energy development company.

The Company's business plan is based on three distinct stages, (1) development of an underground heat exchanger; (2) development of a demonstration HFR geothermal power plant (50 MW) and (3) a commercial scale HFR geothermal power plant capable of generating 500 megawatts.

The Company listed in September 2002 with an IPO raising $11.5 million.

Since that time the company has raised in excess of $140 million to complete stage 1 of the business plan and is the recipient of a $5 million research and development grant under the Renewable Energy Development Initiative (REDI) program.

In November 2009, Geodynamics was successful in its application for a $90 million grant under the Federal Government's Renewable Energy Demonstration Program.  The grant will be used to fund the development of a 25 MW Commercial Demonstration Plant, which the Company expects will be producing commercial scale power by 2015.

Stage 1 complete
In 2009, Geodynamics announced that it had successfully proven its ability to extract heat from hydraulically stimulated hot fractured rock to create power. The achievement of 'Proof of Concept' is one of the major milestones for Geodynamics since its inception nine years ago and marked the completion of Stage 1 of its business plan.  For more information, on Geodynamics' progress to date, click here.