EarthGrid, a Bay-area plasma tunnel-boring technology and infrastructure development company, has signed a joint venture agreement with EnerTech, a Kuwait Investment Authority (KIA) entity, to deploy infrastructure projects in four phases across the U.S., Europe and the Middle East.
The first two phases consist of an estimated $18 billion in U.S. infrastructure improvement projects. The JV will utilize EarthGrid's patented plasma-powered machines to develop a network of underground tunnels designed to upgrade the current power grid and fiber networks with reliability, efficiency, and resiliency, while accelerating the clean power transition.
EarthGrid's plasma-boring technology and proprietary approach reduces the time and costs of undergrounding methods without harmful chemicals, primarily powered by clean energy. The JV will also help EarthGrid to add more than 100 GW of new renewable energy to the U.S. grid and resolve grid congestion in strategic locations.
EarthGrid offers its customers and partners preferred access to rights of way alongside public roadways to expedite underground fiber projects. The company aims to secure permits, as required, to add additional infrastructure to its tunnels and trenches, including power, water, and robotic freight tubes.
The JV’s project pipeline will be deployed in collaboration with an ecosystem of key capital, strategic and government stakeholders globally, including utilities, data centers, and clean energy companies.
EarthGrid was represented by a U.S law firm, Glaser Weil, with Jeff Joyner, senior partner of the firm, to execute the deal through his extensive experience in sustainable solutions.
