Stock market

Australia Stock Markets.Green Rock Energy Ltd.

Green Rock Energy Ltd., an Australian company that trades on the Australian Stock Exchange.

As regular EnergyTechStocks.com readers know, in a world craving environmentally friendly power sources that can provide electricity on a continuous basis, geothermal and ocean wave power outshine solar and wind power, because the latter provide electricity on an intermittent, not a constant, basis. While investors’ focus has been almost entirely on solar and wind, EnergyTechStocks.com suspects that geothermal and wave power are about to experience a surge in interest.

Green Rock explores for and develops geothermal power projects in Australia and Hungary. The company recently entered into an agreement with Hungary’s largest oil refiner, Mol Nyrt. and Iceland’s Enex hf to create a company that reportedly will explore, produce and sell geothermal energy, first in Hungary, then in other countries. Interestingly, Green Rock’s technology is to be used for testing the geothermal potential of old oil wells, a concept that could capture a lot of attention from environmentalists.

Hungary has been described as a “hotbed” of geothermal energy, and while that doesn’t guarantee success for Green Rock, given that South Australia also is a geothermal target area for companies, Green Rock may be positioned to do well.