Federal Minister for Finance, Nick Minchin, handed Torrens Energy a $3m REDI Grant.

The funds will primarily be used to undertake precision heat flow measurement and mapping over TEY’s South Australian licences, and to develop specialist 3D temperature modelling software.

Together with detailed geological work, the data and software will reveal the nature of the geothermal resource beneath TEY’s licences and identify optimal targets for subsequent deep drilling.