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DeepPower Announces R&D Program with the University of Oklahoma to Develop Its Breakthrough Geothermal Drilling Technology

The Company has entered into a Sponsored Research Agreement that will leverage the University’s deep drilling expertise to develop a novel method to drill deeper into the Earth than has ever been drilled before

LEHI, Utah, Nov. 29, 2022 (GLOBE NEWSWIRE) -- DeepPower, Inc. the developer of a breakthrough geothermal drilling technology to access the Earth’s unlimited source of clean energy, today announced that it has entered into a Sponsored Research Agreement with the University of Oklahoma which will leverage the University’s deep drilling expertise.

The goal of the research project, led by Dr. Saeed Salehi, will be to develop a novel way to drill through extremely hard rock in the effort to tap Earth’s source of unlimited clean energy.

Dr. Salehi, Associate Professor, Mewbourne Professorship in Petroleum Engineering, at the University of Oklahoma, has an extensive background in geological engineering. He previously worked as drilling and well engineer in the oil & gas industry and has more than ten year’s academic experience teaching and delivering university and industry customized courses.

Andrew Van Noy, CEO of DeepPower commented, “We are thrilled to be able to enter into this relationship with a prestigious University such as the University of Oklahoma. The University’s background in the oil and gas industry is extensive. Their previous work in that industry formed a technical foundation that allowed their research team to transition into the geothermal industry where they are making great strides.”

Mr. Van Noy continued, “When I first met Dr. Salehi, I could tell he was passionate about changing the world through providing clean geothermal energy solutions. That passion coupled with his background was what led me to believe he would be a great partner on our joint quest to develop new geothermal drilling technologies. It has been a pleasure working with him thus far and we are excited to continue our relationship together.

The Sponsored Research Agreement continues through June of 2024 and will allow the Company to access the University’s expertise and resources.

Dr. Saeed Salehi commented, “I am very much looking forward to working with Andrew and the DeepPower team. They understand that inventing a new technology takes time and money. I appreciate their commitment to help solve the formidable energy problem that the world faces. The possibility that our research and development project could dramatically alter the world’s source of energy gives my team and me all the motivation we need to help deliver a successful outcome.

Current state-of-the-art drilling technology found in the oil and gas industry cannot drill deep enough to make geothermal cost effective at a global scale. DeepPower is developing a suite of breakthrough drilling technologies to boldly go where no humans have gone before. The deeper we go the more energy we can unleash.

For more information about DeepPower, Inc., please visit our website at www.DeepPower.com

About DeepPower, Inc.

Deep Power is developing a breakthrough drilling technology to access Earth’s unlimited source of green geothermal energy. The Earth’s molten core is as hot as the Sun and harnessing just 0.1% of that heat energy can power humanity for 2 million years. Previous generations of drilling technology cannot go deep enough to make geothermal cost effective. We are developing a suite of advanced low-cost, high-temperature and high-pressure drilling systems to go boldly go where no humans have gone before. The deeper we go the more energy we can unleash. Unlike large area solar and wind farms, a 9-inch hole by 5 miles deep can produce the same amount of power as 320 acres of solar panels. Like a power plug into the Earth we aim to provide every city, state and country direct and independent access to this “holy grail” source of eternal green energy.

Forward-Looking Statements

This press release may contain “forward-looking statements.” Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as may be required under applicable law

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