NEW YORK, Sept. 16, 2024 /PRNewswire/ — Magma Power, LLC, a Tampa, FL-based green energy start-up, has announced that it has secured 11 global patents for its groundbreaking magma-based renewable energy technology. These patents cover Magma Power’s innovative solutions for AI data centers, bitcoin mining, renewable baseload electricity generation, green fuel production, and more.
“We’ve unlocked a virtually limitless energy source that can power the world for generations,” said Levi Conner, CEO of Magma Power LLC. “Our technology delivers baseload renewable energy at a scale and price that is unprecedented. Magma Power is not just an energy innovation—it’s a breakthrough that will reshape industries globally.”
Magma Power’s patented systems are capable of producing baseload renewable energy at a target cost of 1 cent per kWh, a rate that could significantly reduce energy costs across industries. This game-changing price point is achieved by harnessing the immense heat from magma reservoirs, providing a constant, scalable source of green energy that can meet global energy demands for centuries.
Advancing Geothermal Energy
Building on early research from Sandia National Laboratories in the 1970s, which demonstrated the potential of magma drilling, Magma Power has developed this concept into a commercially viable technology ready for deployment worldwide.
“We’re building on a foundation of decades of scientific research, but our approach takes it further,” said KC Conner, Founder and Inventor of Magma Power LLC. “We’ve refined this technology to a point where it can be implemented at scale, providing reliable, clean energy to industries that need it most—whether it’s data centers, manufacturing, or transportation.”
In addition to the 11 patents already secured, Magma Power has filed 46 additional global patents with over 1,000 pending claims, covering all aspects of magma energy production and utilization.
Green Energy for Industry
Magma Power’s patented technology can be applied across a range of industries, offering transformative solutions for:
AI Data Centers: As AI computing power demands soar, Magma Power’s low-cost, constant energy supply is the ideal solution for powering data centers 24/7.Bitcoin Mining: Energy-intensive bitcoin mining operations will benefit from reliable, low-cost power, enabling sustainable and profitable mining at scale.Green Fuels: Magma Power enables the production of green hydrogen, ammonia, and kerosene, providing a carbon-neutral alternative for transportation and industrial sectors.
“Magma Power is designed to address the biggest challenges in energy today—providing clean, affordable, and reliable power,” said Richard McDonald, Chief Strategy Officer of Magma Power LLC. “What we’re offering isn’t just another renewable option—it’s a fundamental change in how industries like AI and transportation can think about energy. Our goal is simple: to deliver baseload power to the world, affordably and sustainably.”
Exclusive Licensing Opportunities Available
Magma Power is offering exclusive licensing agreements for over 1,000 identified global sites where magma power can be produced. These licenses provide partners with access to patented technology, enabling them to generate low-cost, renewable energy at under 1 cent per kWh. These opportunities are ideal for industries such as AI, automotive, aviation, and maritime, all of which are seeking affordable, green energy solutions.
“Our aim is to deliver baseload renewable power to users globally at a fraction of the cost of current alternatives,” added KC Conner. “We’re looking for partners who want to be at the forefront of this revolution.”
Licensing opportunities are available starting at $50,000 per month during the pre-production phase, with royalties beginning at 12.5% of revenue generated from power, green fuels, and other products derived from magma energy.
R&D Tax Credit Opportunities
Potential licensees may also benefit from the R&D Tax Credit (26 U.S.C. § 41) for research fees paid to Magma Power, LLC during the pre-production phase. This federal incentive provides dollar-for-dollar tax credits for investments in energy-related research and development activities, making it an attractive opportunity for companies looking to reduce their tax liabilities while advancing their sustainability efforts.
“Magma Power’s research is precisely the type of innovation that these tax credits were designed to support,” noted Levi Conner. “We’re encouraging potential partners to take full advantage of this opportunity while our technology is still in the R&D phase.”
Why Act Now?
Magma Power is expected to license all 1,000+ identified global sites within the next 6 to 12 months, after which time the opportunity to secure exclusive rights to this revolutionary energy technology will no longer be available.
In addition, R&D Tax Credits are only available during the experimental phase of Magma Power’s technology development. Once the technology is fully commercialized, these credits will no longer apply. Time is of the essence for businesses that want to benefit from both exclusive licensing opportunities and the associated tax incentives.
“Partnering with Magma Power now is the chance to be part of something truly transformational,” said Richard McDonald. “We’re creating a future where clean, reliable energy is the norm—not the exception. But this opportunity will not last long.”
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SOURCE Magma Power
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