HFR (hot fractured rock) geothermal development company GeoDynamics announced that it has sold 22.3M shares at $1.50 per stub to raise $33.5M (Australian.) Post offering, the company now has 258.9M shares outstanding for a market cap of over $388M (A.) The company continues its development of a 500MW planned HFR project in Australia.

June 17-18, 2008, the SMU Geothermal Laboratory will host the Geothermal Utilization Conference focusing on co-production in the petrochemical and electricity generation fields along with EGS. Since petrochemical fields tend to be pressurized, full of water, and hot, it is only natural that secondary harvest of electricity is possible.

Details about the conference are available here.