Rock & A Hard Place: Cleantech Startup Suspends Drilling

Backed by over $30 million in venture capital and a $6.25 million DoE grant, AltaRock Energy has been drilling in Northern California geysers to establish pathways to hot rock, which it wants to inject with water to capture heat that would generate electricity. Yesterday, AltaRock suspended the project, citing "physical difficulties" in the drilling of its first well, "resulting from geologic anomalies particular to the formation underlying this well location." It claims to have not given up, instead saying that it's evaluating other locations for drilling with a reminder that it's filed 20 patents.