Toyo Engineering Corporation (President and CEO: Eiji Hosoi, TOYO) has been selected by the Japan Organization for Metals and Energy Security (JOGMEC) to conduct a feasibility study as part of its third round of the Next-Generation Geothermal Power Generation Technology Program. TOYO's proposed study, titled "Feasibility Study on Coaxial Closed-Loop Geothermal Power Generation Technology in Japan," was officially approved for commissioning.
This study will evaluate the technical feasibility of implementing a coaxial closed-loop geothermal technology - a next-generation geothermal power generation system - within the domestic context. Unlike conventional geothermal systems that rely on groundwater or geothermal reservoirs, this closed-loop approach enables power generation in a wider range of geological conditions, where heat sources are present. The system functions by circulating a heat transfer fluid (such as water) through a coaxial double-pipe structure installed underground, capturing geothermal heat, which is then used to generate electricity at the surface.
TOYO has entered into a collaboration agreement with GreenFire Energy Inc. (GFE), a U.S.-based geothermal technology company. This agreement enables joint development of geothermal project opportunities across the Asia-Pacific region. GFE's Advanced Geothermal Systems (AGS), based on a coaxial closed-loop design, will be examined for its applicability to Japan. Through this partnership, TOYO aims to unlock new opportunities for effective and sustainable use of geothermal resources in Japan, contributing to the country's clean energy transition and broader carbon-neutral goals.
Overview of the Coaxial Closed-Loop System
=== Please refer to the link below ===
September 9, 2025 Toyo Engineering Corporation Enters into Collaboration Agreement with GreenFire Energy Inc. (USA) for Joint Development of Next-Generation Geothermal Systems
About TOYO
Founded in 1961, TOYO Engineering (TOYO) is a comprehensive engineering company that has built a global network, providing engineering services and plant construction to clients in over 60 countries worldwide. Starting with its ammonia and urea chemical fertilizer businesses, TOYO has cultivated unique technologies and expanded its business into diverse areas such as petrochemicals, oil and gas processing, resource development, and power generation. Furthermore, with the mission of "contributing to the sustainability of the Earth and society through engineering," TOYO is committed to realizing a sustainable society by introducing environmentally friendly solutions and cutting-edge technologies to achieve a decarbonized society.
Learn more: https://www.toyo-eng.com/jp/en/
TOYO's Geothermal Solutions: https://www.toyo-eng.com/jp/en/solution/geothermal/
