GreenFire Energy Inc. Retains a Representative for Geothermal Projects in the Philippines

SAN FRANCISCO, California – February 13, 2024 – GreenFire Energy Inc. (GreenFire) today announced that it has entered an agreement with Alberto (Bert) R. Dalusung III to act as a representative of GreenFire Energy in the Philippines. Bert will assist GreenFire Energy in business development and the servicing of projects in the Philippines.

Bert has 40 years of experience in the renewable energy sector in the Philippines having worked in government and private industry. He has a wealth of knowledge and deep relationships in the energy sector. He served as director for Energy Planning in the Department of Energy where he was involved in pioneering work in geothermal steam pricing, electricity cost structures and transfer pricing, national energy balance reporting and conducted the first nationwide household energy survey. Bert was involved with the EU-ASEAN Cogen Programme which led to the first biomass power plant for a rice mill in the Philippines. He secured local funding for the Philippine Wind Atlas and was involved in the first utility-scale, grid-connected solar power plant and the 7-MW Bubunawan mini-hydro power plant. Bert was the former president of the Biomass Renewable Energy Alliance and member of the National Renewable Energy Board representing private developers.

"I am excited to work with GreenFire Energy as its GreenLoop technology has the potential for increasing the commerciality of local geothermal resources. Geothermal power plants have the highest capacity factors and lowest generation costs for baseload power plants in the Philippines,” said Albert R. Dalusung III.

“The Philippines is an important region for GreenFire Energy. We recently announced our second project with Energy Development Corporation which is funded by the U.S. Trade and Development Agency (USTDA). The project is applying GreenFire’s GreenLoop™ technology to boost geothermal power production at an idle well and rollout the technology in other geothermal wells at the Leyte Geothermal Field. Bert Dalusung has the experience and relationships in the Philippines to identify opportunities and service existing geothermal projects in the region,” said Joseph Scherer, chief executive officer, GreenFire Energy Inc.

About GreenFire Energy® Inc.

GreenFire Energy Inc. is committed to accelerating the generation of clean, continuous, reliable geothermal energy. The firm’s approach includes GreenFire’s GreenLoop™ closed-loop technology, a versatile Advanced Geothermal System (AGS); rich global geothermal expertise, both in-house and with industry-recognized partners; and collaboration with the world’s largest geothermal operating companies to deliver geothermal energy rapidly and economically. GreenFire Energy is based in the San Francisco, California area. Visit us at www.greenfireenergy.com.

Media Contact

Hollis Chin

VP Marketing

GreenFire Energy Inc.

media@greenfireenergy.com

+1.888.899.7363