Gradient Resources is engaged in the exploration and development of geothermal resources as well as the construction, ownership and operation of geothermal power plants. The Company is headquartered in Reno, Nevada with a regional office, drilling operations center, and well-cementing plant near its Patua and Fallon projects. Gradient was initially incorporated as a Colorado corporation in 1991.

Gradient’s core business is the development, design, construction, and operation of clean, renewable electric power generation projects and the sale of baseload renewable geothermal power to utilities located in the western United States. On a secondary level, through its subsidiaries, Gradient is also engaged in the business of drilling geothermal production wells, supplying specialized cement services for geothermal drilling activities and providing geothermal software services.

Vertically Integrated Platform

Gradient owns five geothermal drilling rigs (three production well rigs and two core rigs), complete well-cementing operations and proprietary geothermal exploration and development technology. This vertical integration provides the Company with considerable scientific, drilling and construction advantages, scheduling flexibility, and significant cost savings per well, compared to outsourced drilling operations. By co-locating the key technical equipment, Gradient benefits from increased responsiveness and utilization efficiencies compared to those reliant on third-party contractors.

In addition, Gradient subsidiary Gradient GeoData owns a powerful, proprietary software package to provide for the storage, analysis, and presentation of the tremendous amount of geothermal data produced during the exploration and evaluation of its geothermal projects. This proprietary technology includes GDManager, WELLSIM, and Steamfield Manager.