This certainly does sound promising, according to the CEO's statement in the press release of July 1 as follows:
Michael Parrella, Chairman and CEO of Four Crystal Funding, Inc. said, "We believe that this geothermal breakthrough may be able to supply all of New York State's electrical needs by implementing 1,300 wells at a one time capital cost of $6.6 billion. Using a twenty year amortization of the capital, the cost per kilowatt hour for New York would be $.04." In addition, "Using off shore idle oil platforms we can generate hydrogen with the equivalence of 54,000 gallons of gasoline per month per well. Best of all the process is completely green."