NEWS

12 January 2023

Two market leaders aim to pioneer large-scale commercial geothermal heating networks to meet the challenge and resilience of UK energy by building scalable cost-effective heat networks, as CeraPhi Energy and GreenGlove Boreholes announce the signing of an exclusive heads of terms agreement to deliver geothermal solutions for industrial, urban and residential heating networks.

GreenGlove Boreholes are market leaders in geothermal drilling and are fast building a multi-disciplined nationwide drilling expertise focusing on deep geothermal boreholes. The company has recently invested in excess of £3m in next generation drilling technology.

CeraPhi is a leading developer of scaleable geothermal energy solutions using its proprietary CeraPhiWell and CeraPhiPro modelling systems delivering end to end solutions for closed loop geothermal energy.

The exclusive agreement for the UK and Ireland focuses on CeraPhi Energy securing access to GreenGlove Borehole’s deep drilling capability for wells up to 1500 meters in depth. It will use state of the art next generation equipment for the installation of

CeraPhi’s patented technology CeraPhiWell, comprising a closed loop downhole heat exchanger that draws subsurface heat and can be used for different applications for scalable baseload energy including:

• Low Temperature Heat Networks
• Low Temperature Climatised Agriculture
• Medium Temperature Heat Networks
• Medium Temperature Heating Systems and Industrial Processes
• Desalination and Water Treatment
• Power Generation
• Green Hydrogen through Electrolysis

CeraPhiWell is at the heart of CeraPhi’s energy strategy to de-risk the commercialisation of geothermal energy at scale by both drilling new wells and repurposing end-of-life and non-producing oil and gas wells, proving the huge commercial potential for geothermal energy production in the UK and globally.

CeraPhi Energy™ CEO Karl Farrow said:

“The decarbonisation of heat represents a huge challenge to the UK’s net zero goals and the current cost increase of energy specifically heat is a direct result of high prices of fossil fuels such as Gas and Oil and we have to move away from our dependency of these fuels within our day to day energy mix. By using the abundance of energy for the heat beneath our feet using our closed loop CeraPhiWell system we can access the inexhaustible energy anywhere with zero environmental risk, requiring no hydraulic fracturing, no use of water and providing enough energy within the next 10 years to solve our energy crisis for good providing clean affordable baseload energy for everyone. “

“This alliance stands to bring about a significant step change and shift in the commercial scalability and effectiveness in the use of heat networks within the decarbonisation process. It will also bring wider acceptance of using heat as a direct source of energy, whether for space heating or cooling. “

GreenGlove Boreholes Technical Director, Paul Fowler said:

“GreenGlove Boreholes Ltd are pioneers in the geothermal drilling industry, we pride ourselves in pushing the boundaries to innovate new concepts to drive geothermal energy and enable it to be accessible to the masses on a global scale, at an affordable rate. With our countries mission to become net zero by 2050 in our sights, our team is working tirelessly to present further offerings to our suite of services.

Having secured the strategic exclusivity (heads of terms) with the likes of another industry leader in CeraPhi Energy, will enable us as a partnership, to offer a complete package solution to the end-user market. CeraPhi’s experience and knowledge in the O&G sector is second to none and we are extremely excited to see how far we can take the geothermal offering with them over the coming years.”