UK’s first Geothermal Development business signs world climate pledge
30 June 2022
The UK’s first end to end Geothermal business – CeraPhi Energy located in Great Yarmouth – has this month announced its commitment to deliver net zero carbon by 2040 with its signing of the Climate Pledge, a worldwide commitment made by companies and organisations across the globe.
Joining some of the world’s largest brands, including Amazon and Mercedes Benz, who have already pledged their support, CeraPhi joins more than 300 signatories, all of whom have pledged to deliver net-zero carbon by 2040.
Speaking about CeraPhi’s commitment to the Climate Pledge, Karl Farrow, Founder and CEO said: “CeraPhi’s signing of the Climate Pledge not only firmly demonstrates our commitment to reducing carbon emissions through our business proposition of providing the cleanest, carbon free, cheapest and most efficient 24/7 base load energy through geothermal, but also our passion and commitment as individuals to achieving net-zero carbon by 2040.’
CeraPhi is the first company in the UK to offer a complete end to end geothermal energy solution from securing finance to full development and build or equity return. Utilising innovative closed loop technology, CeraPhi’s patented plug and play solution provides proven, de-risked geothermal energy – one of the cheapest, cleanest and most efficient renewable energy sources available – at significant scale and capable of powering whole communities.
Only last month the company announced it was working with one of the world’s leading services contractor, Petrofac, on a ‘first of its kind’ study that will test whether oil and gas wells in the North Sea can be repurposed for geothermal energy.
Geothermal is a form of renewable energy taken from heat derived from the earth’s subsurface and which is contained within rocks and fluids. It is one of the cleanest forms of energy and can be used both as a direct power source as well as for heating and cooling utilities.