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GEODEPOWER

Cutting-edge deep geothermal system and drilling technology suitable for all users and locations

Total Cost €

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EC-Contrib. €

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Partnership

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 GEODEPOWER project word cloud

Explore the words cloud of the GEODEPOWER project. It provides you a very rough idea of what is the project "GEODEPOWER" about.

licensees    developer    geoscience    market    implies    model    temperature    sports    groundwater    team    location    gwh    2017    asker    business    rig    plan    lots    ratio    office    supplier    2007    founded    combined    enhanced    geodepower    closed    domestic    2016       venturing    cooling    plant    heat    contamination    almost    owner    small    initially    loop    projected    deep    150    populated    deliveries    round    fracking    runways    densely    oslo    patented    area    generation    arenas    hours    joint    energy    industrial    nov    noise    first    electricity    800m    power    17    ipp    ideal    wells    internal    delivering    return    lack    airport    buildings    irr    fit    jobs    environment    countries    installation    demanding    drilling    constructed    gradients    deployment    soil    rate    roll    operation    beginning    serve    plants    norwegian    managed    geothermal    geological    000m    parking    chp    completion    nordic    2x1500m    rock    sidewalks    space    trl7    trl6    heating    2023    emissions    zero    occupying    million    residential    outside    profit    sme    23    pumps   

Project "GEODEPOWER" data sheet

The following table provides information about the project.

Coordinator
ROCK ENERGY AS 

Organization address
address: LILLEAKERVEIEN 8
city: OSLO
postcode: 283
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Norway [NO]
 Project website http://www.rockenergy.no/
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3.3. (SOCIETAL CHALLENGES - Secure, clean and efficient energy)
2. H2020-EU.2.1.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT))
3. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
 Code Call H2020-SMEINST-1-2016-2017
 Funding Scheme SME-1
 Starting year 2018
 Duration (year-month-day) from 2018-01-01   to  2018-04-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    ROCK ENERGY AS NO (OSLO) coordinator 50˙000.00

Map

 Project objective

Rock Energy AS is a Norwegian SME founded in 2007 and managed by a highly experienced team within geoscience, rig, drilling, and energy systems. We have developed GEODEPower geothermal plants based on deep-drilling and enhanced geothermal well-system patented technology capable of delivering energy even in very low geothermal gradients, thus allowing exploitation at any location no matter geological activity. GEODEPower wells reach as deep as to 5,000 m, and through a closed loop system achieve high-energy delivery all year round occupying almost no space. Our technology can fit energy deliveries from 0.3 to 150 GWh/year/well with high utilization ratio in terms of operational hours. Thus, we can serve since low-temperature demanding end users such as residential and office buildings, sports arenas, parking lots, and sidewalks to airport runways, and large industrial users through heat pumps and combined heat and power (CHP) plants. GEODEPower closed-loop operation implies no fracking, no contamination of groundwater/soil, and zero emissions. These features together with the lack of operation noise, and the small area for installation, make them the ideal electricity, heating and cooling supplier in densely populated areas. The first GEODEPower plant to demonstrate the technology in a relevant environment constructed in Asker 2016 (down to 800m) is now in testing phase (TRL6). A plant with 2x1500m wells is planned for Oslo Airport, drilling phase beginning in Nov 2017. After project completion at the airport will be at TRL7. We have projected the roll out of our business plan initially through the Nordic countries, our domestic market, through an IPP developer model enabling to the end user to be plant’s owner. Outside the Nordic market, we are focused on the deployment of 5,000m wells by licensees and joint venturing. We expect €23,3 million profit by 2023, with an Internal Return Rate (IRR) of 17.8% for Rock Energy, and the generation of 70 new jobs.

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The information about "GEODEPOWER" are provided by the European Opendata Portal: CORDIS opendata.

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