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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.

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

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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