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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.

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

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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