ZeroGeo Energy announce Air-FTG® Survey in Lower Saxony, Germany
ZeroGeo Energy GmbH, the operator and developer of geothermal power projects in Europe, is pleased to announce the commencement of an Air-FTG® full tensor gravity and magnetics survey (the “Survey”) over an area of 5,000km² in Lower Saxony, Germany. The FTG Survey will underpin the Company’s intention to develop industrial scale geothermal power projects, supplying base load green electricity to Germany and Switzerland.
Highlights:
ZeroGeo has contracted with Bell Geospace to fly a 5,000km² Air-FTG® Survey in Lower Saxony, Germany.
The Survey is expected to be completed by mid-December 2022, with the first processed and interpreted data available late January 2023.
The Survey is being conducted by the ZeroGeo – OMV joint venture.
ZeroGeo has issued an open invitation to parties who wish to invest in the Survey or ZeroGeo’s development plans.
FTG Survey
ZeroGeo has contracted with Bell Geospace to fly the Survey, with the Basler BT-67 plane due to arrive in Hildesheim, Germany in the coming days. The Survey is expected to commence mid to late November 2022 and to be completed by mid-December 2022.
The Survey will allow ZeroGeo to evaluate the geothermal energy potential in the area and plan our next steps so that we can safely and successfully explore, appraise and develop Lower Saxony’s geothermal resource for the benefit of all stakeholders.
The Survey will be over 5,000km² to the north and north-east of Hanover. Full details of the Survey area and more information on the Survey can be found on ZeroGeo’s dedicated project website: www.projekt-thermo.energy
ZeroGeo – OMV Joint Venture
ZeroGeo and OMV Aktiengesellschaft (“OMV”), the international integrated oil, gas and chemicals company headquartered in Vienna, are joint venture partners with respect to the Survey. ZeroGeo and OMV are collaborating with respect to geothermal projects in Germany and Switzerland.
OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.
ZeroGeo Capital Raise and Development Plans
ZeroGeo, in conjunction with Hannam & Partners (its financial adviser), has commenced a capital raise process and has an open invitation for parties who wish to participate in the capital raise, to purchase the Survey data or to farmin to ZeroGeo’s prospects to contact either the Company or Hannam & Partners.
John Ashbridge, CEO of ZeroGeo, commented:
“We are very excited to have started our exploration of the geothermal potential of the North German Basin in Lower Saxony. By deploying the Air-FTG® technology for the first time in Europe to explore for geothermal resources, ZeroGeo is starting as we mean to continue, by defining new paradigms to unlock the enormous geothermal energy resources beneath our feet. We believe there is sufficient potential to develop industrial scale baseload geothermal power production in the region and we are committed to exploring and developing this green energy resource in a sustainable way for the benefit of the local community and Germany as a whole. We have an open invitation to those parties who wish to join us in this exciting venture.”
Contact Information
ZeroGeo Energy GmbH
John Ashbridge/Anthony Hawkins
start@zerogeo.energy
Hannam & Partners
Sam Merlin/Sean Urquhart
sm@hannam.partners su@hannam.partners
Notes to Editors:
ZeroGeo Energy GmbH, a Swiss company, is the operator and developer of geothermal power projects in Europe.
The Company is committed to contributing to the energy transition by delivering low carbon and baseload geothermal power at industrial scale by deploying Next Generation Geothermal Power Technologies fused with leading energy project implementation and financing expertise.
The Company is developing projects that will do this - delivering ‘always-on’ baseload green energy which the Company calls GeoPower.
The Company is led by an experienced Board and senior management team and the Company will leverage its expertise and experience in capital-intensive oil and gas projects, build synergies with our strategic partners, and deploy the latest developments in Next Generation Geothermal Power Technologies.
GeoPower greenhouse gas emissions will be certified in accordance with the Greenhouse Gas Protocols and our Environmental, Social and Governance (ESG) polices are fully aligned with the UN Sustainable Development Goals.
To find out more, visit www.zerogeo.energy or follow us on Linkedin: https://www.linkedin.com/company/zerogeo-energy/.
Air-FTG® is a registered trademark of Bell Geospace Ltd https://www.bellgeo.com