Drilling technology firm Geothermal Anywhere receives US$3.7m EU funding
Slovakian Geothermal Anywhere has been granted US$ 3.7 million in EU research funding. The company is developing new innovative drilling platform, based on non-contact method that would enable to drill ultra deep, to depths of 6-10 kilometers cost effectively.
In a release on the company blog, “Slovakian Geothermal Anywhere announces that its proposals under the Agency of the Ministry of Education of the Slovak Republic for the Structural Funds of the European Union (ASFEU)“ have been approved and been granted US$ 3.7 million.
The company is developing new innovative drilling platform, based on non-contact method that would enable to drill ultra deep, to depths of 6-10 kilometers cost effectively.
These are three projects focused on applied research on field of geothermal ultra deep drilling, administrated by Geothermal Anywhere and its partners:
- The outcome of the first among the successful projects should be the progress in developing the innovative contact-less drilling technology for ultra deep geothermal wells. It should be reached by combining and transferring knowledge across various disciplines, obtained to this time.
- The second one aims to develop resistant control system, which could be used in industrial environment characterized by high pressure, temperature as well as the level of electric-magnetic interference.
- Last but not least, the third project aims to develop innovative source of energy fueling ultra high pressure impulses that are the core principle of GADigger component of ULTRADRILL robotic platform.
“We are very pleased to be selected by the Agency of the Ministry of Education (ASFEU) to receive funding for new ultra deep drilling technologies,” said Geothermal Anywhere’s CEO Igor Kocis. “Unique in Central Europe, awarded grants are completing the mosaic of different technologies necessary for the whole system operation,” he added.
The total value of these R&D projects reaches almost 4,400,000 US$, which includes all three public grants as well as private co-financing.
The first project is administrated directly by Geothermal Anywhere, the other by cooperating companies. All of the research and development activities will be implemented under the cooperation with leading Slovak universities as well as scientific institutes (Slovak Technical University, Comenius University, University of Zilina and Slovak Academy of Science). By this way, the administrator company supports the philosophy of usefulness of creating links between the commercial and academic world.
Besides starting the phase of research itself, Geothermal Anywhere now looks for the other partners. In line with all three projects’ targets, the administrator is looking for financial or strategic partners. All of the eligible costs of three projects would be reimbursed by the Ministry once the R&D outcomes would exist.”