Belgian pharmaceutical company investing into geothermal energy
Belgium pharmaceutical company Janssen is planning to invest up to $42 million into geothermal energy for heating its facilities.
Belgian Janssen Pharmaceuticals reports plans to invest up to EUR 40 million ($42 million) in geothermal energy.
With that step the company becomes the first Belgian company to take the step towards geothermal energy, planning to drill a well of up to 2,400 meter depth. The plan is to start drilling after this summer.
The company has received funding of EUR 4 million from the Flemish Energy Agency and EUR 2 million from the Agency for Innovation and Entrepreneurship. The European Regional Development Fund added EUR 1.5 million in the package.
The company plans to reheat and cool the buildings in its facilities effectively reducing the heating bill. The company can also reduce its carbon footprint by 30%.
” We have been working for many years on an ambitious plan to use geothermal energy on our site. Our energy needs are enormous and geothermal energy is an ideal solution ,” says Stef Heylen, CEO.