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CeraPhi Energy announces funding round to raise capital

CeraPhi Energy is aiming to raise $15 million in capital to fund the expansion of the company’s overseas operations.

In a press release, UK-based geothermal energy specialist CeraPhi Energy announced the launching of a funding round that aims to raise a capital of USD 15 million through its US platforms with plans to expand its operations overseas. The funding round will be launched on investment platform JUSTLY.

Investors interested in the CeraPhi Energy business are invited to visit the JUSTLY site for more information. A minimum investment of USD 100,000 is indicated on the website.

Formed in June 2020, CeraPhi Energy is the first company in the UK to offer a complete end to end geothermal energy solution around its closed loop technology, from securing finance to full development and build or equity return and – in May – announced it had been awarded a  ‘first of its kind’ funded study by the UK Net Zero Technology Centre that will evaluate whether oil and gas wells in the North Sea can be repurposed for geothermal energy.

The business has enlisted Petrofac as its industry partner in the study which will focus on decarbonisation of the EnQuest Magnus Platform in the UK North Sea.

“An equity raise, using this platform, builds on the foundations we’ve already established, enables us to support the rapid growth we’re experiencing and means we can meet the huge demand for this clean energy solution. Geothermal – as a viable energy solution – is attracting significant interest across the globe. This equity raise will enable us to, not only, scale to meet this worldwide demand, but also to demonstrate that Geothermal is a real and serious player in the baseload clean energy mix.” said CeraPhi Energy Founder and CEO Karl Farrow.

Earlier this year, CeraPhi Energy became one of the more than 300 global brands that signed the Climate Pledge to commit to delivering net-zero carbon by 2040.

Source: CeraPhi Energy

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