Strada secures funding for tests of new fluid hammer operating system for geothermal drilling
Focused drilling technology company Strada has secured new investments to help complete testing of its fluid hammer operating system (FHOS) that is aimed at enable drilling of deep wells unlocking previously inaccessible sources of geothermal energy.
In a release this week, Strada, an innovative technology company specialising in deep drilling, announced that it has secured new investment to complete the testing of its unique, patented, Fluid Hammer Operating System (FHOS). Once testing is completed, it is anticipated that Strada’s system will enable deep drilling, that could unlock previously inaccessible sources of geothermal energy, in any terrain. It is believed that the technology could also be applied for critical infrastructure projects that require deep drilling that is safe, fast and affordable.
Ben Strange, CEO for Strada, commented: ‘We are absolutely delighted that we have secured this new investment, and are able to now complete our testing. At times we have had a difficult path to get here, but we remain absolutely convinced that our technology, when tested, is going to open the up our ability to access geothermal energy across the globe. We are incredibly grateful to our investors and our fantastic technical and operations team, who all share our vision for the future.’
The company has been active in the market and has been working on this technology among others at a geothermal project in Finland.
Source: Company release