TLS Geothermics successfully raised EUR 13.3 million
Company website snapshot
Alexander Richter
12 Sep 2022
French geothermal developer TLS Geothermics successfully raised EUR 13.3 million in funding from Noria and ADEME Investissement.
French geothermal development company TLS Geothermics has announced having successfully secured funding of EUR 13.3 million (ca USD 13.4 million) from Noria and ADEME Investissement. (full release in French) TLS Geothermics is focused on the exploration of high temperature deep geothermal deposits for all types of application (generator, heat, cold, recovery of metals including lithium, etc.). The TLS Geothermics project is anchored around an innovative approach for the exploration of geothermal systems by focusing on sites with geothermal potential without surface manifestation in so-called crustal fault zones. Geothermal energy is one of the rare sources of renewable energy that is not dependent on atmospheric conditions: permanently available and non-intermittent, it is complementary to other renewable energies for the transition to a carbon-free energy mix capable of replacing electricity production capacities. energy from fossil resources. Today, geothermal electricity often develops where it manifests itself visibly (active volcanoes, fumaroles and hot springs); however, it is estimated that over 75% of geothermal systems have no surface manifestation. Based on this observation, TLS Geothermics has been developing since 2013 a methodology and digital tools to identify areas favorable to geothermal energy outside the usual contexts. The areas targeted are so-called crustal fault zones: naturally fractured zones deeply rooted in the earth’s crust. The geological nature of these faults allows the circulation of geothermal waters, and their deep rooting induces convection cells that raise hot fluids to economically exploitable depths. As these areas are widely present in different geographies, this innovative approach would significantly increase the potential of high-temperature deep geothermal energy worldwide. TLS Geothermics has a portfolio of projects in mainland France and Martinique, including a first project in the Massif Central ready to drill (Geopulse). The fundraising should allow TLS to accelerate its development in mainland France, overseas, in the United States and in Germany.
It is also the recognition of the work carried out by our team and our partners for 8 years in prospecting and R&D in geology, geophysics and geochemistry. This is THE time to get geothermal energy off the ground! »
Christophe GUILLAUME , Chairman of Noria , says: “We were convinced of the pioneering and innovative nature of this exploratory approach applied to geothermal energy by Jean-Luc and Mathieu Auxiètre, father and son. The TLS Geothermics team has been able to identify a new way of developing geothermal power generation, particularly relevant for baseload electricity production. Noria is delighted to participate in the financing of TLS Geothermics, alongside Ademe Invest, to reveal and exploit these still unexplored geothermal potentials.”
Karine MÉRÈRE, Managing Director of ADEME Investissement , declares: “Deep geothermal energy is a non-intermittent renewable energy, a source of energy independence and which can contribute to the decarbonization and stability of the French energy mix. In the medium term, it also offers prospects for the extraction of strategic metals. We are therefore happy to contribute to this fundraising and to support TLS in the deployment of its innovative approach to geothermal potential. »
Noria is a family investment structure based in Lille/ France and committed since its creation in 2005 to the service of integral ecology. A long-term investor, Noria has invested in the capital and in the governance of some twenty companies, from the start-up or at a more advanced stage of development, with a resolutely specialized business approach, a factor of competence, experience and grounding. A majority of its holdings develop carbon-free energy production infrastructures (Kyotherm, Dualsun, Elements, NewHeat, Lhyfe, Waga Energy, Ciel & Terre International, LMK Energy, BW Ideol, Jimmy Energy and today TLS Geothermics).
ADEME Investissement was created in December 2018 as part of the Future Investments Program and is now part of France 2030, led by the General Secretariat for Investment. A company 100% owned by the State, it aims to finance innovative infrastructure projects in the field of energy and ecological transition alongside private players. Its vocation is to overcome the difficulties of financing units known as “commercial premieres”. It has a budget of EUR 400 million.
France 2030 is a French government investment plan:
- Reflects a dual ambition: to sustainably transform key sectors of our economy (health, energy, automotive, aeronautics or even space) through technological innovation, and to position France not only as a player, but as a leader in the world of tomorrow . From fundamental research, to the emergence of an idea, to the production of a new product or service, France 2030 supports the entire life cycle of innovation up to its industrialization.
- • Is unprecedented in its scale: EUR54 billion will be invested so that our companies, our universities, our research organisations, fully succeed in their transitions in these strategic sectors. The challenge: to enable them to respond in a competitive way to the ecological and attractiveness challenges of the world to come, and to bring out the future champions of our sectors of excellence. France 2030 is defined by two cross-cutting objectives consisting of devoting 50% of its expenditure to the decarbonisation of the economy, and 50% to emerging players, carriers of innovation without unfavorable expenditure on the environment (in the sense of the Do No principle). Significant Harm).
- Will be implemented collectively: designed and deployed in consultation with economic, academic, local and European players to determine its strategic orientations and key actions. Project leaders are invited to submit their file via open, demanding and selective procedures to benefit from the support of the State.
- Is steered by the General Secretariat for Investment on behalf of the Prime Minister.
Source: company release
