UK geothermal firm launches U.S. business with focus on Texas
UK-based geothermal developer CeraPhi Energy has launched its U.S. business with a focus on Texas and the its technology of closed-loop approach to deriving energy from abandoned oil wells.
In a release shared today, UK-based integreated geothermal development company CeraPhi Energy, announces having incorporated in the United States. The company is targeting Texas, as well as other major geothermal prospect in the U.S.
CeraPhi Energy aims to unlock geothermal energy potential under a scalable technology platform, described as “plug and play”. The company has patented technology, innovation and best practices from its oil and gas experience to fill the gap in renewables between wind, solar and other green energy production and help complete the sustainable energy picture.
Its new base in Houston, Texas, puts it at the centre of a high-growth region where more than 6,200 oil and gas wells lie abandoned, representing a significant environmental and economic liability on companies.
CeraPhi’s patented and trademarked CeraPhiWell (TM), a closed loop vertical, long-life, cost-effective technology, draws heat up from old wells, extending well life and generating clean energy for decades.
The business’ focus is on heat transfer and the geothermal ‘cascade’, creating efficient off-grid energy solutions like heating and cooling for cities and districts, replacing coal and gas-fired electrical production.
Repurposing old wells removes the need for costly plug and abandonment and decommissioning while supporting clean energy transition and the de-carbonisation of sites through co-generation.
Ceraphi founders combine more than 130 years’ experience in oil and gas engineering, subsurface modelling and topside expertise, in-house risk mitigation and management, and both conventional open and closed loop geothermal applications.
“We are extremely excited to introduce our expertise and technology in the US. Our pipeline of projects currently covers the UK, Europe, Caribbean and Latin America, and we are viewing the US as a high growth region for the business”, so CeraPhi Energy CEO Karl Farrow, who has more than 30 years’ oil and gas experience. “Geothermal is cost-effective, secure and independent, off-grid and on-grid. It is never dependent on weather or influenced by external energy prices so it has a key role in the ongoing energy transition. It should be embraced by all if we are to achieve zero carbon baseload energy for electric, heat, cooling and other essential purposes,” he said.
The geothermal cascade can also provide solutions for hydrogen production, power distribution, desalination, battery charging, EV charging networks, food drying and green house agriculture.
Farrow said the 6,200 abandonned wells in Texas created a “significant environmental and economic liability on companies and citizens of the state.”
“By one estimate as much as $117 billion dollars,” he said.”The CeraPhi well reduces cost and risk and creates productive economic value from tapping geothermal resources.
Studies indicate that there are as many as four million abandoned wells in the US and Canada, and that methane emissions from these wells are a significantly underestimated environmental concern.
CeraPhi technology can help resolve the environmental issues and turn the wells into productive sources of heat, cooling and electricity.
“CeraPhi geothermal applications will create independent energy resources and create jobs in a rapidly transitioning industry,” Farrow said.
“With its well-trained workforce, oil and gas experience, extensive infrastructure and advanced education in energy, Texas is ideal for expansion of geothermal energy.
The “highly skilled, talented and focused” CeraPhi Energy team will deliver an energy source that is “non-interruptible and virtually infinite once it is tapped,” Farrow said.
“Our operational excellence encompasses engineering and management, specialist subsurface and topside modelling, innovative novel approach patented systems, proprietary innovation and technology. A major focus is avoiding significant commercial risk in exploration drilling costs.”
CeraPhi Energy’s CeraPhiPro™, a process management technology, coordinates project activity and operational technology, de-risking and offering proven delivery of geothermal development activity.
Farrow said CeraPhi was keen to be part of the solution to the Texas energy crisis and breakdown in the state’s power network.
“We recognise the unprecedented nature of what has occurred in Texas in the last few weeks, and are eager to be part of the solution.
“Geothermal energy is clean base-load and non-interruptible. It creates jobs, provides economic benefit, resilience and independence. We are confident that deploying geothermal options will dramatically strengthen Texas’s role as a leading global energy producer.”
Source: company release by email