ZeroGeo commences aerial survey for geothermal potential of Lower Saxony, Germany
Bell Geospace will provide the aircraft for the Projekt THERMO aerial survey (source: ZeroGeo Energy)
Carlo Cariaga
16 Nov 2022
The aerial gravity and magnetics survey to evaluate the geothermal potential of Lower Saxony, Germany is set to commence by mid to late November 2022.
ZeroGeo Energy GmbH (ZeroGeo) has announced the commencement of an Air-FTG full tensor gravity and magnetics survey of an area of 5,000 km.2 in Lower Saxony, Germany. The purpose of the exploration project, called Projekt THERMO, is to evaluate the potential for geothermal power generation in the region with a potential by-product of heat production.
We first reported on the plans for this project in early October. This update indicates that the survey will commence by mid to late November and will be completed by mid-December 2022. Processed ans interpreted data are expected by late January 2023. This will then allow ZeroGeo to evaluate the geothermal energy potential in the area and plan the next steps for the safe and successful exploration, appraisal, and development of Lower Saxony’s geothermal resource.
ZeroGeo has contracted with Bell Geospace to fly the Survey, with the Basler BT-67 plane due to arrive in Hildesheim, Germany in the coming days.
More details on the survey, including a live tracker of the survey aircraft, are available on the Projekt THERMO website.
Joint venture with OMV
ZeroGeo is is joint venture partners with integrated oil, gas, and chemicals company OMV for this project as part of a larger collaboration for geothermal projects in Germany and Switzerland.
OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest. We had earlier reported on the efforts of OMV to extract geothermal energy from an old natural gas well in Aaderklaa, Austria.
ZeroGeo Capital Raise and Development Plans
ZeroGeo, in conjunction with Hannam & Partners (its financial adviser), has commenced a capital raise process and has an open invitation for parties who wish to participate in the capital raise, to purchase the Survey data or to farmin to ZeroGeo’s prospects to contact either the Company or Hannam & Partners.
“We are very excited to have started our exploration of the geothermal potential of the North German Basin in Lower Saxony. By deploying the Air-FTG® technology for the first time in Europe to explore for geothermal resources, ZeroGeo is starting as we mean to continue, by defining new paradigms to unlock the enormous geothermal energy resources beneath our feet. We believe there is sufficient potential to develop industrial scale baseload geothermal power production in the region and we are committed to exploring and developing this green energy resource in a sustainable way for the benefit of the local community and Germany as a whole. We have an open invitation to those parties who wish to join us in this exciting venture.” said ZeroGeo CEO John Ashbridge.
Sources: Email correspondence
