We are pleased to announce that the Energy Technology Development and Demonstration Program (EUDP) has awarded us 84 MDKK for the full-scale demonstration of our Heat4Ever solution in Aalborg, executed in close collaboration with Aalborg Forsyning (Aalborg Utility), among others.
The EUDP funding and the financial enablement of the project mark a significant milestone for Green Therma. The grant is based on a professional assessment by an independent panel of experts. That, in our view, is a strong endorsement of both our technology and the vision for which Green Therma was founded. Geothermal energy holds substantial and valuable potential as a stable and renewable source of heat. With the EUDP grant, Denmark holds the opportunity to advance geothermal district heating as an integrated part of the future green energy mix.
Green Therma's Heat4Ever solution offers a new and complementary technological pathway specifically adapted to Danish conditions. The solution is based on a single borehole and a closed-loop system, allowing for the establishment of geothermal plants with high flexibility and strong local scalability. At the same time, the patented DualVac technology contributes to a more efficient utilization of the Earth's natural heat. With Heat4Ever , we deliver a new geothermal concept that can synergize with other renewable technologies, helping to ensure a resilient heat supply across the country.
The project is scheduled to kick off in the second half of 2025, with completion targeted for 2027. Green Therma will establish, finance, operate, and own the facility. Green Therma and Aalborg Forsyning have entered into an agreement whereby Aalborg Forsyning will purchase heat from the plant for a period of 30 years, incorporating it into its overall district heating production. Through this agreement, we demonstrate that the Heat4Ever solution can be integrated directly into district heating networks without the need for additional temperature boosting, such as via a heat pump. The project is a collaboration between Green Therma, our project partners (Aalborg Forsyning, Aalborg University, Aarhus University, GEUS, and Energy Cluster Denmark), and various suppliers, including world-leading companies in drilling and well services, energy installations, geology, and academia.
Jørgen Peter Rasmussen, CEO, adds: "We are very proud to have received this support from EUDP. It reflects the fact that experienced experts trust in the potential that our innovative geothermal solution holds for district heating. And the potential extends beyond Denmark's borders. Our solution is designed to minimize most of the geological constraints that often pose challenges in geothermal projects. This means it can be deployed on a global scale, advancing renewable energy supply worldwide."
Green Therma will also provide ongoing updates as the project progresses.
About Green Therma:
Green Therma was founded in February 2023 by experienced Danish geologists with the purpose of revolutionizing geothermal energy for heat production worldwide. Our commitment to renewable energy and technological innovation is embodied in our groundbreaking geothermal technology and unique Heat4Ever solution. Our mission is to offer competitive, reliable, and renewable heating to industries, infrastructure, communities, and cities through deep geothermal energy with a minimal environmental footprint and very low emissions.
By utilizing a single, deep, and horizontally drilled well, we effectively harness the Earth's thermal energy within a closed-loop system. We employ the patented DualVac technology, which optimizes heat production in a safe, operationally friendly, and environmentally conscious solution designed to last for decades. Therefore, we have named our solution Heat4Ever .
