Highlights
- Collaboration on innovative projects to deliver low-carbon heat and cooling to commercial and industrial facilities
- Baker Hughes technology to be deployed at CAUSEWAYGT's demonstration project in the West Firsby oil field
- Companies will work together to develop geothermal heat systems technology, particularly subsurface and wells components
CAUSEWAYGT, a renewable energy company founded in the Republic of Ireland, and Baker Hughes have signed a Memorandum of Understanding ("MOU") to collaborate on geothermal projects and technology development designed to deliver low carbon heating and cooling for commercial and industrial facilities and processes. The companies' work will be initially focused in the Republic of Ireland and the U.K.
Baker Hughes will explore the use of its wells services and products, project management, subsurface assessment, digital technology services, and further applicable technologies to support CAUSEWAYGT's geothermal projects. The companies also plan to deploy Baker Hughes's technology in CAUSEWAYGT's demonstration project to supply clean heat in the West Firsby oil field operated by Europa*. If successful, the project will prove the operational ability to extract and use geothermal heat throughout Europe.
CAUSEWAYGT will act as coordinator of geothermal energy development opportunities and will market integrated solutions with Baker Hughes technologies toward relevant customers, providing systems design and project management. CAUSEWAYGT will also lead technology development projects and associated academic and industry opportunities to jointly promote geothermal growth for both companies.
"This is a powerful partnership for CAUSEWAYGT as we aim to deliver sustainable geothermal heat for commercial and industrial purposes and develop technologies to expand the application of geothermal in industrial heat processes." said Niall McCormack, M.D. and Chief Executive of CAUSEWAYGT. "Baker Hughes has been a leader in geothermal for many decades and the opportunity to work with such an accomplished organisation in the development and deployment of closed loop geothermal systems for our customers is a hugely exciting step."
"At Baker Hughes, we know that success in geothermal development requires collaboration, and no one organization can do it all on its own," said Ajit Menon, vice president for geothermal at Baker Hughes. "Baker Hughes has had positive past experiences with CAUSEWAYGT, giving our teams the ability to align quickly. CAUSEWAYGT boasts an impressive vision to expand the utilization of geothermal energy for heating commercial buildings and industrial processes while mitigating carbon emissions. We support that vision, and our ability to expand the geothermal economy through these agreements and using the best technologies is a crucial step in Baker Hughes's work to accelerate the energy transition."
Baker Hughes has more than 40 years' experience in geothermal energy with projects in more than 27 countries across five continents, including the U.K. and Europe. The company's geothermal portfolio includes technology and services ranging from reservoir feasibility and subsurface characterization, complete well construction solutions, digital integration, power generating turbomachinery and capabilities for horizontal integration in all aspects of geothermal project development.
About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions for energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward - making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
About CAUSEWAYGT
CAUSEWAYGT is a renewable energy company on a mission to harness critical, clean geothermal energy, everywhere. We do this by developing cutting-edge technology, working in balance with nature to provide locally sourced, clean, 24/7 heat for industrial and commercial customers. Visit us at: CAUSEWAYGT.com
*West Firsby is an oil field in Lincolnshire, UK operated by Europa Oil & Gas (Holdings) Plc. CAUSEWAYGT has an MOU with Europa Oil & Gas to carry out studies to assess the potential of West Firsby as a test site for sustainable, clean geothermal energy systems.
Contact:
Media Relations
Baker Hughes Media Relations:
John A. Barnes
+1 (832) 206-0841
John.Barnes@bakerhughes.com
CAUSEWAYGT
Media Relations:
Doug Keatinge
+353 86 0374163
dkeatinge@murraygroup.ie
