CeraPhi Energy and IGas launch geothermal development plan

The first project will be on an IGas site in the Lincoln area in England.

Direct heat produced will be used for agriculture, residential heat and cooling, and the development of hybrid energy systems, playing a vital part in the UK’s decarbonisation plans.

The two companies have agreed a Heads of Terms (HoT) to capitalise on CeraPhi’s patented technology, CeraPhiWell, a closed loop downhole heat exchanger, with IGas’s deep local knowledge, surface infrastructure and existing wells.

UK-based CeraPhi Energy Chief Executive Officer, Karl Farrow, said geothermal was a gamechanger in the drive to net-zero, filling the gap between wind and solar, producing reliable energy whatever the weather.

This pathfinder project will be used to demonstrate the commercial potential for geothermal energy production from repurposing existing oil and gas assets for direct heat for agriculture, residential heating/cooling and the development of hybrid energy systems generating both heat and power.

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