DGAP-News: Daldrup & Söhne AG receives order for geothermal drilling from Stadtwerke Schwerin

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Daldrup & Söhne AG receives order for geothermal drilling from Stadtwerke Schwerin

04.05.2018 / 09:20
The issuer is solely responsible for the content of this announcement.


CORPORATE NEWS

 

Daldrup & Söhne AG receives order for geothermal drilling from Stadtwerke Schwerin

- Substantial potential for geothermal energy in North German basin

Grünwald / Ascheberg, Germany, May 4, 2018 - The drilling technology and geothermics specialist Daldrup & Söhne AG (ISIN DE0007830572) has received an order for a geothermal drilling from Energieversorgung Schwerin GmbH & Co. Erzeugung KG (EVSE), a subsidiary of municipal energy provider Stadtwerke Schwerin GmbH (SWS), in northeastern Germany. The order has a value in the lower single million digit range. Operations will start the end of May 2018 in Schwerin-Lankow.

The drilling is projected to go into a depth of 1,250 metres. The project will be supported by the German state of Mecklenburg-Western Pomerania in line with the climate protection subsidy directive and the climate protection loan scheme. Stadtwerke Schwerin views geothermal energy as an important part of the sustainable and climate-friendly energy production needed to make Schwerin, the state capital of Mecklenburg-Western Pomerania, CO2-neutral by 2050. Around 15% of Schwerin's district heating will be provided from geothermal energy in the future.

"We are excited about supporting Stadtwerke Schwerin in reaching their goal of supplying CO2-neutral energy", says Daldrup & Söhne CEO Josef Daldrup. "This means Stadtwerke Schwerin will be less affected by the volatility of gas and coal prices while using local resources to provide base load power to local residents."

Daldrup & Söhne AG sees great potential for energy providers as well as commercial and industrial customers to fairly quickly generate relatively easily accessible geothermal from the North German basin. Daldrup & Söhne is already participating in several tenders in the region and is in negotiations with additional municipal energy providers and investors.

The water-bearing rock layers beneath the ground have a temperature of over
60 Celsius - for direct heat production - respectively of over 100 Celsius to ensure base load power generation. The North German basin contains parts of the states of
Mecklenburg-Western Pomerania, Brandenburg, Berlin, Lower Saxony, Hamburg and Schleswig-Holstein.

About Daldrup & Söhne AG
Daldrup & Söhne AG (ISIN: DE0007830572, WKN: 783057) with a corporate history spanning more than 70 years is a specialist provider of drilling and environmental services and ranks as one of the leading companies in Germany. Its activities are divided into the business divisions Geothermics, Raw Materials & Exploration, Water Extraction as well as Environment, Development & Services (EDS). The Geothermics business division provides drilling services for near-surface geothermics (especially geothermal probes of heat pumps), along with drilling services for deep geothermics up to 6000 m, in order to utilise the geothermal energy accessible in this way for electricity and/or heat generation. In the Raw Materials and Exploration business division, the bores made by Daldrup & Söhne AG serve for exploring and developing fossil fuel deposits (especially coal and gas) as well as mineral resources and ores (e.g. copper and gold). The Water Extraction business division comprises well construction for the extraction of drinking, service, curative, mineral, boiler-feed or cooling water as well thermal brine. The Environment, Development & Services (EDS) business division comprises special environmental engineering services such as the hydraulic clean-up of contaminated sites, the drilling of gas extraction wells for recovering waste dump gas, the provision of groundwater quality measuring points or the installation of water purification plants

The majority stake in Geysir Europe GmbH also gives the Daldrup Group its own fields of experience in the exploration of geothermal energy in the Bavarian Molasse Basin and in the Upper Rhine Plain. The existing project management and power station expertise means that all stages of value creation can be covered for a deep geothermics project.

The shares of Daldrup & Söhne AG are listed in the Scale (sub-segment in the open market of the Frankfurt Stock Exchange).

Disclaimer
This publication represents neither an offer for sale nor a call to submit a tender for the purchase or underwriting of securities. This publication and the information it contains is not intended for direct or indirect dissemination in or within the United States of America ("USA"), Canada, Australia or Japan.

Press & Investor Relations Contact:

Daldrup & Söhne AG
Falk v. Kriegsheim
Phone +49 (0)2593-9593-29
Fax +49 (0)2593-9593-60
Bavariafilmplatz 7 ir@daldrup.eu
82031 Grünwald/Geiselgasteig www.daldrup.eu




Contact:
Daldrup & Söhne AG
Falk v. Kriegsheim
Fon +49 (0)2593-9593-29
ir@daldrup.eu
www.daldrup.eu

Bavariafilmplatz 7
82031 Grünwald/Geiselgasteig


04.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Daldrup & Söhne AG
Bavariafilmplatz 7 / Gb. 32
82031 Grünwald/Geiselgasteig
Germany
Phone: +49 (0) 89 / 45 24 37 920
Fax: -
E-mail: info@daldrup.eu
Internet: www.daldrup.eu
ISIN: DE0007830572
WKN: 783057
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange

 
End of News DGAP News Service

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