Short description
About Company
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Mission
Energeotek designs and builds geothermal power plants. The company's goal is to provide the possibility of building geothermal power plants everywhere, since now such power plants can only be built locally, in certain geothermal areas. Energeotek strives to facilitate obtaining the necessary licenses and documents for drilling and subsequent power plant operation.
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Strategy
With the support of a number of research centers, Energeotek constantly conducts studies in the field of the geothermal energy development potential in the European region. At the moment, the company managed to extract potential energy during drilling to a much shallower depth, which reduces the risk of drilling and costs and allows the use of this type of power generation in all regions. Energeotek is a member of the EnerCity™ project and is developing a model for the geothermal power plant construction in residential areas.
Company information
Energeotek was founded in Stockholm in 2011. The company is engaged in geothermal energy, developing technologies in the field of renewable energy sources in order to solve global environmental problems. Energeotek is an active member of the green energy community in the EU. Key achievements over the years of work include the NxGeo® technology development, which helps to significantly increase generation efficiency, and the implementation of projects to increase geothermal capacity .
With NxGeo®, geothermal power generation has been taken to a new level. Drilling to a depth of 2-6 km is enough to extract potential energy since water temperature of 55-130 °C is enough for moving power generation turbines, while the conventional geothermal power plants operate at a water temperature of 140-360 °C, which explains great risks and costs when drilling to a great depth or the mandatory placement of a power plant in favorable regions. Many geothermal regions are located in countries that do not have governing bodies for this type of activity, so construction is often impossible. The main advantages of geothermal energy over other types of power generation are the absence of toxic emissions and the ability to operate 24/7/365 regardless of weather or raw materials available. As part of the EnerCity™ project, the company plans to build geothermal power plants near densely populated areas to provide them with electricity, hot and cold water to meet the demand of industrial enterprises and households.
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Energeotek
Energeotek
Energeotek
INVESTMENT ANALYSIS
A study of Swedish market prices for electricity and central heating shows that the market has been stable for a long period of time, which reinforces the company’s optimistic expectations. In addition to the economic factor, political and regulatory factors are in effect, and they are also favorable—Energeotek operates in Sweden, a country offering the most comfortable conditions for investment and business, especially in the renewable energy sector. The company produces extremely beneficial energy superior to almost any other type. The main advantage of Energeotek is its production focus, which means that there are no additional costs other than maintenance and auxiliary equipment. This type of power generation is independent of raw materials and can work under any circumstances. Investments in Energeotek are profitable due to the already established agreements for the sale of generated energy. The technologies developed by the company help to significantly reduce construction costs and risks, which makes investments in geothermal energy more profitable. At the moment, the company begins construction of power plants according to the model developed for the EnerCity™ project. This event requires large investments. Most of the invested funds are used for drilling and power plant construction and development of technologies, and approximately 8% of the total investments are needed to maintain the existing power plants.