Regulatory News:
A subsidiary of Arverne Group (Paris:ARVEN), an industrial player specializing in the production of renewable underground energy, DrillHeat announces that it has reached 55,000 meters of geothermal probes installed in France. These probes, laid at depths of 100 to 200 meters, allow DrillHeat's partners to heat and cool buildings using the natural heat of sub-surface.
With its fleet of six drilling rigs three of which were acquired since the beginning of 2024 DrillHeat has become, in less than two years, the shallow geothermal drilling company with the largest number of rigs in France.
142 probes have been laid since the beginning of the year, and nearly 400 since DrillHeat's first installations in October 2022, on construction sites such as the municipal gymnasium in Sarliac-sur-L'Isle, the office building for Icade Promotion Tertiaire, and the energy renovation of the Institut Agro campus in Montpellier, in partnership with Dalkia. All the installed probes are integrated into a diverse range of installations capable of producing nearly 7 GWh of decarbonized heat each year, equivalent to the consumption of 350 buildings of 100m²*.
Many new projects are already planned for the coming months for various type of activities: school groups, municipal swimming pools, residential facilities for the elderly, and commercial buildings. The commercial momentum is clearly confirmed and underway.
Pierre Brossollet, CEO of Arverne Group: "I am proud of the milestone reached by DrillHeat. This success is the result of the hard work of the entire team, which actively contributes to the decarbonization by installing geothermal probes throughout France. Arverne Group will continue its development to promote, for the energy transition, the renewable underground resources that are still underutilized today
*Estimate based on figures from ADEME on building consumption
A propos d'Arverne Group
Arverne Group specialises in harnessing underground resources to transform them into environmentally friendly, local and renewable energy, contributing to the prosperity of local communities. As an integrated industrial player, Arverne Group spans the entire underground value chain, from exploration to drilling and production to sales to end-users. Arverne Group aims to become the French leader in geothermal energy and its by-products, including low-carbon geothermal lithium.
Founded in Pau in 2018, Arverne Group has structured its business activities around several subsidiaries, notably 2gré (sale of geothermal heat), Lithium de France (geothermal heat and extraction and sale of geothermal lithium) and Arverne Drilling Services (drilling operations).
A mission-driven company, Arverne Group is listed on the professional segment of Euronext Paris and is part of the Tech Leaders segment of Euronext Paris (ISIN FR001400JWR8, mnemonic ARVEN).
www.arverne.earth
A propos de DrillHeat
Operated and 50% owned by Arverne Group, DrillHeat positions itself as a key player in building decarbonization through shallow geothermal energy. DrillHeat conducts geothermal probes drilling at depths ranging from 100 to 200 meters, enabling buildings to be heated and cooled using a geothermal heat pump.
www.drillheat.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20240619264124/en/
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