Daldrup & Söhne AG receives drilling order from Stadtwerke Neuruppin for the decarbonisation of the district heating supply

• Order volume of circa 5 mio. Euro

Oberhaching / Ascheberg, 19 December 2023 - Daldrup & Söhne AG (ISIN DE0007830572), a drilling technology and geothermal specialist, has received an order from Stadtwerke Neuruppin GmbH in Brandenburg to drill two geothermal wells, each with a depth of around 2,000 metres. The project volume amounts to around five million euros. The thermal water extracted from the boreholes with an expected temperature of around 70°C is to be fed into the existing district heating network in combination with high-temperature heat pumps. A thermal feed-in capacity of 76 GWh per year is calculated. This corresponds to the supply capacity for heating around 3,000 average four-person households. The wells are to be drilled from the 2nd quarter of 2024.

North German lowlands geologically highly attractive for geothermal energy

After Stadtwerke Schwerin, Stadtwerke Hamburg and the contract in Neustadt-Glewe, this is already the fourth district heating project for Daldrup & Söhne AG in the North German Plain within a short space of time. Local authorities are very interested in decarbonising their existing district heating supply with heat from geothermal energy. Daldrup is in negotiations with several municipalities to realise such projects.

The subsurface of the North German Plain, such as in Mecklenburg-Western Pomerania and Brandenburg, offers cities and municipalities optimal geological conditions for utilising geothermal energy. Advantages include Decarbonisation of the heat supply, independence from fluctuating coal, gas and oil prices, promotion of regional value creation.

About Daldrup & Söhne AG

Daldrup & Söhne AG (ISIN: DE0007830572, WKN: 783057) with a company history of more than 75 years is a specialised provider of drilling and environmental services and is positioned among the leading companies in Germany. Its activities are divided into the business areas Geothermal, Resources & Exploration, Water Extraction and Environment, Development & Services (EDS). In the Geothermal Energy business sector, drilling services are provided both for near-surface geothermal energy (especially geothermal probes for heat pumps), but above all also drilling services for deep geothermal energy of up to 6,000 m, in order to use the geothermal energy thus accessible for the generation of electricity and/or heat. In the Raw Materials and Exploration business sector, the wells drilled by Daldrup & Söhne AG are used for exploration as well as mineral raw materials and ores (e.g. copper and gold). This division also provides drilling services in the context of finding a safe final repository for nuclear waste. The Water Extraction business area includes well construction for the extraction of drinking, industrial, medicinal, mineral, boiler feed or cooling water as well as thermal brine. The business area Environment, Development & Services (EDS) comprises special environmental engineering services such as the hydraulic remediation of contaminated sites, the construction of gas extraction wells for the extraction of landfill gas, the construction of groundwater quality measuring points or the construction of water purification plants.

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

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