Jørgen Peter Rasmussen
Founder and Chief Executive Officer
Jan Kauffmann
CFO & CSO (Chief Strategy Officer)
Nikolaj Holmer Nissen
Chief Operating Officer (COO)
With the Dual Vacuum Pipe technology (DualVac) our mission is to change the use of deep earth heat worldwide by providing affordable and reliable heat to society with a minimal environmental foot print and virtually zero emissions through our Heat4Ever solution.
The heat flowing from the inner core to the surface of mother earth is a great source of energy. The inner solid core has temperatures of 5,000-6,000 degree Celsius. Flowing constantly from the core towards the surface, this heat is an everlasting source of energy.
In 2020, the Norwegian drilling technology company, Reelwell started to investigate geothermal wells. The history of the multi-well systems, where water circulates through the subsurface to generate hot water for heating or electricity has failed many times, and the geological risk is substantial. It works some places, but often it fails due to tight geological formations, pollution of the water as it runs through the formation, seismic activity from the pumping of water into the formation and simple poor understanding of the drilling processes.
Rystad Energy said. “The day the oil service industry gets interested in geothermal energy, the right solutions will be developed, and the business will grow rapidly into a massive energy business of billions of dollars in very few years.”
Reelwell have patents for pipe in pipe drilling and the ideas have been used as completion technology for oil wells. What if this could be used in geothermal wells? And at the same time, we have substantial experience in the oil business with horizontal wells, that has dramatically changed the productivity of oil fields. Thousands of horizontal wells are successfully drilled each year on land exploring shales around the world.
With this in mind Reelwell was inspired to develop technology generating energy from a closed pipe in pipe system, where the water is only moving inside pipes using standard oil type tubing pipes. As the water gets to the toe of the horizontal well section, it returns through the inner pipe to surface. The patented DualVac technology enables us to maintain the temperature on this journey.
The energy generated from a 3-4 km deep and 5 km horizontal well depends on the temperature of the formation, the heat conductivity of the formation and the flow of the water through the pipes. But enough energy for heating 1,500 homes can easily be generated from a single well with no pollution, limited geological risk, standard well design, and patented technology for the pipe in pipe system.
Together with the key investors and management in Reelwell, Carl Emil Larsen, Ola Vestavik, Kim Gunn Maver and Jørgen Peter Rasmussen founded a new company in Denmark based on this business idea. The vision is to become a new geothermal, deep earth heating solution company. The mission is to serve district heating companies, private companies needing heat for their business and for a global roll out of this unique concept, the Heat4Ever solution and the DualVac technology.
This is the start of Green Therma.
Denmark is a great place to start such a company. Not only because we live here, but also because the Danish geology is ideal for this concept, the political interest in CO2 free energy is strong and the goal is to have a district heating system supplying 75% of the population. Geothermal energy can provide the base load and exactly where the end-user needs it.
We are building a completely modern company. A company with great industrial partners, who are strategic and where the combined skills of all of us are a phenomenal force. Green Therma is a project company. We deliver completed geothermal wells as an integrated project management company. We service our clients, who operates the wells.
We will also offer our DualVac technology to other geothermal companies in the world.
This is modern technology offered as flexible solutions providing long term stable energy delivery, that is cheaper than other geothermal solutions, and it can be constructed where the heat is needed.
Yes, 12-15 wells in a star shape can provide energy to a medium sized city. 2-3 wells serves a small city in the countryside, 50 wells serve a major city. 2,000 wells will give Denmark CO2 free heating. The geothermal wells will supply heat for 100’s of years. Green Therma heating to “infinity and beyond”.
We look forward to re-writing history of geothermal energy with our Heat4Ever solution. We look forward to servicing you.
Copenhagen, 17 February 2023
Founder and Chief Executive Officer
Automatikvej 1
2860 Søborg
Denmark
CVR: 43858076
