Partial Commercial Operation Commences at Geretsried Geothermal Project in Germany

The Geretsried Geothermal Project (the "Project"), a geothermal power generation and district heating initiative in Bavaria, Germany, jointly funded by Chubu Electric Power Co., Inc. ("CHUBU") and Eavor Technologies Inc. ("Eavor"), commenced partial commercial operation.

The Project is being developed through Eavor Erdwärme Geretsried GmbH ("Geretsried Project Company"), as previously announced on July 14, 2023.

This Project uses the closed loop geothermal technology (the "Eavor-Loop™ technology") to drill closed loops approx. 5,000 meters deep underground, circulating water in the closed loop to efficiently extract underground heat for electric power generated using an Organic Rankine Cycle (ORC) system, and for district heat supply.

By participating in the Project, CHUBU will acquire experience and further expertise in the geothermal business. At the same time, CHUBU intends to consider the future applications of the Eavor-Loop technology in Japan.

Hiroki Sato, Division CEO of Global Business of CHUBU, commented: "We are delighted that partial commercial operation has finally commenced at Geretsried. While this may appear to be a modest step for geothermal development, it represents a significant milestone for the energy industry and our planet as well. This achievement demonstrates the potential of next-generation closed-loop geothermal technology to transform the global energy landscape.
CHUBU is committed to supporting the continued growth of this project and the further advancement of the Eavor-Loop technology. Together with our project partners we look forward to deepening collaboration and driving innovation as we move forward on this transformative journey toward a decarbonized future."

Mark Fitzgerald, President & CEO of Eavor, stated that: "We are proud to announce the successful delivery of the world's first electrons generated from closed-loop multilateral wells. With Geretsried now on-stream, we're more confident than ever that our closed-loop geothermal system, designed for adaptability and suited to the world's diverse regions, will secure its place as the leading solution for commercial geothermal applications."

In CHUBU's global business, we will contribute to the realization of a decarbonized society and further increase earnings by optimally combining the four domains of (i) green business centered on renewable energy, (ii) blue business in relation to CCS or hydrogen business, (iii) retail, power transmission and distribution, and new services and (iv) frontier business.

Summary of the Project

Location	State of Bavaria, Germany
Output	Electric power generation: approx. 8.2MW District heating capacity: approx. 64MW
Construction Commencement	July 2023
Major Shareholding Company	CHUBU, Eavor, OMV

Equipment Configuration

Project Site Location

Current Site Condition

Project Completion Image