UK Firm CeraPhi Energy Launches Funding Round to Raise £12.4 Million
Credit: Ryan Duff, from Energy Voice, Supplied by Enquest
The Great Yarmouth-based end-to-end advanced closed-loop geothermal business, CeraPhi Energy, has announced the launch of a £12.41 million funding round as it prepares for growth.
The firm took to JUSTLY as it looks to raise capital through its US platform with plans to expand its operations overseas.
The company was founded in June 2020 as the first company in the UK to offer a complete end-to-end geothermal energy solution.
End-to-end, closed-loop technology is designed to fit into old wells to extract heat from deep underground by a downhole heat exchanger.
It is undertaking a study funded by UK Net Zero Technology Centre in partnership with Petrofac to evaluate whether oil and gas wells in the North Sea can be repurposed for geothermal energy.
Credit: Energy Voice, 08/15/22