23 Sep Greenstorc Goes for Growth
We are delighted to embark on the next stage of the Greenstorc journey.
Using Renewable Energy Loan Notes, £1 million has already been raised – with another £1.5 million pledged for manufacturing capacity expansion.
It’s exactly what we need to build a solid manufacturing and asset base for Greenstorc technology, starting with our first dedicated plant in Sonsbeck, Germany.
From this resilient foundation, we can expand our manufacturing and deployment capacity with a key focus on sustainable development.
We grow into our role as a revenue-generating heat-to-power company offering green sustainable technologies where they are needed most.
First step – feasibility
Our first capital raise of £1 million happened in a matter of weeks. This followed an initial seed investment earmarked for site preparation, feasibility study and installation of a 25kWp testing device at our Sonsbeck site.
Feasibility results are now in – and they’re all positive. Our chosen site has optimum conditions for a shallow geothermal ORC installation. Soil has good thermal conductivity. And the high groundwater table has strong, stable flow rate and a temperature of 14.3C.
In a nutshell, we’ve found a sustainable supply of geothermal heat that will enable us to create clean, constant, affordable energy.
We do this by marrying two types of technology:
- ORC heat-to-power technology.
- Renewable heat technology in the form of our enhanced geothermal system.
Oh, and we can export it to the grid for 20 years at a tariff of (euro) 0.252kWh.
We’re pretty happy about that.
Second step – locking in
Next, we install a geothermal heat exchange system and connect it to our 25kWp unit – the final stage of the feasibility process.
At this point, the installation will be connected to the grid and already generating revenue. Critically, it will also lock in all activity permits until 2038. Armed with the crucial data we need to calibrate our standard 100kWp units – the core of our power generation – we can move ahead with confidence.
Completion of the 25kWp installation at Sonsbeck is now only weeks away, placing us slightly ahead of schedule. Which is where we always aim to be.
Third step – scaling up and bedding down
So, what’s next? We establish between two and four 100kWp units on the Sonsbeck site. Each will connect to the grid and produce an income in its own right, ensuring a return on further Meadow Group investment.
Analysis of live data from our 25kWp installation will contribute to optimum unit deployment.
These grouped 100kWp units will then create an essential, data-driven blueprint to help us build a complete 10MWp Greenstorc heat farm.
Once data from the 100kWp cluster of units comes in, we can power ahead with manufacturing, deployment and system integration of our renewable heat to power devices. All permits are already in place.
This will take a few months to achieve. But they’ll hardly be wasted. We’ll use the time to streamline our supply and manufacturing process – ready for full heat farm deployment
Growth to 2019 and beyond
Greenstorc raised £1 million in 2018 and has big plans to source further investment for operational activities and market expansion.
The ultimate goal is to develop our manufacturing and deployment capabilities to achieve sustainable global growth.
Blue Water Capital and our legal team Rotthege Wasserman will act as investor trustees and monitors to ensure we meet our twin targets – sustainable growth and investor returns.
Keeping it real
In conclusion, the future looks . . . green.
Yet a truly green future depends on getting everything right.
It starts with support from outstanding companies; depends on absolute quality assurance; then culminates in a new generation of green sustainable technologies set to enrich the lives of struggling communities worldwide.
Which all leads me back to the most important statement of all:
Thank you very much for your support.
Paul Flynn, Greenstorc CEO.