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Daldrup & Söhne AG Acquires Stake in Geysir Europe GmbH
D&S Geothermie GmbH in Ascheberg, North Rhine-Westphalia, which is a fully-owned subsidiary of Daldrup & Söhne AG, a publicly traded German geothermal drilling company, has acquired 51% of the shares in Geysir Europe GmbH, Munich by an issuance of new shares. Geysir Europe GmbH owns the project companies Exorka International Limited in Munich and Enex Power Germany GmbH as well as Enex Deutschland GmbH, both seated in Wolfratshausen, Bavaria. Geysir Europe GmbH is amongst the most important developers of geothermal projects in Germany. All in all, the entire Geysir Europe GmbH group holds 13 claims for the development of geothermal energy in the Bavarian Molasse Basin as well as in the Upper Rhine Valley. The contract value of the transaction is not disclosed. The management of the company will be carried out by Josef Daldrup, CEO and majority shareholder of Daldrup & Söhne AG, and by Curd Bems, CEO and co-founder of Exorka International Limited.
Both parties agree that the acquisition strengthens the project development. ”As partners, Geysir and Daldrup are in a better position to take advantage of the geothermal potential in Germany. Our technological advantage will prove beneficial in regards to the evaluation of claims in every development stage, to develop them and finally build and install geothermal power plants”, says Josef Daldrup. Daldrup & Söhne AG, is a listed company specialized in the planning and execution of drilling geothermal wells. Having drilled numerous geothermal wells in Germany and its neighboring countries, Daldrup brings additional expertise to the table.
Geysir Green Energy, a geothermal company headquartered in Iceland, which has invested more than US$650 million in geothermal projects since February 2007, is pleased about the alliance with Daldrup & Söhne AG.”This partnership offers new opportunities and adds to the local geothermal experience at Geysir Europe. Climate change challenges us to use renewable energies. We regard geothermal energy as the last area among the renewable energies – after water, wind, sun and biomass energy – where further development and expansion is possible on a large scale in order to solve our energy problem in a clean, secure and sustainable way. Through this partnership we are a strong team in the German market”, says Ásgeir Margeirsson, CEO of Geysir Green Energy.
Daldrup & Söhne AG wants to attain a strategic position in the German geothermal market by acquiring a share in Geysir Europe GmbH. The partnership with Geysir Europe GmbH and its subsidiaries Enex and Exorka is a key step for Daldrup & Söhne AG in order to cover a larger share of the geothermal sector in the future. This alliance presents a synergy effect for the two companies through the pooling of know-how in the areas of German project development experience and drilling technology. Geothermal power plants can essentially be operated over decades and guarantee secure and sustainable revenue from the sale of clean, base load electricity and heat.
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Further information regarding the geothermal activities of Exorka Int. Ltd. and drilling company of Daldrup & Söhne AG is available at www.exorka.com, geysirgreenenergy.com and www.daldrup.eu.