Daldrup & Söhne AG receives order from Oldenburg Baederbetrieb for geothermal drilling

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Daldrup & Söhne AG receives order from Oldenburg Baederbetrieb for geothermal drilling

• Order volume of around 5 million euros

Oberhaching / Ascheberg, July 17, 2024 - Daldrup & Söhne AG (ISIN DE0007830572), a specialist in drilling technology and geothermal energy, has received an order from the bathing operation of the city of Oldenburg (BBO), Lower Saxony, to conduct an exploratory and a doublet drilling with a drilling length of approximately 1,400 meters each. The project, which will be carried out in two phases, has a total order volume of around five million euros. The drillings are scheduled to begin in the 4th quarter of 2024. In western Lower Saxony, Oldenburg is a pioneer for a climate-neutral heat supply with the medium-depth geothermal project.

The Oldenburg public baths have set themselves the goal of operating the newly constructed year-round public baths independently of fossil fuels and with as little CO2 emissions as possible. The thermal water, with an expected temperature of about 50°C, shall be used in combination with large heat pumps to heat the new sports and health bath at the Oldenburger Floetenteich as climate-neutral as possible.

According to the "Geofakten 41" report published by the Lower Saxony State Office for Mining, Energy and Geology (LBEG) in April 2024, the number and total area of licensed fields for the exploration of geothermal energy in Lower Saxony have dynamically been increasing since 2022. According to the LBEG, this underlines the great interest in the implementation of deep geothermal projects. The Lower Saxony Climate Act (NKlimaG) and the Federal Heat Planning Act (WPG) require cities and municipalities to develop heat plans by June 30, 2026. Deep geothermal energy offers many cities and municipalities a suitable, volume-rich solution component for a baseload-capable, secure and economical energy supply for many districts and cities throughout Germany.

About Daldrup & Söhne AG

Daldrup & Söhne AG (ISIN: DE0007830572, WKN: 783057) with a company history of more than 75 years is a specialised provider of drilling and environmental services and is positioned among the leading companies in Germany. Its activities are divided into the business areas Geothermal, Resources & Exploration, Water Extraction and Environment, Development & Services (EDS). In the Geothermal Energy business sector, drilling services are provided both for near-surface geothermal energy (especially geothermal probes for heat pumps), but above all also drilling services for deep geothermal energy of up to 6,000 m, in order to use the geothermal energy thus accessible for the generation of electricity and/or heat. In the Raw Materials and Exploration business sector, the wells drilled by Daldrup & Söhne AG are used for exploration as well as mineral raw materials and ores (e.g. copper and gold). This division also provides drilling services in the context of finding a safe final repository for nuclear waste. The Water Extraction business area includes well construction for the extraction of drinking, industrial, medicinal, mineral, boiler feed or cooling water as well as thermal brine. The business area Environment, Development & Services (EDS) comprises special environmental engineering services such as the hydraulic remediation of contaminated sites, the construction of gas extraction wells for the extraction of landfill gas, the construction of groundwater quality measuring points or the construction of water purification plants.

The shares of Daldrup & Söhne AG are listed in the Scale (sub-segment of the Open Market of the Frankfurt Stock Exchange) and part of the Scale30 Index.

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