The Swedish investment entity - Baseload Capital, which specializes in funding and deployment of clean heat power solutions worldwide, is realizing a joint project in the oil and gas industry with Munich-based company, Orcan Energy, the leading waste heat solutions provider in Europe and Asia with over 500 ORC plants installed internationally.
Orcan‘s ORC systems will be used to convert previously unused geothermal heat from oil and gas production into CO2-free and low-cost electricity. Together with a Baseload Capital industry partner, a reference project will be developed in the U.S. as a first step in a promising application.
Affordable and secure energy transition
“It is great to see, that our technology and products provide the key to tap another huge field of unused energy, in this case, geothermal heat in the oil and gas extraction process,” says Andreas Sichert, CEO of Orcan Energy, adding “This project and its follow-ups will contribute to an affordable and secure energy transition towards a net-zero future.”
decentralized modules
In May 2021 Orcan Energy first entered the U.S. oil and gas market in cooperation with ICE Thermal Harvesting LLC
Orcan’s decentralized modules have already proven themselves in the oil and gas environment, through a reference in the respective segment in Germany. In May 2021 Orcan Energy first entered the U.S. oil and gas market in cooperation with ICE Thermal Harvesting LLC.
After signing a major order with the U.S. supplier follows second cooperation, further establishing Orcan’s technology in North America.
reducing cO2 emissions
“The world cannot yet live without oil, but by taking advantage of an existing green energy source, we can reduce its CO2 footprint. If the project is as successful as we anticipate, it will be the first of many successful joint projects,” says Baseload Capital CEO, Alexander Helling.
Based on the results of the project, Baseload Capital will be able to evaluate the potential of developing similar projects at sites across the U.S.