Work on the feasibility study has already commenced, and is expected to be completed in approximately 12 weeks.
Greenvale’s technical team sees the CeraPhiWellTM proprietary patents as integral to unlocking the immense geothermal potential of its geothermal exploration permit application areas, specifically those in Longreach and the exciting Millungera Basin region.
Greenvale is taking bold steps to explore new sustainable energy technologies and opportunities, in parallel with the advancement of its flagship Alpha Torbanite Project (QLD). The Company’s commitment to finding an appropriate renewable energy source, is integral to unlocking the immense potential of Alpha. In line with this commitment, Greenvale has chosen Longreach as the pilot area for its geothermal energy strategy and will partner with CeraPhi Energy to assess the effectiveness of its proprietary patents for the CeraPhiWellTM down-hole heat exchanger system.
Moreover, the Queensland State Government’s recent takeover of the CopperString Project is a positive development for Greenvale. The Project runs through Greenvale’s EPG applications in the Millungera Basin, putting the Company in a favourable position to pursue geothermal opportunities in the area. The successful implementation of the Longreach Project is expected to pave the way for a larger-scale geothermal energy plant in the Millungera Basin, in line with the advancement of the CopperString Transmission Project.
Greenvale’s innovative approach and the adoption of new technologies position it as a significant challenger in the sustainable energy industry, with the potential to drive real change.
“We are very excited to be working with the CeraPhi Energy team. Not only will their skills and experience be of great benefit in advancing Greenvale’s geothermal project areas, but the option to utilise their proprietary patents will undoubtedly prove invaluable as our geothermal strategy advances,” said Mr Mark Turner, CEO of Greenvale.
“Mining companies face significant challenges in decarbonisation due to the remote locations that many of these activities are carried out in. The ability to produce energy from closed loop geothermal virtually anywhere, enables us to place the energy where it is needed reducing the requirement of significant transmission and distribution systems which are not always possible and extremely costly to install. The opportunity to work with Greenvale Energy on this project demonstrates the versatility of our closed loop geothermal approach and its ability to become an anywhere solution for everyone,” added Karl Farrow, CEO and Founder of CeraPhi Energy.
In parallel with the engagement of CeraPhi Energy, Greenvale has also lodged a formal connection enquiry with Ergon Energy regarding the potential for a geothermal energy plant at Longreach. Understanding the grid connection costs will allow Greenvale to assess the potential commercial pathways available better if the Longreach permit proceeds to development. The Greenvale team has also started investigating the possibility of private off-take partners for any power generated at Longreach.
