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targeo

A shallow geothermal solution delivering carbon-free heat to residential customers and businesses

September 2020
Gallery targeo 1
Gallery targeo 1
01.

Identification

The residential heating market in Europe is not based on renewable energy; clean energy alternatives are needed in order to address the global environmental crisis.

Seeking to achieve a successful transition to cleaner energy systems, targeo provides to heat transition players/local utilities/Stadtwerke a regional analysis to identify the best potential geothermal clients in their region outside their current customer base. It allows to address this client in groups and make campaign installations to leverage scaling effects. It also gives an overview of CO2 emission in their region, per building, and a way forward to decrease them. This solution relies on the process of data about the underground and geothermal potential, the characteristics of buildings and their demand, and the existing infrastructures; thanks to a precise GIS approach. In addition, targeo works as a geothermal expert office realizing all the subsurface infrastructure turn-key in a contracting model including planning, permitting, drilling and operation.

Label Date September 2020
Parent Company Engie
From Germany
Maturity stage Prototype testing 1:1 in the lab
Looking For Network, Visibility, Partners, Credibility

Sectors - Value chain - Application

Sectors
Applications
Package & Distribute
Use & Efficiency
Valorize & Restore
Value Chain Steps
02.

The environmental benefits

  • Replacing every gas heating system in Germany, which represent 48,2% of 40M housings, by a geothermal system powered by renewable energy would save 60 million of tons of CO2 per year
  • Replacing all 18 Mio oil boilers in Europe with geothermal heat pumps powered by renewable energy would save 90 million tons of CO2 per year
03.

The Financial benefits

  • A targeo analysis will show you thousands of new potential clients, if less than 100 installations are realised, you will have your money back, all the rest is profit
  • With a cunsumer heat price of 92 €/MWh, a one time connection fee of 3.800 € and power prices around 165 €/MWh you can end up with a net cash generated of 1,7 Mio € serving 500 clients over 15 years
04.

Activity Region

  • /

Europe

Germany,

  • Headquarters
  • Activity
05.

Company Profile

STORENGY

Storengy is one of the largest natural gas storage companies in Germany, also developping geothermal projects.

View company profile
Headquarters 10117 Berlin, Germany
06.

Parent Company

Engie

As a major stakeholder in the international energy industry, ENGIE is focused on its 3 core businesses of Electricity, Natural Gas and Energy Services to support and develop a new vision of energy for the world: sustainable energy available to everyone.

View company profile
Headquarters 92400 Courbevoie, France
07.

Related Topics

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The information set out above, is solely for the purposes of information and the Solar Impulse Foundation does not provide any guarantee as to its authenticity, completeness or accuracy. This information does not constitute investment advice or a recommendation to buy into, transact or to enter into any agreement with any of the parties or persons mentioned above. Potential investors or interested parties are solely responsible for their investment or business decisions and for performing any due diligence required by the circumstances.