Arverne Group Strengthens Its Operational Capabilities for Deep Geothermal Projects

20 Dec 2024 08:30 CET

Issuer

ARVERNE GROUP S.A.

Regulatory News:

Arverne Group (FR001400JWR8, ARVEN), a French industrial company specializing in the production of renewable energy from underground resources, announces the receipt, by its subsidiary DrillDeep, of a new deep drilling rig, named B18.

Co-designed by Arverne Group and built by its German partner Herrenknecht Vertical¹, this new rig, with a capacity of 250 tons, will be used for deep geothermal operations, from 500 to 3000 meters in depth. Compact, it maximizes drilling performance safely, especially in an urban environment. Its innovative design also aims to reduce environmental impact through an optimized system for drilling fluid treatment and energy reuse.

This drilling rig thus complements the Group's operational fleet, which is a strategic asset that enables the development of all types of geothermal heat projects.

"This new state-of-the-art drilling rig strengthens our integrated industrial tool. The control over the availability of our own fleet of rigs allows us to accelerate our development by securing our future geothermal operations, aimed at producing local, renewable, and continuously available energy." says Pierre Brossollet, Founder and Chairman & CEO of Arverne Group.

Next publication: March 26, 2025, FY 2024 results (after Paris stock market closing time)

About Arverne Group

Arverne Group specializes in harnessing underground resources to transform them into environmentally friendly, local and renewable energy, contributing to the prosperity of local communities. As an integrated industrial player, Arverne Group spans the entire underground value chain, from exploration to drilling and production to sales to end-users. Arverne Group aims to become the French leader in geothermal energy and its by-products, including low-carbon geothermal lithium.
Founded in Pau in 2018, Arverne Group has structured its business activities around several subsidiaries, notably 2gré (sale of geothermal heat), Lithium de France (geothermal heat and extraction and sale of geothermal lithium) and Arverne Drilling Services (drilling operations).
A mission-driven company, Arverne Group is listed on Euronext Paris and is part of the Tech Leaders segment of Euronext Paris (ISIN FR001400JWR8, ARVEN).
www.arverne.earth

¹ Herrenknecht AG : world leader in tunnel boring machine manufacturing