Christopher Engman, CRO/CMO, Climeon Iceland Geothermal Conference 2018 - Breaking the Barriers 24 - 27 April, 2018, Harpa, Reykjavík

1. Christopher Engman, CRO/CMO
@chrisengman
christopher.engman@climeon.com
Why low temperature geothermal
heat power will become bigger
than high temperature
geothermal heat power?

2. 2 |
Low temperature
geothermal heat power
Low temp vs high temp
Standardized and small vs customized and large

3. Low temp vs high temp
Christopher Engman

4. 4 |
GEOTHERMAL HEAT POWER
– Renewable energy baseload with 24/7 uptime
Three types of geothermal resources
Traditional hydrothermal
Natural hot water or steam is extracted
from a reservoir to produce electricity
Coproduced fluids
Oil/gas wells can be
used for geothermal production
Engineered Geothermal Systems
Created geothermal systems,
e.g. HDR, closed loop
Christopher Engman
Low temp vs high temp?

5. 5 |
GEOTHERMAL HEAT POWER
– Renewable energy baseload with 24/7 uptime
Geothermal power systems
Steam plants, High temp
Steam >≈175 ˚C
Binary plants, Low temp
Water >≈80 ˚C
HYDROTHERMAL
COPRODUCED
EGS
Christopher Engman
Low temp vs high temp?

6. 6 |
HIGH TEMPERATURE – ”FLASH PLANTS”
– Renewable energy baseload with 24/7 uptime
High
temperature
TRADITIONAL GEO HEAT POWER
150–300°C heat. Edges of active tectonic
plate boundaries.
Christopher Engman
Low temp vs high temp?

7. 7 |
High
temperature
LOW TEMPERATURE – ”BINARY PLANTS”
– Renewable energy baseload with 24/7 uptime
Low
temperature
NEW MARKET 1
Below 120°C MAINLY district heating. 10% net
efficiency 90⁰C/20⁰C. 0.5-3 MW.
Christopher Engman
Low temp vs high temp?

8. ● (>120˚C) : about 500 wells
● (>90˚C) : about 7,200 wells
● (>60˚C) : about 53,000 wells
Christopher Engman
ALBERTA, OIL AND GAS WELLS
Low temp vs high temp?

9. 9 |
Low temperature
geothermal heat power
Old technology mainly addresses higher temperature heat
70ᵒC
120ᵒC
150ᵒC
500ᵒC
Christopher Engman
LARGE ADRESSABLE MARKET – LOW TEMPERATURE
GEOTHERMAL HEAT POWER
Low temp vs high temp?

10. Standardized and small vs customized and large
Christopher Engman

11. Christopher Engman
Standardized and small vs customized and large?

12. Christopher Engman
Standardized and small vs customized and large?

13. Christopher Engman
ECONOMIES OF SCALE
DELIVERY IN WEEKS INSTEAD OF 10-12 MONTHS
Standardized and small vs customized and large?

14. INCREMENTAL DEPLOYMENT
• Minimum equity investment needed
- Cash flow from first power plant is used for debt financing
- Low risk for the scale up, 95% less equity needed, low interest rate
Standardized and small vs customized and large?
Christopher Engman

15. MODULARITY – OPTIMIZED POWER PLANT CAPACITY
• Adapt to resource changes by adding or taking away modules
• Redundancy – always generating power (flow drop or one module being
serviced)
Standardized and small vs customized and large?
Christopher Engman

17. VARMAORKA, ICELAND, POWER + GREEN HOUSE, 125⁰C-95⁰C
7modules (pilot) 93modules
1MW Heat Power System for Geothermal application
Phase 1 Phase 2
LOW ELECTRICITY PRICES
Iceland has one of the lowest electricity prices in the world
Iceland as a competitive market
CENTRALIZED POWER PRODUCTION
Power on Iceland is mostly centralized with an
underdimentioned/undersized grid
PLENTY OF ENERGY CONSUMING INDUSTRIES
Many remote industries with insufficient access to power
Return water
<50°C
Heat source
90–120°C
District heating
50–80°C

18. KIRCHWEIDACH, GERMANY, POWER + GREEN HOUSE +
DISTRICT HEATING, 2.4 MW
Christopher Engman

19. WENDEL – RENO, USA, RE-POWER PROJECT, 99⁰C
Christopher Engman

20. BOREALIS GEOPOWER, VALEMOUNT, BRITISH
COLUMBIA, CANADA, 1.000 INHABITANTS
Christopher Engman

21. Christopher Engman

22. 22 |
WWF – Climate Solver 2016
Swedish Energy Agency – ”The biggest energy innovation
in 100 years”
Frost and Sullivan – ”The best technology in its category”

23. 23 |
Low temperature
geothermal heat power
Low temp vs high temp
Standardized and small vs customized and large

24. Christopher Engman, CRO/CMO
@chrisengman
christopher.engman@climeon.com