Daldrup & Söhne AG, DE0007830572

Daldrup & Söhne AG, DE0007830572

09.04.2018 - 07:05:35

Daldrup & Söhne AG: Stadtwerke München expand order to commission six deep geothermal drillings for a geothermal power plant

CORPORATE NEWS

 

Daldrup & Söhne AG: Stadtwerke München expand order to commission six deep geothermal drillings for a geothermal power plant

 

- Drillings are part of Munich's municipal utility plan to provide district heating from 100% renewable energy sources

Grünwald / Ascheberg, Germany, 9 April 2018 - The drilling technology and geothermics specialist Daldrup & Söhne AG (ISIN DE0007830572) has a received a major additional order for the extraction of geothermal energy from Munich-based energy provider Stadtwerke München (SWM). The order carries a value in the upper single-digit million euro range. The additionally commissioned doubler drill (production and injection drill) is connected to the drillings commissioned by SWM in the spring of 2017 (see press release of May 3, 2017). The drillings will go into a depth of 4,000 metres. Preparations for the initial two doubler drills are currently underway on the site of Munich's oldest conventional thermal power station HKW South, which is located in Munich's Sendling district. Drilling is projected to start within the next couple of weeks. The plan is for the new geothermal power plant to produce approximately 50 MW of environmentally friendly district heating for around 80,000 Munich households. The new plant is expected to go online in 2020.

The now six geothermal drillings to be undertaken by project partner Daldrup & Söhne are part of SWM's ambitious plan to make Munich Germany's first major city to generate 100 percent of its district heating from renewable energies by 2040. The biggest portion of that heating is to be generated by hot thermal water. Munich is located on top on top of vast supplies of this environmentally friendly energy source, which is contained in easily permeable layers of limestone that are part of the geological layers underneath the city.

About Daldrup & Söhne AG Daldrup & Söhne AG (ISIN: DE0007830572, WKN: 783057) with a corporate history spanning more than 70 years is a specialist provider of drilling and environmental services and ranks as one of the leading companies in Germany. Its activities are divided into the business divisions Geothermics, Raw Materials & Exploration, Water Extraction as well as Environment, Development & Services (EDS). The Geothermics business division provides drilling services for near-surface geothermics (especially geothermal probes of heat pumps), along with drilling services for deep geothermics up to 6000 m, in order to utilise the geothermal energy accessible in this way for electricity and/or heat generation. In the Raw Materials and Exploration business division, the bores made by Daldrup & Söhne AG serve for exploring and developing fossil fuel deposits (especially coal and gas) as well as mineral resources and ores (e.g. copper and gold). The Water Extraction business division comprises well construction for the extraction of drinking, service, curative, mineral, boiler-feed or cooling water as well thermal brine. The Environment, Development & Services (EDS) business division comprises special environmental engineering services such as the hydraulic clean-up of contaminated sites, the drilling of gas extraction wells for recovering waste dump gas, the provision of groundwater quality measuring points or the installation of water purification plants.

The majority stake in Geysir Europe GmbH also gives the Daldrup Group its own fields of experience in the exploration of geothermal energy in the Bavarian Molasse Basin and in the Upper Rhine Plain. The existing project management and power station expertise means that all stages of value creation can be covered for a deep geothermics project.

The shares of Daldrup & Söhne AG are listed in the Scale (sub-segment in the open market of the Frankfurt Stock Exchange).

Disclaimer This publication represents neither an offer for sale nor a call to submit a tender for the purchase or underwriting of securities. This publication and the information it contains is not intended for direct or indirect dissemination in or within the United States of America ("USA"), Canada, Australia or Japan.

Press & Investor Relations Contact:

Daldrup & Söhne AG Falk v. Kriegsheim Phone +49 (0)2593-9593-29 Fax +49 (0)2593-9593-60 Bavariafilmplatz 7 ir@daldrup.eu 82031 Grünwald/Geiselgasteig www.daldrup.eu

Contact: Daldrup & Söhne AG Falk v. Kriegsheim Fon +49 (0)2593-9593-29 ir@daldrup.eu www.daldrup.eu Bavariafilmplatz 7 82031 Grünwald/Geiselgasteig

09.04.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: Daldrup & Söhne AG Bavariafilmplatz 7 / Gb. 32 82031 Grünwald/Geiselgasteig

Germany Phone: +49 (0) 89 / 45 24 37 920 Fax: - E-mail: info@daldrup.eu Internet: www.daldrup.eu ISIN: DE0007830572 WKN: 783057 Indices: Scale 30 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange   End of News DGAP News Service

667397  09.04.2018 

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