Canopus, based in The Hague, has secured a follow-up investment of 3 million euros. This financing, led by Underground Ventures with the participation of current investors SHIFT and ENERGIQ, is crucial to the company’s expansion. Two years after raising 2.6 million euros, Canopus is gearing up for accelerated growth thanks to this latest injection of funds.
Innovative drilling technology
Canopus breaks new ground with its Directional Steel Shot Drilling (DSSD) technique. This method combines conventional diamond drilling with steel particle erosion, enabling faster drilling and better underground navigation. According to Jan Jette Blangé, CEO of Canopus, this technology can significantly reduce drilling costs and times, while improving the thermal efficiency of wells.
An opportunity for the energy transition
Although geothermal energy accounts for only 1% of the world’s energy needs, it is recognized for its ability to provide clean, renewable energy. With reduced installation costs, it could become a major player in the energy transition. Canopus’ technology promises to unlock this immense potential by making access to geothermal energy more economical and reliable.
Regional and global impact
The south of Holland, rich in geothermal resources, has seen its position strengthened with Canopus and the RCSG in Rijswijk. These institutions are attracting worldwide attention, turning The Hague into a nerve center for geothermal energy. The presence of the International Geothermal Association and other international bodies in The Hague underlines the strategic importance of this region in the global energy landscape.
The contribution of Underground Ventures, a Danish fund specializing in geothermal energy, underlines the growing importance of this sector. Torsten Kolind, fund manager, says this investment is essential to overcoming the energy crisis. Similarly, SHIFT Invest’s Koen Hooning recognizes the potential role of geothermal energy in mitigating environmental impacts and promoting sustainable growth.
