Daldrup & Söhne AG receives drilling order for sidetrack from Erdwärme Neustadt-Glewe

CORPORATE NEWS

Daldrup & Söhne AG receives drilling order for sidetrack from Erdwärme Neustadt-Glewe

• Order volume of about 3 mio. euros

Oberhaching / Ascheberg, April 24, 2023 - Daldrup & Söhne AG (ISIN DE0007830572), drilling technology and geothermal specialist, has received an order from Erdwärme Neustadt-Glewe GmbH, district of Ludwigslust-Parchim, in Mecklenburg-Western Pomerania for the construction of a so-called sidetrack from an existing borehole. The project is worth around three million euros. The well is intended to expand the available output of the geothermal heating plant, which has been in operation since 1995. Drilling is scheduled to start in July 2023 and is expected to be completed in August 2023. For Daldrup & Söhne AG, this is already the second contract in the federal state within a short period of time after the drilling for Schwerin municipal utility.

Currently, the first geothermal power plant in Germany, built in 1984, has a capacity of 13 megawatts of heat and supplies 1,400 households with climate-friendly geothermal energy via a local heating network. With the expansion, 15 MW will be available and an additional 200 households will be supplied. The city wants to achieve a neutral carbon dioxide balance by 2030. Geothermal energy makes a considerable contribution to this.

The subsoil of the North German Plain in Mecklenburg-Western Pomerania offers cities and municipalities optimal conditions for using geothermal energy, which provides enormous advantages: it makes consumers independent of political developments in the countries of origin of fossil raw materials and of fluctuating gas and oil prices. In addition, the use of domestic geothermal energy promotes regional value creation.

About Daldrup & Söhne AG

Daldrup & Söhne AG (ISIN: DE0007830572, WKN: 783057) with a corporate history spanning more than 75 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 shares of Daldrup & Söhne AG are listed in the Scale (sub-segment in the open market of the Frankfurt Stock Exchange).

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Press & Investor Relations contact

Daldrup & Söhne AG

Falk v. Kriegsheim

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