PR Newswire
Summary
Subterra Renewables, North America's leading geothermal exchange systems utility provider, is pleased to announce that drilling for Ohio's largest geothermal systems-installation is well underway at its landmark project at Oberlin College & Conservatory ("Oberlin College"). Upon completion in 2027, the university's 55-plus buildings in the district will be converted from a century-old heating system to a proven geothermal energy exchange system ("geo-exchange") to heat and cool the campus.
According to the university, this will significantly reduce overall energy costs, and most importantly, cut campus energy consumption by over 30 per cent as Oberlin pledges to reach carbon neutrality by 2025.
Over the past few months, Subterra kicked off drilling over 850 borehole wells that run 600-feet deep, roughly the length of 100 miles of underground pipe. This will lay the groundwork for the geo-exchange loop system that will be installed under Oberlin's outdoor practice fields located north of the campus buildings.
"The Oberlin district program is a watershed project for Subterra that represents a major U.S.-based drilling development and campus conversion to a geothermal district energy system, proving that our investment in technology-advanced drilling rigs will revolutionize and expedite our projects. It further demonstrates we are the unmatched geo-exchange leaders across North America," said Kareem Mirza, Chief Revenue Officer at Subterra Renewables.
He added: "As the leading vertically integrated utility supplier, we are fully capitalized with over a billion US dollars to deploy our EaaS model, whereby Subterra drills and installs the geo-exchange system at no upfront cost to the project owner, and instead, as the geothermal energy systems distributor, we provide a utility-model of EaaS. It is a fully de-risked system that dramatically reduces capital expenses, energy cost, removes loads from the energy grids and will greatly contribute to a cleaner future."
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