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FORSTERK-Forsterkningsmidler

FPS Geo-Coat Simulator Supplementary Funding

Awarded: NOK 1.0 mill.

Project Number:

322724

Project Period:

2021 - 2024

Funding received from:

Organisation:

Geothermal energy is the only renewable energy source that is available 24/7, all year around, and in principle anywhere on the planet. It is a baseload supply. It has lower life cycle CO2 emissions than for example biomass and even Solar PV. In addition, the power station has a small footprint. In spite of all these advantages, it has only 0.4% (1.5% of renewable) of the electric energy market. The main reason for this is high cost. This is addressed in the H2020 Geo-Coat project, where the CAPEX and OPEX are reduced through development of new innovative coatings that leads to reduced material and maintenance costs. The FPS Geo-Coat simulator is a key software tool for dissemination and exploitation of these technologies.

Geothermal is an underutilised resource which is expected to grow considerably in the coming decades to help achieve climate targets, including the European Green Deal. Currently, geothermal requires fairly high investment and operation costs. Some of the costs are being addressed in the H2020 Geo-Coat project. FlowPhys is part of the consortium and is developing a novel geothermal software tool which can be used to optimise designs, material choice (especially coatings), and operations, thereby reducing CAPEX, OPEX, and environmental footprint of geothermal energy. There are many similarities between the Geothermal Energy and Oil & Gas sectors. The FPS Geo-Coat simulator is a key tool for dissemination and exploitation of the H2020 Geo-Coat project findings, and there are therefore significant opportunities to involve Norwegian equipment manufacturers from the Norwegian Oil & Gas sector.

Funding scheme:

FORSTERK-Forsterkningsmidler

Funding Sources