Finnish geothermal company targets international expansion

The QHeat Team (source: QHeat)

Finnish geothermal energy company QHeat has announced an international expansion, offering its patented technology to international markets.

QHeat’s patented geothermal heating and cooling system reduces heating emissions from buildings by up to 90%. It offers energy companies, real estate investors, owners, and construction companies the means to electrify heating with geothermal heat pumps and replace fossil fuel and combustion-based alternatives.

?Drawing on their experience of delivering turnkey projects, the QHeat team provides comprehensive guidance to partners interested in incorporating large-scale geothermal heating, cooling, and storage technologies into their business model. Combining a coaxial well and heat pump creates a potentially lucrative revenue stream.

“Clean, efficient, and economically viable heating solutions are now accessible to all property and energy providers interested in future-proofing their built environment. With our licensing model we help our partners build efficient geothermal energy systems for their needs,” says Erika Salmenvaara, CEO of QHeat.

“Although heat wells require an initial investment, the operating costs for the coaxial well remain low, so the investment pays for itself in the long run — through improved energy efficiency, significant financial savings and future-proofing the built environment,” Salmenvaara added.

The company has already played key roles in geothermal projects in Finland, notably the first geothermal heating plant in Vantaa and a subsurface heat storage facility in Salo.

The patented coaxial system

Salmenvaara believes coaxial geothermal energy will supersede conventional heating methods, including combustion-based heating and ground source and air-to-water source heat pumps. In 2022, QHeat started applying for patents for their technology based on coaxial flow. The patent includes an insulated pipe, with which the direction of the coaxial flow can be changed depending on the purpose of use and the entire depth of the heat well can be utilized for efficient heating and cooling.

The company’s competitive edge stems from its superior coefficient of performance (COP). Operating data shows QHeat wells achieve a COP of up to 7 for electricity usage, significantly outperforming traditional ground source and air-water source systems, which typically only reach 2.5–3.5. Not only is QHeat’s solution aligned with the EU Taxonomy and a worthwhile long-term investment, but it also enables property owners to achieve their net-zero goals while potentially becoming energy producers themselves.

“Our wells improve energy self-sufficiency; they are capable of powering entire building blocks,” explains Salmenvaara.

First licencing project underway in Estonia

QHeat projects 180 licensed heat wells across several European markets by 2027. Currently operating in Finland and Estonia, QHeat plans to expand into additional Nordic, Baltic, and Central European countries within the next five years.

In Estonia, QHeat has recently partnered with Engineering Bureau STEIGER to deliver its patented coaxial heat well for the Geological Survey of Estonia, drilling a 700-meter borehole for low-temperature district heating and cooling. This project aims to demonstrate the efficiency of low-temperature geothermal systems and marks a key step toward sustainable energy solutions in Estonia.

Source: QHeat