Business
Partnership with Veolia - Geothermal Projects
Partnership with Veolia - Geothermal Projects.
About this update from Star Energy Group Plc
[{"type":"text","content":"\n\n6 May 2025\n \nThis information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \nStar Energy Group plc\n(\"Star Energy\" or the \"Company\")\n \nStar Energy partners with Veolia to develop large scale geothermal projects to decarbonise energy\n \n· Star Energy has signed a memorandum of understanding with Veolia to develop large scale geothermal heating projects in the UK.\n· Focusing on the decarbonisation of heat supply to new and existing customers, the two companies will work together on decarbonising district heating schemes, commercial buildings, hospitals, campuses and industrial processes.\n· The partnership further extends Star Energy's diversification, using its existing expertise, into geothermal energy, and supports Veolia's global GreenUp strategy to lower carbon emissions and counter climate change.\n \nStar Energy Group plc (AIM: STAR) is pleased to announce that it has signed a memorandum of understanding with Veolia, Europe's decarbonising energy leader, to develop large-scale geothermal projects. The new partnership will help to deliver the UK's net zero goals by using the constant, reliable, renewable and low-carbon energy source from the ground. This geothermal energy will replace the fossil fuel energy that is currently used to supply heat to district heating schemes, commercial buildings, hospitals and education campuses.\n \nAs almost a third of the final energy consumed in the UK is used as heat in the domestic, commercial and public sectors, resulting in over 40% of the UK's carbon emissions, there is an urgent need to tackle carbon emissions from heat if the country is to meet its net zero goals. Geothermal heat is more energy efficient than many low-carbon alternatives, requires a much smaller surface footprint, will offer significantly greater longevity and is a potentially lower-priced solution. As a result of the low...