The Netherlands
Canopus Drilling Solutions is a groundbreaking startup in the construction industry, based in The Netherlands. Founded in 2018, the company has developed a disruptive drilling technology that significantly improves the productivity of geothermal reservoirs. The innovative drilling technology, based on fast and accurate directional steel shot drilling, has the potential to increase reservoir productivity by a factor of 2 to 6. This is achieved without requiring weight or torque on the drill bit, making it a cost-effective solution for geothermal energy extraction.
The company's autonomous steering device, a 3m long assembly located right behind the drill bit, enables the drilling of long horizontal multilaterals in geothermal reservoirs, thereby enhancing reservoir contact at low cost. This unique capability is effective across all rock types and can be utilized for diverse applications including shallow curved closed-loop heat exchangers, deep open geothermal systems, and closed-loop ultradeep geothermal wells for power and heat production. By leveraging this technology, Canopus Drilling Solutions aims to unlock previously unfeasible geothermal opportunities.
The company recently secured a €2.60M Seed Round investment from SHIFT Invest and ENERGIIQ on 19 September 2022. This investment reflects growing confidence in the disruptive potential of Canopus' technology and its ability to revolutionize the geothermal energy sector.
