During the first quarter of 2021, Baseload closed a capital round of USD 25m with Chevron Technology Ventures (“Chevron”) as a new strategic investor.
- The result for the first quarter was SEK -31.0 million (SEK -8.3 million for the same period in 2020).
- In Japan, work continues on the third project for Baseload Power Japan. Called Sansui, it is a small project where an existing onsen-well is used to run two Climeon modules. The project is strategically important to be able to expand with larger projects in the vicinity.
- In Taiwan, drilling is back in full swing at the Westlake project with a depth of 900 meters and a target of 1200 meters. According to the new schedule, drilling should be completed by the end of May or the beginning of June.
- In Iceland, Varmaorka commissioned phase 2 of the Fludir project, and started up an additional 600 kW of power, which gives Fludir 1 & 2 a total capacity of 1200 kW. The work for phase three has also begun, with an evaluation of whether we can build an additional 500 to 1500 kW on the site.
- In the US, Baseload has signed an LOI together with Chevron’s Technology Center to build a pilot project on an existing well.
The information was submitted for publication at 07:30 CET on 26 May 2021.
For more information, please contact:
Alexander Helling CEO of Baseload Capital