Join the new edition of Startup Tuesday to learn more about Canopus Drilling Solutions, their technology and upcoming projects presented by Diederik Wawoe, CEO.
Geothermal energy or energy from hot water in the earth has been around for thousands of years. The Romans used geothermal energy for their baths and in places like Iceland, it is used for heating and electricity production. In spite of the fact that there is enough geothermal energy in the crust of the earth to supply energy for the entire population for more than a thousand years, only 1% of the produced energy in the world, comes from geothermal energy. The reason for this is that Geothermal energy is too expensive in many places, mainly because the drilling costs are too high when geothermal is less accessible.
Canopus Drilling Solutions is developing a groundbreaking technology to make geothermal more economical on the basis of Steel Shot Drilling. Steel Shot Drilling, is based on drilling with particles of less than 1 mm. The technology is based on a new patent granted to Canopus for advanced steering with these steel particles. Advanced steering is essential to drill horizontal wells which in turn is essential to get more water contact than from conventional vertical wells and increases output. In 2022 Canopus wants to pilot its drilling technology in the field. Some investors and operators have already expressed their interest, but Canopus would be happy with more piloting opportunities and investors.
Diederik Wawoe, the CEO of Canopus, is a mechanical engineer with a mission to bring power to the people. After he started his career in Shell Solar in the ’90s thus pioneering in solar energy long before it became mainstream. After this, he held several senior commercial positions in Shell in the Netherlands, Gabon and India. He started his own business in 2018 that focuses on energy project development in which there are 3 pillars: Solar Energy Financing for Africa, Solar Energy Battery Storage and Canopus Drilling. He joined Canopus in 2019. Canopus is currently Diederik’s highest priority and main focus.
As a teaser, read a recent interview with Diederik on Apollo 14’s website.