Whitebark Energy signs collaboration with CeraPhi Energy

Whitebark Energy Limited (ASX: $WBE) has signed a Heads of Terms with international Geothermal Developer CeraPhi Energy to support the development of the Company's Australian based Geothermal assets. The collaboration aims to utilize CeraPhi Energy's expertise and proprietary technology to enhance exploration and development outcomes for Whitebark's geothermal assets, particularly the EPG2037 tenement covering an area of approximately 589 square kilometres in the Greater Brisbane and Gold Coast Region, Queensland.

Executive Commentary on Collaboration

Whitebark General Manager, Adam Stepanoff, emphasized the strategic significance of the collaboration with CeraPhi Energy, highlighting the potential for geothermal energy to contribute to Australia's energy transition and the Company's ambition to become a leader in the sector. Founder and Chief Executive Officer of CeraPhi Energy, Karl Farrow, expressed excitement about the opportunity to work with Whitebark Energy, emphasizing the potential for scaling geothermal energy in the region and positioning Australia as a major player in the geothermal sector.

Summary of Collaboration and Outlook

The collaboration between Whitebark Energy and CeraPhi Energy signifies a strategic move towards leveraging geothermal technology to drive Australia's energy transition. The partnership aims to capitalize on the EPG2037 tenement's potential for generating and selling geothermal power, contributing to the region's renewable energy mix. With CeraPhi Energy's advanced closed-loop geothermal technology, Whitebark Energy aims to de-risk new geothermal developments and repurpose end of production Oil and Gas wells, aligning with its goal to achieve Net Zero targets. The collaboration sets the stage for the execution and delivery of a development strategy that could position Australia as a significant player in the geothermal sector, offering long-term, dispatchable renewable energy for Southeast Queensland and beyond.