RCS - Star Energy Group - MoU with Bring Energy

Star EnergyAnnouncement

31/03/2025 07:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250331:nRSe7709Ca&default-theme=true

RNS Number : 7709C  Star Energy Group PLC  31 March 2025

31 March 2025

 

Star Energy Group Plc (AIM: Star)

("Star" or "the Company")

 

Star Energy Signs MoU with Bring Energy to Decarbonise Southampton Geothermal
Heating Company

 

Star Energy has signed a Memorandum of Understanding ("MoU") with Bring
Energy, the largest operator of UK heat networks, to explore the further
integration of geothermal energy into Southampton's city-centre heat network.

 

The Southampton Geothermal Heating Company ("SGHC") is a pioneering
partnership delivering sustainable heat, chilled water, and power to the city.
Operated by Bring Energy in collaboration with Southampton City Council, the
partnership is committed to decarbonisation of the network.

 

Under the agreement, Star Energy will leverage its geothermal expertise to
conduct a feasibility study assessing the potential for supplying geothermal
heat to the existing network. The partnership will also explore the
development of a new geothermal-supplied heat network to serve the northern
part of the city.

 

Councillor John Savage, Cabinet Member Green City and Net Zero at Southampton
City Council, said:

 

"We are keen to see the decarbonisation of heat and support the assessment of
further potential low carbon geothermal heat within the city, aligning
perfectly with our commitment to achieving our net zero ambitions."

 

Commenting, Ross Glover, Star Energy CEO, said:

 

"This agreement is a significant step forward in delivering clean, reliable
heat to UK cities, an important aspect of our strategy going forward as we
continue to broaden the ways in which we can contribute to securing domestic
energy supply. By combining Star Energy's geothermal expertise with Bring
Energy's operational capabilities, we aim to demonstrate the real potential of
geothermal energy in decarbonising urban heat networks. Our feasibility study
will be the first step in unlocking a sustainable, long-term heat source for
Southampton, supporting the city's net zero ambitions and enhancing energy
security for the future."

 

Richard Burrell, Executive Chairman of Bring Energy, said:

 

"Decarbonising urban heat networks is essential for meeting our net zero
commitments, and geothermal energy presents an exciting opportunity to achieve
this. Partnering with Star Energy allows us to explore how geothermal can
integrate into our existing network, providing a sustainable and resilient
heat source for Southampton. We look forward to working together on this
feasibility study and the potential expansion of low-carbon heating solutions
for the city."

 

For further information please contact:

 

Star Energy Group plc

Tel: +44 (0)20 7993 9899

Ross Glover, Chief Executive Officer

Frances Ward, Chief Financial Officer

 

Zeus (Nominated Adviser & Broker)

Tel: +44 (0)203 829 5000

Antonio Bossi, Alexandra Campbell-Harris (Investment Banking)

Simon Johnson (Corporate Broking)

 

Vigo Consulting

Tel: +44 (0)207 597 5970

Patrick d'Ancona/Finlay Thomson/Kendall Hill

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAPPUQAWUPAGQR