Cindrigo Increases Geothermal Resource Estimate in Germany by 50%

Cindrigo Holdings Limited has reported an exploitable energy potential of 157.8 megawatts for its Eich Hamm geothermal licence in Germany, marking a 50% increase from previous estimates. The analysis by GeoDa Consulting d.o.o. also suggests a potential production of 7,230 tonnes per annum of lithium carbonate equivalent, with development plans involving three geothermal well doublets targeting the Rotliegend formation.

The first planned production well, EichGT-1, is projected to yield 40.3 MWth thermal energy and 2,400 tonnes per annum of lithium. Drilling is scheduled for 2027 at depths of 2,500 to 3,500 meters. Cindrigo has secured eligibility for reimbursement of exploration costs under the BAFA BEW scheme and is pursuing additional support from the German government, including potential financing of up to €25 million. The company plans to release a Competent Person's Report by the end of the year.