The strengths of QHeat of the business is the unique and already proven technology and its scalability.
With QHeat’s unique technology, geothermal energy from medium-deep heat wells can be used as efficiently as possible for heating, cooling and heat storage.
“The biggest climate action that our company can do is to speed up the development of the entire geothermal energy industry. Our interest is to make the technology available to as many operators as possible with the help of licenses for our patents”, QHeat’s CFO Hanna Sölli describes the company’s business idea.
No need to do everything alone – Growth with technology licenses
In the pilot phase of the technology, QHeat has drilled and built all of its wells itself. Now that the technology has been proven to work, QHeat’s goal is to form the majority of the company’s revenue stream with licenses based on patents.
“Patenting protects the resources we use for product development and research and offers a significant business opportunity. In addition to generating an income stream, patenting is also a means of selecting which types of actors can use the technology. Partners can be evaluated using criteria based on ethics or ecology. QHeat is not meant to be a drilling company, but we want to realize geothermal energy breakthrough cooperation with as many operators as possible”, Sölli states.
QHeat has patents pending in several countries on the northern hemisphere. Heat storage with a coaxial energy collector, solar energy storage in the soil, a heat distribution network based on boreholes and coaxial energy collection, and a free-cooling thermal well have progressed so that patents have already been approved in some countries and utility model protection has been obtained for the heating well in Finland.
Heat well with a coaxial flow enables heat production and storing into the ground
A geothermal heat exchanger, heat arrangement and method for charging the thermal energy into the ground. Involves an insulating tube allowing the change of flow direction and thus the heat well can be utilized throughout its length for efficient heating and cooling.
The patent is granted in Canada and Russia. Approved interim report has been received in Finland, and the patent is pending in three other countries.
Local heating network based on heat wells and energy circulation
Water from the heat well can be circulated in the local heating network within consumption and production points. The same network can be utilized simultaneously by those who demand heating or cooling. This allows exchange of energy. Heat pumps are located at the consumption and production points.
An approved interim report for the patent has been received in Finland, pending in four countries.
The local heating network is currently being built in Finnoo, Finland.