Earth Wind & Power signs Letter of Intent with Rapid Oil Production
First steps to establish the basis for collaboration to conduct feasibility study of power-to-data-centre projects off-shore in the North Sea .
Earth Wind & Power ( EWP ), a leading innovator in creating a sustainable bridge between excess energy and the exponentially growing demand for power for the High-Performance Computing industry , has announced it has signed a Letter of Intent ( LoI ) for a strategic alliance with Rapid Oil Production Ltd ( RPO ), a UK based oil production company .
Leveraging the complementary strengths of both firms , as well as their commitment to deliver sustainable , cost effective and energy efficient ESG solutions , the partnership intends to carry out a joint feasibility-study for the potential deployment of modular data centre infrastructure at RPO ’ s Fyne field project in the UK North Sea sector . RPO owns 100 % of the Fyne licence , which contains an estimated 24 million barrels of recoverable oil . The parties aim to finalise the feasibilitystudy after three months .
Ingvil Smines Tybring-Gjedde , CEO and Co-Founder of Earth Wind & Power and former Norwegian Minister of National Public Security and Deputy Minister of Petroleum and Energy , said : “ I am delighted to announce the collaboration with Rapid Oil Production today , marking another important step in the development of EWP ’ s unique and powerful ESG solution . Off-shore North Sea is a key market for us given the scale of the opportunity to support the reduction of excess energy , the continuing growth in demand for data centres and the adaptability of our solution . We look forward to working with RPO and other innovative companies which share our goal of further reducing emissions as we transition to a net-zero world .”
Geir Aune , Chairman of Rapid Oil Production , added : “ We are happy to announce this co-operation today with a company that shares our goals of reducing emissions and contributing to more environmentally sustainable operations .
Grabner added , “ While hydrocarbons will continue to play an important role in the energy mix for decades to come , producers have an obligation to responsibly manage and reduce the environmental impact of their activities . The co-operation with EWP can leverage the complementary strengths of both companies to create a compelling ESG solution .” p
PRODUCERS HAVE AN OBLIGATION TO RESPONSIBLY MANAGE AND REDUCE THE ENVIRONMENTAL IMPACT OF THEIR ACTIVITIES .
The collaboration will benefit from EWP ’ s expertise in turning excess energy from wind , solar , geo-thermal and oil and gas into power for modular HPC data centres as well as RPO ’ s innovative technical , operational and environmentally focused approach to production .
EWP ’ s solution offers energy companies within wind , solar , geo-thermal and fossil fuel markets a powerful and unique ESG solution for utilising their excess energy , while creating new commercial value and enhancing ESG standards .