Daldrup & Söhne AG awarded new concession for Neuried claim

- Work on the geothermal power plant should be able to start in the near future

- Operating plans and specific drilling programme require separate approval

Grünwald / Ascheberg, Germany, September 26, 2018 - Geysir Europe GmbH, a subsidiary of Daldrup & Söhne AG (ISIN DE0007830572), has been granted the concession for the exploratory field in the Neuried claim by the responsible regulatory authority in Freiburg, Germany. The concession, which was awarded by the state office for geology, raw materials and mining (LGRB), gives Geysir exclusive rights to access the claim for the planned geothermal drillings.

The operating plans and drilling program still have to be submitted as part of a separate approval process. Geysir will provide this information to the LGRB in a timely manner. The company will also go beyond legal requirements to inform the public about the project and the different steps that will be taken until the geothermal power plant starts operations.

"We are very happy to have been granted the concession by the Baden-Württemberg state authorities," says Josef Daldrup, CEO of Daldrup & Söhne. "We will quickly start working on the next procedural steps. Daldrup already owns the premises for the operations. That means the drilling operations for the geothermal power plant in Neuried will be able to begin in the near future, in line with existing plans. This will provide a major push towards establishing geothermics as a type of renewable energy able to provide the base load for the region. Strasbourg can be seen as role model: The French city is diligently working towards achieving complete energy autonomy by 2050. Europe's deepest and hottest geothermal borehole was drilled there. Further projects are already being planned."

About Daldrup & Söhne AG
Daldrup & Söhne AG (ISIN: DE0007830572, WKN: 783057) with a corporate history spanning more than 70 years is a specialist provider of drilling and environmental services and ranks as one of the leading companies in Germany. Its activities are divided into the business divisions Geothermics, Raw Materials & Exploration, Water Extraction as well as Environment, Development & Services (EDS). The Geothermics business division provides drilling services for near-surface geothermics (especially geothermal probes of heat pumps), along with drilling services for deep geothermics up to 6000 m, in order to utilise the geothermal energy accessible in this way for electricity and/or heat generation. In the Raw Materials and Exploration business division, the bores made by Daldrup & Söhne AG serve for exploring and developing fossil fuel deposits (especially coal and gas) as well as mineral resources and ores (e.g. copper and gold). The Water Extraction business division comprises well construction for the extraction of drinking, service, curative, mineral, boiler-feed or cooling water as well thermal brine. The Environment, Development & Services (EDS) business division comprises special environmental engineering services such as the hydraulic clean-up of contaminated sites, the drilling of gas extraction wells for recovering waste dump gas, the provision of groundwater quality measuring points or the installation of water purification plants.

The majority stake in Geysir Europe GmbH also gives the Daldrup Group its own fields of experience in the exploration of geothermal energy in the Bavarian Molasse Basin and in the Upper Rhine Plain. The existing project management and power station expertise means that all stages of value creation can be covered for a deep geothermics project.

The shares of Daldrup & Söhne AG are listed in the Scale (sub-segment in the open market of the Frankfurt Stock Exchange).

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