Earth Wind & Power signs letter of intent with Rapid Oil
Earth Wind & Power (EWP) – a leading innovator in creating a sustainable bridge between excess energy and the exponentially growing demand for power in the high-performance computing industry – has announced that it has signed a Letter of Intent 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 feasibility-study after three months.
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.
"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,” said 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.
“We are happy to announce this cooperation today with a company that shares our goals of reducing emissions and contributing to more environmentally sustainable operations. 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 cooperation with EWP can leverage the complementary strengths of both companies to create a compelling ESG solution,” added Geir Aune, Chairman of Rapid Oil Production Ltd.