DGAP-News: Daldrup & Söhne (Daldrup) AG

CORPORATE NEWS

Daldrup actively advances additional power plant projects

- Geothermal power plant in Neuried in SW Germany to be developed further

Grünwald / Ascheberg, Germany, November 23, 2017 - The drilling technology and geothermics specialist Daldrup & Söhne AG (ISIN DE0007830572) will start work on further developing the Neuried geothermal power plant project in southwestern Germany. That follows a decision be the responsible regulator, the state office for geology, raw materials and mining (LGRB) at the regional authority in Freiburg, that "an environmental impact assessment is not required" in order to proceed.

Following the completion of the first expansion phase, the Neuried geothermal power plant is projected to produce ca. 16,000 MWh of energy as well as 10,000 MWh of district heat a year. A cover note for assembley and productivity risk insurance has been provided. Daldrup's subsidiary Geysir Europe GmbH estimates project costs of up to 40 million Euros for drilling the necessary boreholes and building the power plant. Geysir Europe and LGRB will present the project timeline as well as plans for the construction and operation of the geothermal power plant at an information event for local residents, which will include a question and answer session to address residents' concerns.

In addition, Daldrup has received three participation requests from well-known investors for new geothermal projects and the expansion of existing geothermal power plants in the greater Munich area. With regard to the desired shareholding structure for the Neuried project and the three particpation requests, Daldrup's Management Board is examining the possibility of using up to 10% of the company's share capital as per the authorised capital approved in 2013.

Daldrup to successfully complete geothermal project in the Netherlands shortly
Daldrup & Söhne AG will soon complete the Nature's Heat project in the Netherlands. Nature's Heat B.V., Kwintsheul, is a consortium of ten greenhouse operators in the country's South Holland region. Daldrup has started work on the project - which included the sinking of boreholes as well as the construction of the ready-to-use heating centre and local heating distribution network - in early 2016. Thanks to the highly successful drillings, the consortium's members will be able to use ca. 16 MW of thermal energy generated by geothermal heat for their greenhouses.

To realize the project, Daldrup & Söhne AG has successfully followed the Alternative Risk Transfer (ART) concept the company had developed in-house. Since it substantially reduces the risk of unsuccessful exploration for the first drilling, it helped Nature's Heat B.V.'s to convince a major Dutch bank to provide financing for the project

Josef Daldrup, CEO of Daldrup & Söhne AG, adds: "Finalizing the Nature's Heat project means we will have an excellent reference project for our ART concept. This is a clear competitive advantage for our company that will enable us to acquire further geothermal projects in Central Europe since following the ART approach will once again make it possible for banks to finance geothermal drillings."

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).

Disclaimer
This publication represents neither an offer for sale nor a call to submit a tender for the purchase or underwriting of securities. This publication and the information it contains is not intended for direct or indirect dissemination in or within the United States of America ("USA"), Canada, Australia or Japan.
Press & Investor Relations Contact:

Daldrup & Söhne AG
Falk v. Kriegsheim
Phone +49 (0)2593-9593-29
Fax +49 (0)2593-9593-60
Bavariafilmplatz 7 ir@daldrup.eu
82031 Grünwald/Geiselgasteig www.daldrup.eu