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CEO David Townsend celebrates TownRock Energy's 10-year anniversary

23/07/2023

TownRock Energy CEO, David Townsend, reviews the company's continuing success as they celebrate their 10-year anniversary.

"This week marks the anniversary of one whole decade since the incorporation of TownRock Energy Limited, on the 19th July 2013.

It's incredible to be able to write with confidence that the company is exactly where I hoped it to be ten years in.

A dream team - deep meaningful relationships make life enjoyable, and I am so happy with the passionate talented team we have built, who give me a reason to look forward to coming to work every day.

Making money - this was never the main goal, as a limited company was purely the best vehicle by which to make an impact on the UK geothermal energy sector, but I am delighted to say we have tripled turnover year on year for the past three years.

Building projects - to reduce CO2 emissions we need to build and operate, as we have with BODYHEAT, which started operating last year, and the first multi-MW mine water schemes owned by Lanchester Wines which are operating and growing. Operating projects provides us with continuous innovation opportunities, technical, commercial and regulatory. More projects coming soon, watch this space.

My passion has always been to drive progress and demonstrate commercial viability in geothermal energy to reduce the environmental impact of the energy sector. Industry progress this decade has been frustratingly slow, but I am convinced that in the next decade this industry will flourish.

As TownRock grows, my passion is evolving to be also about people, trying to create a culture that supports accelerated personal and team learning and growth alongside balance and wellbeing.

Starting a company in a non existent sector with no experience was an unconventional route. Thanks to our trusting shareholders, supportive early clients and partners, and various business accelerators and funding competitions, we made it. Thank you for keeping the faith.

The magic of the last few years of funded growth have made the hard years of no money and minimal team all worthwhile. The UK sector, and global sector, has never seen this much interest and investment going into geothermal companies and projects.

There are still many barriers to development for us to overcome, but clearly with the climate emergency reaching a screeching crescendo with the current worldwide heat waves and wild fires, we have every motivation to work with the government and our clients to overcome these barriers as intelligently and rapidly as possible. One of the best birthday presents is the UK Deep Geothermal White Paper, which outlines policy tools to help us overcome these barriers.

The next decade will see many more projects built, saving vast amounts of carbon from entering the atmosphere. Geothermal energy in its many forms will enter mainstream public awareness. TownRock will continue to be at the forefront.

KeyFacts Renewable Energy Directory: TownRock Energy  

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