To our clients, partners, suppliers, and employees,

This has been a pivotal year for Subterra Renewables as the industry more widely adopted geothermal exchange, which strategically positioned us as a valued partner in the sector.

As a recap of our collective accomplishments, in addition to breaking into new markets, we broke new ground with numerous projects including Oberlin College in Ohio. A large-scale university campus project, drilling to convert a century-old fossil-fuel-powered system to geothermal. This project has inspired other institutions, large and small, to accelerate their electrification plans to reduce their carbon footprints and make progress towards Net Zero.

Throughout the year, our leaders were featured speakers at events in Washington, New York, Orlando, Salt Lake City, Las Vegas, Chicago, Toronto, and more.

We also increased the number of technologically advanced drilling rigs in our fleet to 70. Most notably, we gained access to our continent’s top-tier, experienced drilling talent with the strategic acquisition of Earth Drilling and Harris Exploration. A move that provides coast-to-coast support for new projects, making Subterra the largest geothermal utility provider in North America!

I’m also very proud that Subterra was ranked #1 by the Globe and Mail’s Report on Business as Canada’s fastest-growing company in 2023. The recognition is a testament to the important work we are doing to decarbonize our spaces and fight climate change.

Moving into 2024, we’re inspired to continue leading the way as we help transition Canada and the U.S. away from fossil-fuel-powered heating and cooling systems to geothermal energy – the most reliable renewable that recently prompted the U.S. Department of Energy to publicly share its findings that “Geothermal heat pumps offer enormous value for the nation’s energy future.” Ground-breaking endorsement and a big reason why you’ll be seeing more of us in the U.S next year.

You’ve all played a key role in our success in 2023, and for this – we thank you!

On that note, on behalf of the Subterra Renewables team, here’s wishing you a warm holiday season filled with blessings for a safe and Happy New Year!

Lucie Andlauer
CEO, Subterra Renewables