Established in 2013, MijnWater Energy operates a highly innovative 5th Generation District Heating and Cooling (5GDHC) grid, a leading example of geothermal energy utilization in Europe.
The contract provides the supply of drilling services for a geothermal well in the locality of Heerlen and marks Foraj Sonde’s entry into The Netherlands, which is a rapidly growing European leader in geothermal energy, particularly for low-temperature heating in greenhouse horticulture and district heating networks. With over 25+ operating projects (doublets) and a robust pipeline aiming for 100+ projects, the country targets significant CO2 reductions by shifting away from natural gas to geothermal heat.
Foraj Sonde said the contract contributes to diversifying its portfolio through sustainable initiatives aligned to the European energy transition trends.
Foraj Sonde sees the collaboration with MijnWater Energy B.V. as a strategic step towards consolidating its foothold on the European market and developing sustainable projects, while contributing to reducing CO2 emissions and promoting renewable energy in the region of Limburg.
Foraj Sonde has a market capitalization of RON294.49 million, on March 18, 2026. Its shareholders include First All Energy Europe, with a 45.17% stake, Inspire Asset Management, held by Iulian Stanciu (one of the best-known entrepreneurs in Romania, president of eMAG group), with 32.9%, and the remaining 21.9% is distributed among individuals and legal entities.