Expro Group Holdings N.V. announced it has secured a contract to provide geothermal well‑testing services for the Schleidberg well in Germany’s Lionheart Project, a joint venture between VERCANA GmbH and Vulcan Energy. The contract, announced on March 24, 2026, positions Expro as a key service provider in one of Europe’s largest geothermal and lithium initiatives.
The Lionheart Project is designated under the EU’s Critical Raw Materials Act, underscoring its strategic importance for European supply‑chain security. Expro will deploy its GeoFlow Surface Well Testing package to evaluate the well’s hydraulic performance and lithium‑bearing potential, leveraging more than four decades of experience in geothermal and oil‑field services.
"We are proud to support VERCANA GmbH and Vulcan Energy on this landmark geothermal development," said Andrei Ion, Managing Director for Europe, Mediterranean, and Caspian, of Expro. "This partnership reflects the strength of Expro’s geothermal capabilities and our ongoing commitment to delivering safe, efficient, and future‑focused services across Europe." Marco Köpsel, Managing Director of VERCANA GmbH, added that Expro’s technical expertise will be instrumental in unlocking the project’s geothermal and lithium potential.
The contract win comes amid a broader trend of traditional oil‑field service providers expanding into renewable‑energy and critical‑minerals projects. Expro’s geothermal portfolio has grown steadily, and the Lionheart contract is expected to accelerate the company’s transition into the energy‑transition sector. Investors reacted positively, with Expro’s shares rising 1.91% to $18.17 in pre‑market trading on the announcement day.
While the announcement did not disclose the exact start date, duration, or financial terms of the contract, the partnership signals Expro’s continued focus on high‑growth, high‑impact projects that align with the EU’s strategic priorities. The company’s ability to secure a contract in a critical‑materials project reinforces its competitive positioning and supports its long‑term growth strategy.
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