Star Energy Group

What Star Energy Group does

Star Energy Group plc is a UK-domiciled, AIM-listed (ticker: STAR) energy company operating two business lines: legacy onshore oil and gas production in the East Midlands and Weald Basin, and a strategic geothermal diversification built around deep doublet systems (2,000-5,000m wells producing hot brine and reinjecting cooled fluid). The company applies subsurface engineering expertise originally developed in hydrocarbons to deliver low-carbon baseload heat to NHS hospitals, district heating networks, universities, industrial facilities, and commercial property. Internationally, it operates Croatian geothermal exploration and a 17.5 MWe gross / 10 MWe net power plant via subsidiary IGeoPen d.o.o. and A14 Energy Limited (71% interest in January 2025).

The core technology stack is an end-to-end turnkey geothermal delivery model: feasibility studies, geological modelling, subsurface design, drilling, surface system design, construction management, commissioning, and long-term operations and maintenance with continuous performance monitoring. Reported technical metrics include 85-95% capacity factors, deep-system efficiency up to 20:1, carbon reductions up to 90% versus gas, and single-doublet thermal output of 5-20+ MW. The product portfolio spans geothermal energy delivery, oil and gas operations, and modular service lines (regulatory approval, performance monitoring, consultancy, construction management, equipment O&M).

Revenue mechanics are predominantly project-based and long-cycle: long-term heat supply contracts with public sector and industrial clients (typically 30+ years), geothermal development services for third parties, oil and gas production sales, and emerging geothermal electricity revenue from Croatia. The go-to-market is enterprise field sales targeting NHS Trusts through the Carbon Energy Fund framework, district heating operators (Veolia UK partnership, Bring Energy MoU), local authorities, and industrial facilities. The company employs approximately 130 people across UK and Croatian operations and is headquartered in Lincoln, UK.

Name

Star Energy Group

Legal name

Star Energy Group plc

Website

https://starenergygroupplc.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

51–100 employees

Short description

Star Energy Group plc is a UK AIM-listed energy company delivering deep geothermal heating solutions to NHS Trusts, district heating networks, and industrial customers, alongside legacy onshore oil and gas production in the East Midlands and Weald Basin and geothermal operations in Croatia.

Ownership category

akta.pro rank

Product category

Geothermal Energy Production

NAICS

Steam and Air-Conditioning Supply (221330), Geothermal Electric Power Generation (221116)

SIC

Drilling Oil & Gas Wells (1381), Crude Petroleum & Natural Gas (1311), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Geothermal Direct Use Heat Projects (District Heating, Greenhouses, Aquaculture, Industrial Heat) (EUAMAEAG)

akta.pro secondary industries

Geothermal Power Plant Development & IPP (Permitting, Financing, Project Development) (EUAMAEAD), Geothermal Reservoir Engineering & Wellfield Management (Modeling, Stimulation, Reinjection Strategy) (EUAMAEAC), Geothermal Drilling & Well Construction (Production/Injection, Directional, Well Services) (EUAMAEAB)

Keywords

• Onshore oil and gas
• Deep geothermal energy
• Geothermal heat supply
• District heating networks
• Geothermal turnkey services

Headquarters

HQ city

Lincoln

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D

Revenue model

1. Oil and Gas Production: Revenue from oil and gas extraction operations in the East Midlands and Weald Basin, UK. Historically the core business activity.
2. Geothermal Heat Supply Contracts: Long-term heat supply contracts with public sector clients (NHS Trusts, hospitals) and commercial/industrial customers. Revenue generated through delivery of geothermal heating solutions with contracts typically matching the long asset life of geothermal systems (30+ years).
3. Geothermal Development Services: Turnkey geothermal project delivery including feasibility studies, regulatory approvals, drilling, construction management and commissioning for third-party clients.
4. Geothermal Electricity (Croatia): Revenue from geothermal electricity generation through the Croatian subsidiary IGeoPen d.o.o, with interests in exploration licences in the Pannonian Basin (Ernestinovo, Sječe, Pčelić).

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Star Energy Group plc operates onshore oil and gas production assets in the UK East Midlands and Weald Basin and is developing a deep geothermal energy business using doublet systems (typically 2,000–5,000m wells) to deliver low-carbon baseload heat to hospitals, universities, district heating networks, and industrial customers under long-term contracts, alongside geothermal electricity generation through its Croatian subsidiary IGeoPen.

Product overview

Star Energy Group operates as a British energy company offering two core product lines: Oil & Gas Operations (historical business focused on onshore extraction from East Midlands and Weald Basin) and Geothermal Energy (strategic diversification into renewable heat). The geothermal offering comprises a turnkey delivery model with integrated service modules spanning the entire project lifecycle: Geothermal Regulatory Approval, Geothermal Turnkey Delivery, Geothermal Performance Monitoring, Geothermal Equipment Operations and Maintenance, Geothermal Consultancy, Geothermal Construction Management, and Geothermal Energy Feasibility Studies. The company applies its subsurface expertise from oil and gas operations to develop deep geothermal doublet systems (2,000-5,000m depth) for district heating networks, NHS hospitals, commercial facilities, and industrial applications across UK and Croatia.

Differentiator

Problem solved

Functional benefit

Products and services

• Geothermal Energy

Quantifiable outcome

• Carbon reduction of up to 90% compared to conventional gas-based heating
• +4 more outcomes

Named customers6 records

Segments7 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Veolia UKcoreStrategic or Co-development Partner · 26 May 2026Star Energy and Veolia have formed a strategic partnership to support the development and delivery of large-scale geothermal heating schemes across the UK. The collaboration combines Star Energy's subsurface capabilities with Veolia's operational expertise in energy infrastructure. Target applications include district heating networks, hospitals, university campuses, industrial facilities, and commercial property developments. The partnership aims to accelerate geothermal heating rollout aligned with Veolia's 'GreenUp' net-zero strategy.
• Project InnerSpaceminorStrategic or Co-development Partner · 5 February 2026Star Energy participated in Project InnerSpace's launch event for their 'Future of Geothermal in the UK' report. Project InnerSpace is an international initiative dedicated to enabling geothermal energy development, directed by Jamie Beard and backed by Schmidt Futures. Star Energy contributed to the multidisciplinary study developed by twenty authors across more than ten UK institutions.
• Bring EnergycoreStrategic or Co-development Partner · 3 March 2025Star Energy and Bring Energy signed a Memorandum of Understanding (MoU) for a joint geothermal energy feasibility study to explore expansion of geothermal heating in Southampton. The study assesses opportunities for integrating additional geothermal heat into the city's existing district heating network and investigates development of a new geothermal-supplied heat network serving the northern region of Southampton.
• Carbon Energy Fund (CEF)coreStrategic or Co-development PartnerCarbon Energy Fund is an organisation established to help secure funding and project manage development of energy infrastructure and sustainability projects for the NHS and wider Public Sector. Star Energy was selected as preferred Innovation Partner by CEF for NHS Low Carbon Heat opportunities. CEF framework supports procurement of suppliers, engineering design and delivery partners, project management, legal and finance services, and operational Energy Performance Contracts. CEF has delivered more than 50 projects across the UK.
• Renewable Energy AssociationminorGTM or Marketing PartnerStar Energy is a member of the Renewable Energy Association, which advocates for renewable energy and clean technology in the UK.
• University of ManchesterminorStrategic or Co-development PartnerStar Energy participated in the inaugural Manchester Geothermal Symposium hosted by the University of Manchester. Tony Bryan (Development Director) spoke about Star Energy's Wythenshawe project and geothermal activity in Greater Manchester. The university showcased research capabilities and infrastructure supporting geothermal innovation.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• EGS Energy Ltd: UK-based enhanced geothermal systems developer pursuing deep geothermal projects in the UK. Operates in the same technology and regulatory space as Star Energy's UK business.
• Dandelion Energy: US residential and commercial geothermal heating provider using subsurface expertise for distributed heat pump deployments. Comparable business model in deploying geothermal heat at scale with consumer and institutional customers.
• Katla Geothermal: Icelandic deep geothermal project developer with technology partnerships. Comparable in applying advanced drilling and reservoir techniques to deep geothermal heat and power applications.

Broad incumbents

• Union Jack Oil plc: AIM-listed UK onshore oil and gas company with conventional and unconventional assets. Highly comparable to Star Energy's legacy onshore oil and gas footprint and shareholder base characteristics.
• IOG plc: AIM-listed UK-focused hydrocarbon producer. Comparable as a UK-listed small-cap with onshore oil and gas operations and the same UK regulatory backdrop facing Star Energy's legacy business.

Direct peers

• Cluff Natural Resources plc: AIM-listed UK company developing deep geothermal projects, sharing Star Energy's UK-listed status and subsurface-to-geothermal pivot model. Both target UK low-carbon heat markets using oil and gas subsurface expertise.
• Eden Geothermal Ltd: UK-based developer of deep geothermal projects in Cornwall. Competes directly with Star Energy for UK deep geothermal sites, NHS and public sector heat supply contracts, and investor capital.
• Eavor Technologies Inc. Canadian-headquartered deep geothermal technology company with active UK operations, including the acquired Geothermal Engineering Ltd. Direct competitor in deep closed-loop and doublet systems targeting district heating and industrial heat.

Regional players

• Geoen d.o.o. Croatian geothermal electricity developer and operator. Direct regional competitor in the Pannonian Basin targeting the same Croatian 1000 MW geothermal potential Star Energy is pursuing through IGeoPen and A14 Energy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/Starenergygroup
• LinkedInlinkedin.com/company/starenergygroupplc

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Star Energy Group