Akiet was formed in April 2015 after combining technology developed in Acquit Business Development BV and funding from Ponooc Earth BV.
Born from combined experiences in O&G, solution mining and geothermal energy, Acquit Business Development BV was founded in The Netherlands, in 2001.
During its first 13 years, Acquit Business Development pursued a vision of “Drilling to 3000 meters (10,000 ft) depth from a parking lot” to enable the viability of geothermal energy exploitation. Having identified that the weight of steel well completions and steel drill strings is the major reason for the need for large, heavy “old industry” drilling equipment Acquit Business Development set out to develop light-weight composite casings which can be installed by casing drilling operations.
Through the years the company combined with industrial partners, institutions and inventors to pursue this vision. With time, however, customers from other industries than geothermal energy realized the potential of Akiet High Strength Composite Casings and the Enhanced Composite Casing Installation for applications where steel falls short of expectations. This led to first orders in down-hole anti-corrosion applications in oil wells and in monitoring wells based on the ability to use logging tools from with the protection of the casing, culminating in successful first product installation of 7”HSCC at 5000 meters (16,000ft) depth in 2014. This still remains the world record depth for composite applications!
In 2015 Akiet started with the construction and commissioning of a commercial manufacturing facility in Lelystad in the Netherlands.