Τhe Institute of Petroleum Research (IPR) of the Foundation for Research and Technology – Hellas (FORTH), founded in 2019 in Chania, is hereinafter renamed "Institute of Geoenergy (IG/FORTH)" according to article 76 of Law 4864 /2021, published on 2-12-2021.

By this name change, the Institute affirms its determination to strengthen its activities in the field of Energy, in compliance with the current demands of the energy transition. The Institute of Geoenergy combines the directions of geosciences (geology, geochemistry, geophysics) with engineering (especially chemical engineering) in order to promote its research agenda on energy-related fields spanning from the study of energy resources in the subsoil to novel energy technologies with particular emphasis on the capture and storage of carbon dioxide, geothermal energy and alternative fuels, including hydrogen production and storage technologies. At the same time, a key pillar of IG/FORTH is the environmental research on mitigating the impact of the activities of the energy industry on the environment.

In addition, renaming the Institute is in line with the strategic development plan of FORTH, which includes the establishment of the "Research and Innovation Center for Sustainable Energy Transition" in Chania. The development of the Center is underway with funds from the European Investment Bank.

In this regard, the President of FORTH, Prof. Nektarios Tavernarakis, stated:

"The Foundation for Research and Technology, responding to the ever-increasing challenges posed by climate change, places particular emphasis on the areas of safe and environmentally friendly use of energy resources. The know-how being developed by the Institute of Geoenergy, has formed a significant dynamic for modern environmental research, with outcomes that can be applied in aspects that affect everyday life directly, crucially contributing to improving quality of life. Summing up, the aim of the Institute of Geoenergy is to promote research in order to support the green transition to energy production with low carbon footprint, the sustainability of the energy industry in social, environmental and economic terms, and the high-end management of available energy resources for Greece."