German publication Merkur recently published articles highlighting Eavor’s presentation to the Weilheim City Council, located southwest of Munich and directly east of Geretsried, to begin a feasibility study in the surrounding area. Having secured mining permission for geothermal exploration in the region encompassing Ammersee, Starnberger See, and Polling, Eavor showcased its ongoing project in Geretsried to provide a framework for a similar venture near the town of Weilheim in Oberbayern.

In a recent press release, Google, Microsoft, and Nucor announced that the companies will collaborate to aggregate demand in the market to scale advanced clean electricity technologies. This effort focuses on leveraging technologies such as advanced nuclear, Next-Generation Geothermal, and long-duration energy storage. These technologies have great potential to deliver firm, dispatchable power, bridging the gaps in renewable energy production and facilitating the decarbonization of the grid, according to the International Energy Agency (IEA).

Eavor GmbH recently announced a partnership with SWU Stadtwerke Ulm/Neu-Ulm GmbH, a municipal utility company that supplies the region with electricity, gas, water, heat, to explore implementing Eavor-Loop™ technology in the region and pave the way for Neu-Ulm and Senden to achieve local energy autonomy. This collaboration aligns with Neu-Ulm’s ambitious goal to decarbonize by 2040, a commitment emphasized by Mayor Katrin Albsteiger, who urges immediate action to achieve it.

Eavor’s Executive Vice President for North America Bailey Schwarz presented at the Diversity and Inclusion Session during the IADC/SPE International Drilling Conference 2024 in Galveston, Texas. An essential part of Eavor’s work culture is harnessing innovative ideas and working with the “best brains” in the industry. During an interview with Drilling Contractor Magazine, Schwarz explains Eavor’s dedication to looking beyond a narrow labour pool to create a diverse workplace with the skillsets that Eavor needs. Success and growth in a company, she elaborates, involves introspection and considering personal biases.

The geothermal electric power generation market is predicted to experience significant growth in the next decade, according to Intellectual Market Insights Research (IMIR). As per the report, the market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 5.9 percent, surpassing $16,293.14 million by 2032. Investments in new technologies are underway to enhance the accessibility of geothermal energy for electricity generation and other heating purposes. However, geothermal energy extraction is primarily feasible in regions with easy access to highly heated water sources.

The latest report titled Pathways to Commercialization Report from the U.S. Department of Energy (DOE) focuses on Next-Gen Geothermal as a clean energy source poised for tremendous growth. This report will be featured at the DOE’s virtual fireside chat and webinar next month. The report positions Next-Gen Geothermal as a key contributor to establishing secure, domestic, decarbonized power generation in the United States. Leveraging advancements that borrow from the oil and gas sector, these approaches engineer human-made reservoirs from abundant hot rock resources, eliminating the need to rely solely on naturally occurring reservoirs in niche geologies.