Scovan’s IGNITE magazine recently interviewed Michael Holmes, Eavor’s VP of systems engineering and strategy, to inquire about the company’s mission to enable local energy autonomy worldwide. As of August 2023, Eavor has inaugurated its first commercial project, Eavor-Europe™, in Geretsried, Germany. Holmes explains that this project is a “culmination of Eavor’s dedication and hard work” to innovate technology that scales reliable clean energy, and the journey to this commercial venture has been very fulfilling.

Eavor Vice President of Origination, Neil Ethier spoke with North America Outlook Magazine to shed light on Eavor-Loop™ technology and how this innovation is scaling clean baseload energy to global markets. This technology relies on the conductive method of heat transfer rather than the convective means that traditional geothermal and EGS systems utilize. This design means that Eavor does not require fracking techniques, has minimal water use, and is not associated with induced seismicity or discovery risk. Due to these factors, Ethier explains that Eavor’s technology has the potential to disrupt the global energy landscape profoundly. With a highly predictable output and dispatchable capacity, Eavor-Loop™ technology can be financed and scaled using standardized manufacturing approaches akin to wind or solar energy.

Moderated by Janelle Daniel, SPE International featured Eavor’s Drilling Technology Manager Alex Vetsak in a livestream titled Powering Performance – Engineering with Data & the Energy Expansion. Vetsak outlined Eavor’s use of Insulated Drill Pipe (IDP) technology and the key advantages it offers when drilling hotter and deeper Next-Generation Geothermal wells. In the case of geothermal well construction, as he explains, hotter subsurface rock, allows for an increase in total energy output per well. Therefore, developers will always drill deeper to extract more heat from higher temperature sources.

In a Sierra Club magazine feature article, Eavor stood out as one of the key companies that left a lasting impression at the Geothermal Rising Conference held in Reno last year. Independent journalist Stephen Robert Miller attended the conference in October 2023 and had the opportunity to not only witness Eavor’s trademark Obelisk but also to converse with leaders in the geothermal industry, including Eavor CEO John Redfern. Miller attended the conference to better understand the current commercial and financial status of geothermal technology in the United States. He concluded that it holds exponential promise for the distribution of clean energy and can effectively help replace fossil fuels nationwide; however, there are policy and economic challenges it has yet to conquer.

Eavor recently announced a new partnership with Japanese construction giant Kajima Corporations, and since then, the “strategic alliance” gained attention from BNN Breaking. The BNN article written by María Alejandra Trujillo emphasizes the significance of this new investment and highlights how the partnership benefits both parties in their sustainability ambitions. Kajima’s investment to Eavor’s Series B funding has been described as a “pivotal moment” for Eavor that solidifies its global presence. Furthermore, it contributes vitality to Eavor’s strive in revolutionizing the energy sector.

Eavor’s Series B funding made noteworthy statistics in the Canadian Venture Capital Market Overview of 2023, a report written by the Canadian Venture Capital & Private Equity Association (CVCA). Eavor emerged as one of the two largest disclosed deals in the last quarter of 2023 and ranked among the top ten disclosed Canadian Venture Capital deals for the entire year. The company attracted early stage investments in Q4 that totaled $124 million from Canadian and international investors, and gained a total capital raise of $182 million for its Series B financing.