Eavor CEO John Redfern was interviewed by QR Calgary’s The Drive.
Redfern described how Eavor’s origins are rooted in repurposing abandoned oil wells in Alberta, and how the company leveraged oil and gas expertise to galvanize the success of closed-loop geothermal. Global underutilization of geothermal prompted Eavor’s team to challenge notions of high costs and risks associated within the sector, aiming to demonstrate how geothermal technology can be scaled globally.
Boosting Next-Generation Geothermal in the United States
An article written by the Federation of American Scientists delves into how the United States has vast potential to utilize next-generation geothermal technologies, and proposes how to navigate challenges that are limiting the financial feasibility of geothermal. According to the article, the U.S. power grid is undergoing a transformative shift towards cleaner energy, mostly by increasing integration of wind and solar. However, to achieve full-scale decarbonization, it’s necessary to implement geothermal energy into the new energy ecosystem.
Time Magazine Discusses Overlapping Expertise Between Geothermal and Oil & Gas
A recent feature article in Time Magazine’s CO2 Futures series showcased the growing discussion around next-generation geothermal technologies, and how there’s a growing necessity to implement oil and gas expertise to rapidly scale geothermal energy. The article indicates that this necessity is born from limitations that have historically held geothermal back from being a viable baseload alternative to fossil fuels. Traditionally, geothermal power has proven cost-effective in regions with hot rocks close to the earth’s surface, such as the edge of the continental plate in California. Yet, this geographical niche has confined geothermal to a minor role in decarbonization efforts, constituting only 1.6 percent of the United States’ energy mix.
Globe and Mail discusses Eavor’s innovative patented technology with John Redfern
In a recent interview with the Globe and Mail, Eavor CEO John Redfern delves into the company’s patented technology and how it has been instrumental in achieving commercial success in a new age of geothermal exploration. The article describes how Eavor’s head office tells a unique story through the many patents on its walls, where each plaque signifies a trailblazing insight. Unlike wind and solar, Redfern explained that there was a stagnation of innovative breakthroughs for geothermal energy over the last several decades, and this held geothermal back from scaling globally.
Eavor Maintains Prestigious Placement Among the Global Cleantech Top 100
For the second consecutive year in a row, Eavor has solidified a position among the top energy and power companies in the Global Cleantech 100 list of 2024. Eavor was also mentioned in the Trend Watch 2024 page, where it was listed as five of the forty-two energy and power companies that garnered investments from the Microsoft Climate Innovation Fund.
CBC Deems Upcoming Years to be Geothermal Energy’s “Hottest Decade Yet”
A recently published CBC article demonstrates great optimism for Canadian geothermal in the upcoming decade due to technological advancements, dubbing geothermal a “long-overlooked climate solution.” Eavor CEO John Redfern explains that knowledge of geothermal’s vast sources across the country has been known for a long time; however, economic viability to reach high temperatures in the subsurface was lacking, and restricted expansion.
The Canada Growth Fund is catalyzing a booming clean economy in Canada
Canada Growth Fund’s (CGF) investment into Canadian cleantech is estimated to catalyze more homegrown innovations, and according to a Canadian Bar Association publication, this will establish a new structure in energy legal frameworks. Elizabeth Burton, Gowlings WLG’s financial services practice group leader in Calgary, expresses excitement about this future circumstance, highlighting the CGF’s potential to cultivate a distinct Canadian expertise in technology development.
Icelandic project aims to drill into a volcano to access unprecedented geothermal power
The hottest temperatures ever reached by a geothermal project could happen as early as 2026 in Iceland, where the Krafla Magma Testbed (KMT) aims to tap into the Krafla volcano’s magma chamber to access super-hot fumes. If successful, the article states that this project could promise immense geothermal energy at an unprecedented scale for Iceland’s population, at least ten times more power than conventional geothermal plants.
Research Into Methods of Utilizing Energy From Superheated Rock Took Center Stage at the 2023 Geothermal Rising Conference
An article published on SciTechDaily emphasized that the ability to extract energy from superhot rock has the potential to “change everything” in the renewable energy landscape. The article, written by Quaise Energy’s Elizabeth Thompson, highlighted that tapping into heated rock several miles into earth’s subsurface was a major topic at the Geothermal Rising Conference of 2023, as showcased in 18 individual papers.
Eavor Featured in Colliers’ Canadian Tech Occupiers Guide
Eavor’s pivotal role in Calgary’s cleantech expansion has garnered recognition from both Nate Glubish, the Minister of Technology and Innovation at the Government of Alberta, and has been highlighted in a comprehensive report by Colliers. This acknowledgment signifies Eavor’s leading contribution to Calgary being the fastest-growing digital innovation hub in Canada. As a result, the city is witnessing heightened interest from investors.
Robert Winsloe Delves Into Eavor’s Growing Pursuit for Global Success
In an article published in Newsweek, Eavor Executive VP Origination Robert Winsloe describes Eavor’s evolving global viability and widespread appeal. Winsloe explains that rather than relying on hot aquifers, which accounts for about 5 percent of the world’s surface, Eavor’s approach is to harness heat that is accessible across the planet; heat from hot subterranean rock. This makes Eavor’s technology globally scalable, with the possibility to implement local energy autonomy almost anywhere in the world.
msn.com amplifies Eavor’s strive to solve the “geothermal puzzle”
InsideHook delves into Eavor’s mission to revolutionize the energy landscape in a feature article published on http://msn.com , detailing the company’s co-founders’ strategic approach to overcoming geothermal energy limitations and scaling it globally.
