Bipartisan support fuels geothermal growth amid leasing challenges
An article in Semafor describes the evolving circumstance of leasing land for geothermal energy development in the U.S. Despite geothermal’s potential to provide reliable, low-emission energy, the Utah auction saw only one of three plots receive bids. Ormat Technologies, a Nevada-based energy developer, secured the lease for just $2 per acre. Analysts attribute the lacklustre outcome to the plots’ remote, mountainous location and relatively low geothermal temperatures, which can limit economic viability.
Eavor’s innovation promises significantly higher growth than previous predictions
A detailed report from the Daily Oil Bulletin highlights how Eavor’s cost estimates could surpass the growth projections made by major energy forecasters. While institutions such as the International Energy Agency (IEA), Shell, and Wood Mackenzie predict moderate growth in geothermal capacity, Eavor’s technological innovations suggest that the sector could experience more significant expansion than previously anticipated.
Eavor’s success indicates opportunities to expand Canadian cleantech investment
A Globe and Mail feature article recently indicated a persistent challenge for Canadian cleantech startups: difficulty securing financial backing within Canada. Eavor, like many others, was pushed to seek international investments to scale its operations.
Eavor’s push to unlock deep geothermal energy
A recent BBC article discusses how next-generation geothermal companies, such as Eavor, are overcoming the challenge of tapping into the earth’s near-limitless energy.
Bipartisan support for geothermal strengthens in the U.S.
A recent report from Heatmap indicates geothermal energy’s unique bipartisan appeal in the U.S. and how it can be an energy solution that transcends ideological divides. “Geothermal has something to offer everyone,” said Aidan Mackenzie, a fellow at the Institute for Progress, to Heatmap.
Groundbreaking IEA Report Highlights Geothermal’s Critical Role in a Clean Energy Future
CALGARY, Alberta, Canada – In a new report, the International Energy Agency’s (IEA) makes clear geothermal energy’s potential to contribute to a 100% clean energy grid. The report highlights how innovations in enhanced geothermal systems (EGS), advanced geothermal systems (AGS), and superhot rock technologies are expanding the accessibility and scalability of geothermal power across the globe.
From petroleum to geothermal: Eavor’s path to commercialization
As the keynote speaker at the Energi Gala in Banff, AB, Eavor co-founder Jeanine Vany shared the company’s journey in commercializing energy security. Drawing on her 15 years of experience in oil and gas, Vany highlighted how the Eavor team has roots in leveraging expertise from the petroleum sector to develop scalable geothermal systems.
Canadian closed-loop geothermal spotlighted in Geretsried
Global News broadcasted a feature detailing Eavor’s first commercial project in Geretsried, Germany, highlighting its potential to provide heat and power to up to 20,000 homes in the region.
Geothermal listed as crucial for the global development of clean energy
A summary of the energy landscape in 2024 has noted advancements across various sectors, with Advanced Geothermal Systems (AGS) being listed as a key energy resource that can scale globally.
“No end date:” How Eavor will provide energy for 100+ years
Eavor CEO John Redfern elaborates in an interview with Canada’s National Observer on how Eavor-Loop™ technology can provide clean power for every town and country for decades. “We know exactly how much power is going to be produced for at least the 30 years we have modelled and with a confident prediction for 100 years or more. Our name comes from the word ‘endeavour’ without the first syllable ‘end.’ Our work has no end date,” stated Redfern.
Next-Gen Geothermal “on the cusp” of global success
An article written by nature.com attributes advancements in technology and growing policy support to the impending widespread success of next-generation geothermal energy. While drilling costs remain high—each borehole costing millions—experts predict expenses will decline as the technology scales.
Alberta government announces $50M investment in first-ever Canadian drilling test site
The Alberta government has committed $50 million to establish the Alberta Drilling Accelerator (ADA), Canada’s first test site dedicated to advancing drilling technologies.
The ADA will support industries such as geothermal energy, lithium, and carbon capture, offering an open-access site for testing innovative technologies in high-temperature subsurface conditions across various rock formations. Eavor, alongside Halliburton and Tourmaline Oil Corp., is among the companies expressing interest in becoming anchor tenants for the project.
