Geologists Uncovering Areas in the UK with the Greatest Geothermal Potential
The past year has seen greater geothermal development in the UK, including the construction of the first geothermal plant, the launch of the UK’s First National Centre, and promising geological data being collected across central and southern England. Dr. Timothy Kearsey and his team at the British Geological Survey (BGS) have mapped Early Carboniferous limestones (ECLs) in this area, located approximately 4km deep. Kearsey’s research indicates that ECLs have the potential to become an important energy resource, as they offer substantial opportunities for deep geothermal energy. The article also states that energy from these formations has been successfully harnessed in Belgium and the Netherlands for heating networks. However, Kearsey emphasized that while these findings are promising, further research is needed for successful geothermal infrastructure development in the UK.
Resounding positivity for Eavor’s first-ever Partner Summit
Eavor successfully hosted its inaugural Partner Summit at the Geretsried site on September 11-12, bringing together current and prospective partners for an exclusive tour of Eavor’s first commercial project. The summit welcomed over 120 attendees from across the globe, including Japan, New Zealand, Taiwan, North and South America, and various European countries. With crucial support from Eavor GmbH, the event toured a diverse array of participants, from investors to vendors, government officials, business leaders, and researchers.
Eavor to support local grassroots efforts for sustainable solutions
Eavor has become Calgary Climate Hub’s newest sponsor, helping to foster grassroots efforts for local climate action within Calgary communities. As a Calgary-based clean energy company, Eavor recognizes the importance of fostering innovation to develop practical and pragmatic strategies for the future. Additionally, the company acknowledges the impact that local communities have in driving global change.
Immense potential for geothermal energy to revolutionize generated electricity
Eavor’s closed-loop technology, featured in an article detailing the significant benefits of advanced geothermal technology, is described as an example of innovative deep drilling methods that are making geothermal energy cost-effective and accessible. Written by Danilo Onorino, the global energy portfolio manager of Dogma Capital SA, the article highlights the importance of new deep drilling technologies in overcoming the challenges associated with accessing geothermal energy. Traditional geothermal methods often struggle with the hard, abrasive rock formations found at great depths, which can slow down drilling and increase costs.
Vickers Venture Partners “funding a better world” with Eavor
Dr. PohHui Chia, Director at Vickers Venture Partners, emphasized the firm’s mission to invest in deep tech companies that tackle critical global challenges while generating meaningful social and environmental impacts; and exemplified Eavor as a company that can help achieve those goals. The article explains Eavor’s aim to provide a clean, consistent energy source without emissions, fracking, or a significant surface footprint. Therefore, Eavor’s technology mitigates challenges traditional geothermal sources have faced in the past, the most prominent being global scalability.
U.S. fundraises $11B in venture capital to rapidly expand climate tech
The 2024 Future of Climate Tech report by Silicon Valley Bank highlights significant advancements in geothermal technology and the Department of Energy’s initiatives aimed at drastically reducing production costs, potentially establishing geothermal energy as a key baseload power source. The 2024 Future of Climate Tech report by Silicon Valley Bank highlights key trends and innovations in cleantech for the past year; notably, the Department of Energy’s (DOE) recent initiatives that could dramatically reduce geothermal production costs. Initiatives such as these could position geothermal technologies as a vital baseload power source.
Expanding geothermal in Germany is considered a “sustainable win-win” solution
An article written by Bundesverband Geothermie, aimed to promote their new municipal heat planning campaign, emphasizes the dual benefits of boosting the economy and creating climate-friendly energy solutions. This resource is believed to be especially promising for regions like Upper Rhine Graben, southern Germany, and Rhine-Ruhr. To utilize this, the article argues that municipal heat plans are crucial, placing the responsibility on cities and municipalities. Geothermal energy is said to be integral to these plans due to its significant potential for decarbonization.
Eavor helps propel Calgary to become one of Canada’s top venture capital hubs
The Calgary Herald recently reported that Alberta is surpassing British Columbia in securing venture capital investments this year, with Eavor recognized as a leading company that is assisting in driving this influx of capital. According to a report from the Canadian Venture Capital Association (CVCA), Alberta secured $383 million through 41 deals in the first half of the year, compared to B.C.’s $288 million across 43 deals. This has allotted Alberta as one of the top three provinces, along with Ontario and Quebec, attracting the most venture capital in Canada.
Future law aims to expedite geothermal development in Germany
According to Reuters, A new law is being drafted in Germany to expedite the approval process for new geothermal opportunities, according to an article in Reuters. This new law aims to increase the development of geothermal plants, heat pumps and heat storage systems to gradually replace fossil fuels in the country’s heating system by 2045. In alignment with this initiative, Eavor has partnered with Hanover-based sustainable energy company enercity, signing a heat supply agreement that marks a significant step forward in achieving a cleaner heating system for Germany. The project will provide up to 30MW of geothermal power annually, supplying 250 million kilowatt hours of heat to around 20,000 homes starting in 2026.
Climate Positive Podcast Featuring Jeanine Vany: Eavor-Loop™ – the Underground Underdog
As the accelerating deployment of variable wind and solar resources pushes us ever closer to Net Zero – or the state whereby we’re not emitting any more greenhouse gas emissions into the atmosphere than we are simultaneously removing – we increasingly need to deploy both battery storage as well as dispatchable renewable baseload generation. But despite its ability to serve as dispatchable renewable baseload, geothermal energy today accounts for less than 1% of the world’s primary energy supply.
Eavor considered a “high-reward” contender to revolutionize geothermal energy
Emissions Reduction Alberta’s (ERA) new documentary, celebrating 15 years of funding groundbreaking clean technologies, features CEO John Redfern and highlights how ERA’s investment helped export Eavor’s Next-Generation Geothermal technology to the world. With an initial $1 million investment from ERA for testing at Eavor-Lite™, Eavor was then able to secure venture capital, gather hundreds of millions in investments, and commence a commercial project in Germany.
Eavor extracting heat that could be used to “solve the climate crisis”
The June 2024 issue of Aventine’s newsletter featured an interview with CEO John Redfern, highlighting the technological and investment breakthroughs Eavor has achieved to unlock vast energy potential. Geothermal energy has been considered a niche power source for decades; however, thanks to innovations borrowed from the oil and gas industry, Next-Generation Geothermal plants are harnessing this energy source with greater efficiency.
