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.
Chubu Electric Power expanding clean energy ambitions in Indonesia
Chubu Electric Power, a Japanese energy giant and long-term investor in Eavor, announced its plan to explore geothermal investment opportunities in Indonesia. This financial backing could contribute substantial economic benefits and is anticipated to rapidly develop geothermal technologies in the geologically active region. According to the Alphaxioms article, leveraging Chubu’s expertise and financial support, Indonesia’s geothermal sector could be on the brink of significant expansion. Petromindo stated that Chubu’s expansion into Indonesia and collaborations with Eavor signify the company’s ambition to enhance its decarbonization strategy.
Eavor-Loop™ technology changing energy consumption in Germany
A recent article by ING stated that Eavor’s technology could enhance the way geothermal energy is used in the future, primarily because geothermal energy is “gentle on the landscape,” as operations are primarily subsurface. This allows the land to be renaturalized or repurposed once drilling is completed. Experts estimate that 50 to 75 percent of Germany’s heating needs could be met by using geothermal energy, covering up to a temperature of 120°C. This is especially significant considering that half of Germany’s energy demands are for heating or industrial purposes, with approximately 85 percent currently supplied by fossil fuels.
Canada joins the EU’s largest research organization to propel state-of-the-art innovation
A new agreement between Canada and the European Union (EU) was recently announced, offering Canadian and European professionals opportunities to collaborate in multiple research fields, including energy. Iliana Ivanova, European Commissioner for Innovation, Research, Culture, Education and Youth, and François-Philippe Champagne, Canadian Minister of Innovation, Science and Industry, signed the agreement allowing Canadian researchers and organizations to participate in Horizon Europe on equal terms with their EU counterparts. There are currently 155 Canadian entities participating under this program, with €1.9 million in grants given to Canadian partners.
Canada’s clean technology tax credits set to boost climate innovation
A recent article by Climate Insider discussed the benefits and long-term impacts of the federal government’s new investment tax credits on the Canadian cleantech sector. These credits are designed to encourage pro-environmental behavior change and scale the adoption of clean technology. The targeted areas for these credits include Clean Technology, Clean Technology Manufacturing, Carbon Capture, Utilization, and Storage (CCUS), and Clean Hydrogen. The article argues that these initiatives are pivotal in Canada’s strategy to achieve net-zero emissions by 2050.
Eavor’s closed-loop system is helping to unlock Earth’s vast untapped potential
An article published by Contrary delves into how geothermal energy stands as a near-inexhaustible resource and how Eavor is playing a key role in developing sophisticated geothermal technologies. The Earth’s core has been releasing energy since the planet’s formation 4.6 billion years ago, reaching a temperature of nearly 6000°C. This indicates that the potential of geothermal technologies is vast, and multiple Next-Generation Geothermal companies, including Eavor, are developing systems to utilize this power.
Eavor named one of the “new wildcatters” trailblazing a geothermal boom
The geothermal industry is transforming from a once-risky investment to a promising sector, according to an article written in Hart Energy. A key reason for this can be attributed to techniques borrowed from oil and gas companies, such as horizontal drilling and multi-well pads. The article detailed how Next-Generation Geothermal leverages advanced oil and gas technologies to extract heat from deeper and hotter rock, which requires more sophisticated engineering to access compared to conventional geothermal sources.
Deep geothermal increasing its potential to reshape district heating and cooling in North America
IDEA 2024 invited global energy professionals to discuss emerging innovations in the energy sector, with Ryan Martin, a development engineer at Eavor, presenting the benefits of Eavor-Loop™ technology for decarbonizing district energy networks. Some key challenges highlighted at the conference were the barriers to expanding existing electrical infrastructure and limited power availability to support full electrification across cities. To address this, cities are exploring creative methods to establish cleaner district energy networks that are less reliant on electrical energy sources.
Geothermal named as a favourite among emerging innovations in Europe
Next-Generation Geothermal was listed among the top four innovations in Europe that could compete globally, according to Siôn Geschwindt, climate and energy reporter at The Next Web. Geschwindt stated that Europe is striving to achieve ambitious climate targets while reducing reliance on foreign technologies. A recent report by the EU Institute for Security Studies has identified four key innovations with the potential to decarbonize Europe’s economy and enhance its technological sovereignty.
Eavor-Loop™ technology is said to be “the missing link” in the Clean Energy Revolution
Green Energy Futures featured Eavor’s systems, technology that is “innovative and elegantly simple,” in a YouTube video and online article. Jeanine Vany, VP of Corporate Affairs at Eavor, detailed the company’s use of the Organic Rankine Cycle (ORC) to harness the Earth’s heat. This process generates electricity within the power plant by using hot water to heat a working fluid with a lower boiling point than water, creating steam that drives a turbine. The video highlighted the Eavor-Lite™ project, which demonstrated Eavor’s unique ability to predict thermal output before drilling. Vany emphasized that this capability sets Eavor apart from conventional geothermal methods.
Eavor’s project in Tilburg receives a positive decision
Eavor’s project in Tilburg, Netherlands, has secured a positive decision from the Stimulation of Sustainable Energy Production and Climate Transition (SDE++). Commissioned by the Ministry of Economic Affairs and Climate Policy, the SDE++ initiative supports sustainable, agricultural, innovative, and international business endeavours that aim to reduce CO2 emissions through large-scale deployment of renewable energy technologies.
