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.

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.

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.

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.

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.

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.