Eavor GmbH recently announced a partnership with SWU Stadtwerke Ulm/Neu-Ulm GmbH, a municipal utility company that supplies the region with electricity, gas, water, heat, to explore implementing Eavor-Loop™ technology in the region and pave the way for Neu-Ulm and Senden to achieve local energy autonomy. This collaboration aligns with Neu-Ulm’s ambitious goal to decarbonize by 2040, a commitment emphasized by Mayor Katrin Albsteiger, who urges immediate action to achieve it.

Eavor’s Executive Vice President for North America Bailey Schwarz presented at the Diversity and Inclusion Session during the IADC/SPE International Drilling Conference 2024 in Galveston, Texas. An essential part of Eavor’s work culture is harnessing innovative ideas and working with the “best brains” in the industry. During an interview with Drilling Contractor Magazine, Schwarz explains Eavor’s dedication to looking beyond a narrow labour pool to create a diverse workplace with the skillsets that Eavor needs. Success and growth in a company, she elaborates, involves introspection and considering personal biases.

The geothermal electric power generation market is predicted to experience significant growth in the next decade, according to Intellectual Market Insights Research (IMIR). As per the report, the market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 5.9 percent, surpassing $16,293.14 million by 2032. Investments in new technologies are underway to enhance the accessibility of geothermal energy for electricity generation and other heating purposes. However, geothermal energy extraction is primarily feasible in regions with easy access to highly heated water sources.

The latest report titled Pathways to Commercialization Report from the U.S. Department of Energy (DOE) focuses on Next-Gen Geothermal as a clean energy source poised for tremendous growth. This report will be featured at the DOE’s virtual fireside chat and webinar next month. The report positions Next-Gen Geothermal as a key contributor to establishing secure, domestic, decarbonized power generation in the United States. Leveraging advancements that borrow from the oil and gas sector, these approaches engineer human-made reservoirs from abundant hot rock resources, eliminating the need to rely solely on naturally occurring reservoirs in niche geologies.

Scovan’s IGNITE magazine recently interviewed Michael Holmes, Eavor’s VP of systems engineering and strategy, to inquire about the company’s mission to enable local energy autonomy worldwide. As of August 2023, Eavor has inaugurated its first commercial project, Eavor-Europe™, in Geretsried, Germany. Holmes explains that this project is a “culmination of Eavor’s dedication and hard work” to innovate technology that scales reliable clean energy, and the journey to this commercial venture has been very fulfilling.

Eavor Vice President of Origination, Neil Ethier spoke with North America Outlook Magazine to shed light on Eavor-Loop™ technology and how this innovation is scaling clean baseload energy to global markets. This technology relies on the conductive method of heat transfer rather than the convective means that traditional geothermal and EGS systems utilize. This design means that Eavor does not require fracking techniques, has minimal water use, and is not associated with induced seismicity or discovery risk. Due to these factors, Ethier explains that Eavor’s technology has the potential to disrupt the global energy landscape profoundly. With a highly predictable output and dispatchable capacity, Eavor-Loop™ technology can be financed and scaled using standardized manufacturing approaches akin to wind or solar energy.