An opinion piece by Susan Rohac, Managing Partner of the Climate Tech Fund at BDC Capital, listed Eavor as a company Canada can look to for inspiration on drastically reducing CO2 emissions and achieving net-zero goals. After Canada soared to second place on the Global Cleantech Innovation Index in 2021, 12 of the top 100 spots on the Cleantech Group’s 2022 Global Cleantech 100 were Canadian companies, Eavor being one of them. The article attributes this as an impressive achievement considering that Canada only produces 1.4 percent of the world’s GDP.

Energy Stream’s livestream featured Geothermal Rising Executive Director Bryant Jones in an insightful discussion about why oil and gas collaboration with geothermal projects is critical to the future of cleantech. In the discussion, Jones listed Eavor as one of the companies that is showing the world that geothermal is a mature, proven, “now and anywhere” solution that is ready to be deployed.

Eavor made HolonIQ’s North America Climate Tech 200 list of most promising startups that work in new energy, the environment, and sustainability. HolonIQ, a leading global data and insight platform, serves as a global hub of data and insights to inform decisions and actions across international platforms, including NGOs, universities, multinational corporations, and technology and finance companies.

The Calgary Herald and The Globe and Mail recently published articles pertaining to Eavor’s press conference, highlighting the milestone first investment from the Canada Growth Fund (CGF) into Eavor. A $90m fund into Eavor represents approximately half of its $182m Series B funding round. This fund will allow the company to scale up its business, retain autonomy over intellectual property, and keep its headquarters in Calgary. Furthermore, it will amplify opportunities for local professionals to find careers with Eavor and its networks.

On October 17, 2023, the Minister of Environment and Protected Areas, Rebecca Schulz, announced the Emerging Innovators Challenge (EIC) in conjunction with Emissions Reduction Alberta (ERA) CEO Justin Riemer. The EIC will administer $40 million to support small and medium-sized enterprises (SMEs) as well as Indigenous communities scale-up, pilot, and demonstrate first-of-a-kind projects that enhance emissions reduction. Previous ERA funding mechanisms akin to the EIC, which Eavor successfully applied for, played an imperative role in commercialization, catalyzing the Eavor-Lite™ prototype near Rocky Mountain House. Jeanine Vany, Eavor’s Executive Vice President of Corporate Affairs, was pleased to validate the importance of this initiative and lend endorsement to the Government of Alberta and ERA.

SustainablEarth Power Youtube channel broadcasted Eavor’s closed-loop technology in a new video, advocating how Advanced Geothermal Systems (AGS) are a disruptive and transformative technology that has the potential to become a “globally significant solution for clean electricity.” AGS has many advantages over traditional geothermal technologies. Its technology mitigates many challenges and risks associated with drilling systems that traditional geothermal and oil and gas companies use, such as exploratory risk and induced seismicity. Being a form of AGS, this gives Eavor-Loop™ technology the means to be implemented almost anywhere on the planet, as there is a nearly endless supply of heat in the Earth’s mantle continuously heating the bedrock beneath our feet.