Apr 29, 2021
Cormark Securities - Bringing The Heat: Geothermal Comes To Western Canada
The Cormark Securities new geothermal energy paper entitled “Bringing The Heat: Geothermal Comes To Western Canada” covers and demonstrates detailed breakdowns of the ins and outs of basic geothermal energy understanding, as well as the types of rich resources the industry and its players are focusing on and harvesting.
“Though in its infancy, western Canada’s geothermal heat industry is already the nucleus for geothermal development in the country. The hydrocarbon industries drilling techniques have been exported to the geothermal industry and to great effect.”
The paper has brought together some background on the topic from Cormark’s Strategist in Environmental Sustainability, MacMurray Whale, with notes on recent ESG initiatives in the Canadian oilpatch from our oil and gas analyst, Garett Ursu, providing a better understanding and grasp of the new and ever-evolving umbrella that is the geothermal energy industry.
This evolution is best seen with Eavor Technologies. Founded in 2017, Eavor’s developed patented technology has had exponential growth and implementation in the field via the production of their Eavor-lite™ demonstration site near Rocky Mountain House in 2019. This coupled with Eavor’s ever-growing stakes and investments from the international oil majors is further proof of the tangible gains and benefits of Geothermal Energy both environmentally and financially.
The future of western Canada’s geothermal energy sector is rapidly on the rise. Over time, geothermal energy could theoretically change our economic landscape forever. This is not a pipe dream, but a reality, one that is shared by the key players in this industry and one that is highlighted to great care, detail, and dedication in this Cormark industries Paper 'Bringing The Heat'. For those interested in learning more, Attached below is the full 38-page document in its entirety.