Eavor’s next-generation geothermal project awarded €91,6 million grant from the European Innovation Fund
Munich, Bavaria, Germany – March 9th, 2023 – Eavor Technologies Inc. and Eavor Erdwärme Geretsried GmbH (together “Eavor”), the leader in globally scalable geothermal closed-loop technology, has been awarded a €91,6 million grant from the European Innovation Fund (“EIF”), in support of the Eavor-Europe™ geothermal project already under construction in Bavaria south of Munich near the town of Geretsried, Germany. The project is the world’s first commercial implementation of an Eavor-Loop™, a showpiece of the zero-emissions heat and power production capabilities of next-generation geothermal technology, and a flagship site for the fundamental ability of Eavor-Loop™ to provide energy security and autonomy, globally. Construction began in October 2022, with drilling scheduled to commence in July 2023. Two of Europe’s largest drilling rigs are already under a four-year contract with KCA-Deutag. An Organic Rankine Cycle (“ORC”) power plant is being designed and constructed simultaneously with drilling operations in collaboration with Turboden S.p.A., with the first energy production scheduled for Q4, 2024.
The treasure at Geretsried
Bavarian state politicians show strong interest in Eavor‘s innovative geothermal energy. Ba-varia‘s Minister of the Environment Thorsten Glauber and Florian Streibl, Chairman of the Freie Wähler faction in the Bavarian State Parliament, visited Geretsried to find out more about the Eavor-Loop™ and emphasized the importance of technology openness in the en-ergy transition. The two politicians were received by Daniel Mölk, Managing Director of Eavor Germany and Europe and of the project company Erdwärme Geretsried GmbH. He explained to the visitors the uniqueness and the many advantages of the loop technology developed by Eavor in geothermal energy. Glauber and Streibl were delighted that Eavor had chosen the Bavarian town of Geretsried as the site for the world’s first commercial geothermal power plant using Eavor-Loop™ technology. In addition to the clean and safe energy yield, they also expect economic stimulus for the region.
Success at Eavor’s New Mexico project triggers follow-on strategic investments
CALGARY, Alberta, Canada – January 30th, 2023 – Eavor Technologies Inc. (“Eavor”), a leader in globally scalable geothermal technology, is pleased to announce the successful completion of its next generation geothermal demonstration project in New Mexico, USA: Eavor-Deep™. Beginning in August and concluding in December of last year, after having drilled a two-leg multilateral well down to 18,000’ TVD and ~250°C, Eavor met its objectives, including achieving technical milestones which have drawn a follow-on investment of $10 million CAD from bp Ventures (“bp Ventures”).
Groundbreaking ceremony for the drilling site of the Eavor-Loop™ project in Geretsried
The ceremonial groundbreaking of the drilling site in Geretsried today marks the official start of construction for the world’s first commercial geothermal project using Eavor-Loop™ technology
Eavor is proud to announce that Yuta Kano joining our board of directors
Yuta Kano of Chubu Electric Power Co., Inc. will be joining the Eavor Board of Directors to aid in the navigation of Eavor’s continued growth and global expansion into 2023 and beyond.
Chubu Electric Power Acquires Strategic Stake in Eavor Technologies Inc.
Eavor Technologies Inc. (“Eavor”), the leader in globally scalable geothermal technology, is pleased to announce that Chubu Electric Power Co., Inc. (“CHUBU”) has entered an agreement to make a direct investment in Eavor and support the commercialization of Eavor-Loop™ technology.
KCA Deutag & Eavor GmbH Sign Contract to Drill Revolutionary Geothermal Power Project
DÜSSELDORF, Germany – Leading drilling, engineering and technology company KCA Deutag has announced that it has signed a contract with EAVOR ERDWÄRME GERETSRIED GmbH (“Eavor”) to provide two drilling rigs for the construction of Eavor’s first commercial Eavor-Loop™ system.
Eavor to drill the deepest and hottest directional geothermal well in history: Eavor-Deep™
Eavor Technologies Inc. (“Eavor”) is pleased to announce the commencement of their demonstration project to drill the deepest and hottest directional geothermal well in history (called Eavor-Deep™).
Eavor selects Turboden as supplier for development of power plant to be deployed with closed-loop geothermal system in Germany
Eavor, the leader in scalable geothermal energy, has selected Turboden S.p.A. (“Turboden”) for the development of their project in the South of Germany in Geretsried (Bavaria). This investment in Turboden’s Organic Rankine Cycle (“ORC”) system will be used in the first commercial Eavor-Loop™ project harnessing heat from the Earth to deliver electricity to the local market.
Eavor is Excited to Welcome Dr. Jesse Jenkins to the Advisory Board
Eavor would like to welcome Jesse Jenkins as the newest member of its Advisory Board! Mr. Jenkins is a macro-scale energy systems engineer with a focus on the rapidly evolving electricity sector, including the transition to zero-carbon resources, the proliferation of distributed energy resources, and the role of electricity in economy-wide decarbonization. We are looking forward to working with such a distinguished individual.
Eavor Would Like to Welcome Two New Members to its Advisory Board
17 February 2021, Calgary: Eavor would like to welcome two new members to its Advisory Board! Dr. Malcolm Ross, a renowned Black Swan Detector, and Dr. Eric van Oort, a Closed-Loop Geothermal enthusiast, will be joining Eavor’s advisory team. We look forward to working with these distinguished members of the clean energy community. Dr. Malcolm […]
Global energy majors lead pivot to Eavor’s geothermal solution with USD$40 million investment
Eavor’s solution is the world’s first truly scalable form of clean dispatchable power This investment will support Eavor’s aim to power the equivalent of 10 million homes by 2030 Investors in this round Include: bp Ventures, Chevron Technology Ventures, Temasek, BDC Capital, Eversource and Vickers Venture Partners 16 February 2021, Calgary: Eavor Technologies Inc., the […]
