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Press Releases

The Past, Present and Future

Learn more about company announcements, new additions to the team, partnerships and other company news.

Eavor Applauds DOE’s Liftoff Report Focused on Next Generation Geothermal

CALGARY, Alberta, Canada – Eavor Technologies Inc., an advanced geothermal or closed-loop energy company, praised the Department of Energy’s (DOE) “Pathways to Commercial Liftoff: Next-Generation Geothermal Power,” which provides a roadmap for advancing next-generation geothermal power. The report is the latest installment in the “Pathways to Commercial Liftoff” series that “provide[s] public and private sector capital allocators with a perspective as to how and when various technologies could reach full-scale commercial adoption,” according to DOE.

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Japan’s Kajima Corporation Makes Direct Investment in Eavor Technologies Inc.

CALGARY, Alberta, Canada and TOKYO, Japan – February 20, 2024 – Eavor Technologies Inc. (“Eavor”), the leader in globally scalable geothermal energy technology, has entered into an agreement with Kajima Corporation (“Kajima”) to receive a direct investment into the company. The investment by Kajima demonstrates Eavor’s ability to attract capital from various entities and develop key partnerships with industry leaders worldwide.

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INSEAD acknowledges Eavor CEO John Redfern with their sustainability award for 2023

CALGARY, Alberta, Canada and SAN FRANCISCO, California, December 21, 2023 – The Co-Founder, President and CEO of Eavor Technologies Inc. (“Eavor”), the leader in globally scalable geothermal closed-loop technology, has been awarded the inaugural INSEAD Business Sustainability Award at the INSEAD Americas Conference of 2023. Redfern’s achievement demonstrates dedication to building more sustainable business models and solutions. This recognition assists in acknowledging efforts to meet sustainability objectives, and that clean technology is at the forefront of innovative thinking and investment opportunities.

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Capital Raise of $182 Million Confirms Eavor as the Leader in Scalable Geothermal

Calgary, Alberta, Canada – Oct 25, 2023 – Eavor Technologies Inc., (“Eavor”) a pioneer in the field of
advanced geothermal energy solutions today announces the successful completion of $182 million in
financing. This significant investment will enable Eavor to accelerate the development and deployment
of its revolutionary geothermal technology. The equity round was led by OMV AG, with participation
from Canada Growth Fund (“CGF”), Japan Energy Fund, Monaco Asset Management and Microsoft’s
Climate Innovation Fund. Existing investors BDC, bp Ventures, Eversource Energy, Temasek and Vickers
Venture Partners contributed and supported the funding round, while Chubu Electric Power Co., Inc.
completed the conversion of their debentures.

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U.S. Defense Department Awards Eavor Contract to Power Military Base through Advanced Geothermal System

CALGARY, Alberta, Canada and SAN ANTONIO, Texas – Oct. 3, 2023 – Eavor Inc. (“Eavor”), the leader in globally scalable geothermal closed-loop technology, has been awarded a contract with the U.S. Air Force to provide Eavor-Loop™ generated geothermal energy to the Joint Base San Antonio facility in Texas. Eavor will assume a leadership role in contract execution, guided by the oversight of the Air Force Office of Energy Assurance, and partner with Chesapeake Energy (NASDAQ:CHK) providing its technical and operational expertise.

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