Press Releases

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”).

Deep Energy Capital, LLP (“Deep Energy”), an independent specialized renewable energy investment firm, and Eavor Technologies Inc. (“Eavor”), the preeminent advanced geothermal technology company, have agreed to develop, finance, construct and operate geothermal projects deploying Eavor’s advanced geothermal technology: Eavor-Loop™. Deep Energy will finance at least five projects, requiring up to €1 billion, from Eavor’s growing European and North American project pipeline. The projects will deliver continuous renewable power and heat and are expected to benefit from long-term feed-in-tariffs and fixed price off-take contracts underpinned by the growing value of resilient and local sources of clean energy.

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.

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.