Chubu Electric Power Co. Inc. Participating in World’s First Commercial Eavor-Loop™
Chubu Electric Power Co., Inc. (“CHUBU”) has decided to participate in the world’s first geothermal power generation and district heat supply Eavor-LoopTM project (the “Project”) by Eavor Technologies Inc. (“Eavor”) in Bavaria, Germany, and has entered into an agreement to obtain equity shares of Eavor Erdwärme Geretsried GmbH (“Geretsried Project Company”), the operating company of the Project.
CHUBU will acquire shares in the Geretsried Project Company in the near future. Eavor is a Canadian global startup company that leads the world in the research and development of closed loop geothermal technology (the “Eavor-Loop Technology”), with the aim of full commercialization. CHUBU has acquired shares in the company (as announced on October 14, 2022).
