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.
