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U.S. fundraises $11B in venture capital to rapidly expand climate tech

The 2024 Future of Climate Tech report by Silicon Valley Bank highlights significant advancements in geothermal technology and the Department of Energy’s initiatives aimed at drastically reducing production costs, potentially establishing geothermal energy as a key baseload power source. The 2024 Future of Climate Tech report by Silicon Valley Bank highlights key trends and innovations in cleantech for the past year; notably, the Department of Energy’s (DOE) recent initiatives that could dramatically reduce geothermal production costs. Initiatives such as these could position geothermal technologies as a vital baseload power source.

Expanding geothermal in Germany is considered a “sustainable win-win” solution

An article written by Bundesverband Geothermie, aimed to promote their new municipal heat planning campaign, emphasizes the dual benefits of boosting the economy and creating climate-friendly energy solutions. This resource is believed to be especially promising for regions like Upper Rhine Graben, southern Germany, and Rhine-Ruhr. To utilize this, the article argues that municipal heat plans are crucial, placing the responsibility on cities and municipalities. Geothermal energy is said to be integral to these plans due to its significant potential for decarbonization.

Eavor helps propel Calgary to become one of Canada’s top venture capital hubs

The Calgary Herald recently reported that Alberta is surpassing British Columbia in securing venture capital investments this year, with Eavor recognized as a leading company that is assisting in driving this influx of capital. According to a report from the Canadian Venture Capital Association (CVCA), Alberta secured $383 million through 41 deals in the first half of the year, compared to B.C.’s $288 million across 43 deals. This has allotted Alberta as one of the top three provinces, along with Ontario and Quebec, attracting the most venture capital in Canada.

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