Eavor signs a geothermal action plan in the Netherlands
In an ongoing effort to develop clean and reliable energy for the Netherlands, Eavor has recently signed an action plan to accelerate geothermal energy in North Brabant. This initiative, driven by the province of North Brabant, the municipality of Helmond, and the Dutch government -owned company EBN B.V., aims to accelerate geothermal energy production in the region. Initiatives outlined in the action plan will focus on areas such as addressing obstacles in the Ruhr Valley, enhancing geological data accuracy, mitigating financial risks, and optimizing existing heating networks for sustainability. Additionally, the plan includes research into the potential of shallow geothermal energy.
Eavor’s CBO Paul Cairns demonstrates investment potential of Eavor’s technology
An opinion piece written by Eavor’s Chief Business Development Officer Paul Cairns was recently published in The Future Economy, highlighting the vast potential of investing in Eavor’s technology. In the context of a growing energy demand worldwide, the International Energy Agency stated that the world requires an excess of C$20 trillion of investment in energy supply to meet this pressing demand. Furthermore, BlackRock has stated that the Sustainable Development Goals are calling for an increase in renewable energy investment by the end of this decade to address this issue.
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.
Eavor-Europe™ paving a path for geothermal’s increased global competitiveness
Eavor EVP – Corporate Affairs Jeanine Vany and Chief Technology Officer Matt Toews draw parallels between Bavaria and Alberta to demonstrate insights about learning curves and setting regulatory foundations. In an article written for the Daily Oil Bulletin, Vany explains Eavor’s learning-by-doing process that has been central to developing projects, one that the oil and gas industry has used for decades. She emphasized the wealth of subsurface data in Germany which ultimately allowed for Geretsreid well planning and execution and described the significance of leveraging real time drilling data to make future drilling cheaper and more efficient on a project times scale.
Eavor at the World Economic Forum 2024
CEO John Redfern and Executive VP Origination Robert Winsloe attended the World Economic Forum (WEF) 2024 in Davos, where they were invited to participate at the first ever geothermal roundtable. Alongside the roundtable, Redfern and Winsloe engaged with an array of influential entities such as Bloomberg, bp, INSEAD, and were invited to attend the Sustainable Development Goals forum. These discussions help Eavor to foster insightful exchanges with key stakeholders and share Eavor’s perspective with prominent organizations.
Eavor becomes the #1 geothermal energy startup company in the world
A new update from energystartups.org places Eavor as the top geothermal energy startup in the world, a monumental achievement underlined by $365.3 million in accumulative funding. Eavor has garnered generous investments from global energy investors, developers, and venture capital funds since its inception, including Vickers Venture Partners, bp Ventures, Chubu Electric Power, BDC Capital, Chevron Technology Ventures, BHP Ventures, Helmerich & Payne, Precision Drilling, OMV, the Canada Growth Fund (CGF), and Microsoft.
Eavor CEO John Redfern was interviewed by QR Calgary’s The Drive.
Redfern described how Eavor’s origins are rooted in repurposing abandoned oil wells in Alberta, and how the company leveraged oil and gas expertise to galvanize the success of closed-loop geothermal. Global underutilization of geothermal prompted Eavor’s team to challenge notions of high costs and risks associated within the sector, aiming to demonstrate how geothermal technology can be scaled globally.
Boosting Next-Generation Geothermal in the United States
An article written by the Federation of American Scientists delves into how the United States has vast potential to utilize next-generation geothermal technologies, and proposes how to navigate challenges that are limiting the financial feasibility of geothermal. According to the article, the U.S. power grid is undergoing a transformative shift towards cleaner energy, mostly by increasing integration of wind and solar. However, to achieve full-scale decarbonization, it’s necessary to implement geothermal energy into the new energy ecosystem.
Time Magazine Discusses Overlapping Expertise Between Geothermal and Oil & Gas
A recent feature article in Time Magazine’s CO2 Futures series showcased the growing discussion around next-generation geothermal technologies, and how there’s a growing necessity to implement oil and gas expertise to rapidly scale geothermal energy. The article indicates that this necessity is born from limitations that have historically held geothermal back from being a viable baseload alternative to fossil fuels. Traditionally, geothermal power has proven cost-effective in regions with hot rocks close to the earth’s surface, such as the edge of the continental plate in California. Yet, this geographical niche has confined geothermal to a minor role in decarbonization efforts, constituting only 1.6 percent of the United States’ energy mix.
Globe and Mail discusses Eavor’s innovative patented technology with John Redfern
In a recent interview with the Globe and Mail, Eavor CEO John Redfern delves into the company’s patented technology and how it has been instrumental in achieving commercial success in a new age of geothermal exploration. The article describes how Eavor’s head office tells a unique story through the many patents on its walls, where each plaque signifies a trailblazing insight. Unlike wind and solar, Redfern explained that there was a stagnation of innovative breakthroughs for geothermal energy over the last several decades, and this held geothermal back from scaling globally.
Eavor Maintains Prestigious Placement Among the Global Cleantech Top 100
For the second consecutive year in a row, Eavor has solidified a position among the top energy and power companies in the Global Cleantech 100 list of 2024. Eavor was also mentioned in the Trend Watch 2024 page, where it was listed as five of the forty-two energy and power companies that garnered investments from the Microsoft Climate Innovation Fund.
CBC Deems Upcoming Years to be Geothermal Energy’s “Hottest Decade Yet”
A recently published CBC article demonstrates great optimism for Canadian geothermal in the upcoming decade due to technological advancements, dubbing geothermal a “long-overlooked climate solution.” Eavor CEO John Redfern explains that knowledge of geothermal’s vast sources across the country has been known for a long time; however, economic viability to reach high temperatures in the subsurface was lacking, and restricted expansion.
