Chubu Electric’s plan to acquire approximately 40 percent stake in Eavor Technologies was recently signified in an article written by Andrew Lee of Recharge News. Last year, Chubu purchased a stake of approximately 20 percent in the company, aligning itself with prominent investors such as BP and Chevron, in support of Eavor’s pioneering efforts. Chubu’s additional investment is a significant milestone in Eavor’s ambitions to produce approximately 8MW of electric power and district heating transfer rate of 64MW in the region. In a recent press release from Chubu Electric, Hiroki Sato, division CEO of global business at Chubu, said: “This is a significant milestone not only for Chubu but also the journey of climate neutrality towards our global target on this planet. I am convinced that the Eavor-Loop™ Technology would be a true game-changer for the enhancement of renewable energy, and Chubu is very excited to be working with Eavor through the world‘s first Eavor-Loop™ commercial project at Geretsried in Germany.”