Geothermal is estimated to be near a “breakthrough” that could accumulate US$1 trillion in investments by 2050, according to a recent article published by Wood Mackenzie. While conventional geothermal is restricted to niche geologies that have a high thermal gradient at a shallow depth, Next-Generation Geothermal has the capacity to be implemented across the planet. In Eavor’s case, Eavor-Loop™ systems can extract energy from zero permeability rock with an average thermal gradient, which is more common to find in subterranean landscapes.

An article in the National Observer, an opinion piece that advocates for geothermal as a replacement for fossil fuels in Canada’s district heating networks, highlights Eavor as a key entity in a transition to zero-carbon energy. Within the context of climate change and Canada’s environmental policies, the article affiliates Next-Generation Geothermal as the main contender to seamlessly reduce emissions and provide clean energy that’s always-on.

Geothermal energy has become one of the fastest-growing non-mainstream clean energy technologies in the world, according to S&P Global Commodity Insights. While conventional methods for harnessing geothermal power have been limited by geographical and geological constraints, next-generation technologies have innovated to unlock virtually unlimited potential. Over the past three years, the rise of start-up companies and substantial investments from major energy players underscores the rapid growth of next-gen geothermal. These advancements have raised over $630 million in funding and garnered support from leading global energy companies.

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.

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.

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.