We wanted to know what the Eavor team had to say about their transition from Oil and Gas to Geothermal. This is their story.

As a part of Vickers Venture Partners’ portfolio companies, Managing Director Vadim Shpak platformed Eavor’s venture to create a “groundbreaking partnership” with the US Air Force to establish energy security within the Joint Base San Antonio (JBSA). Additionally, Shpak commended the US Air Force for “embracing future-forward solutions,” as it backs Eavor’s diligence in being a leader in innovative cleantech.

The Eavor team recently visited the Joint Base San Antonio (JBSA) to begin a geothermal prototype project at the base; a first-of-its kind said to mark history in the making according to U.S. Air Force Brig. Gen. Russell D. Driggers, JBSA and 502nd Air Base Wing commander. Driggers emphasized the importance of forward-thinking and the exploration of diverse, resilient energy sources to mitigate emissions, bolster security, and ensure sustainable operations for the long term. The pilot project at JBSA is viewed as a potentially major stride in achieving these goals.

CBC Radio-Canada recently interviewed Eavor CEO John Redfern and Development Engineering Manager Chris Cheng, platforming Eavor’s closed-loop system and how it’s poised to revolutionize the geothermal landscape. The interview, which included a visit to the Eavor-Lite™ facility near Rocky Mountain House Alta., offered a firsthand look at the practical application of the technology. At the site, Cheng detailed the operational success of Eavor-Lite™ over the past four years and emphasized its consistent delivery of the forecasted energy output.

Eavor has become one of the recipients to some of the largest Canadian cleantech investments this year. Alongside CarbonCure Technologies and OYA Renewables, Crunchbase News allocated Eavor’s successes as evidence that Canada is “moving up the cleantech ranks” in the world. Canada’s increased funding for cleantech startups is projected to exceed last year’s record-setting totals, according to Crunchbase. Despite Canadians making up about 0.5 percent of the global population, the country ranks fifth in the world for cleantech investments between 2021 and Q3 2023.

Eavor has been listed as one of the top 6 Canadian cleantech companies that have achieved significant fundraising milestones in 2023. In a recent LinkedIn post by CS Partners CEO Simon Leich, it was highlighted that Canadian cleantech companies are making significant strides in fundraising, with a particular focus on geothermal energy, carbon capture, and utility-scale solar. This surge in investments, totaling approximately a billion USD, is propelling Canada to the forefront of the global renewable energy sector, despite the country comprising only 0.5 percent of the world’s population. Currently ranking fifth globally in cleantech investments, Canada’s commitment to a clean economy is evident, solidifying its position as a leading advocate for a sustainable future.