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.

Alex Vetsak, well construction advisor at Eavor, delves into Eavor’s innovative insulated drill pipe technology in an interview with the IADC Drilling Engineers Committee (DEC). Vetsak highlights the modularity of the technology, and how this insulation protects equipment when operating within the cased sections and open hole sections. He further explains that previous demonstrations have allowed Eavor to better understand the actual thermal output of this insulated drill pipe technology, which solidified better understanding of the thermal performance and mechanical integrity of the closed-loop system.

Geomechanics Specialist Anna Rogers recently won the Young Professional Award in Applied Research at the 2023 Geothermal Rising Conference. This award acknowledges young individuals who have made substantial advancements in the geothermal sector and innovative contributions to sustainable solutions. “I’m very excited to have received this recognition, but this award is a reflection of the entire team at Eavor and many other mentors. I am very thankful for the support I have had,” said Rogers.

Creative Energy, a low-carbon district energy system company, has just announced that they will conduct a feasibility study in collaboration with Eavor. This study aims to explore the integration of Eavor’s innovative closed-loop geothermal technology into their Vancouver Core system. Recognized as a leader in innovative energy solutions, Creative Energy designs, builds, owns, and operates sustainable district energy systems and has been serving its customers for over 55 years with a reliability rate of 99.99%.

On Oct 25th, 2023, A press conference held at Eavor’s central office in downtown Calgary hosted multiple high-profile industry leaders to announce Canada Growth Fund’s (CGF) $90m investment in Eavor, including Deputy Prime Minister Chrystia Freeland. “The great people here at Eavor are doing some incredibly important and innovative work. In the years to come, that work will be more important than ever for Alberta, for Canada, and for the whole world,” said Freeland.