Andrew Bell of BNN Bloomberg’s Commodities interviewed Eavor CEO John Redfern to feature the groundbreaking strides Eavor has made in providing scalable technology.
The conversation began with Bell’s statement that geothermal energy is “underfunded and marginalized.” This is despite the US government positing that geothermal energy could meet the world’s energy needs twice over.
Redfern explained the nature of this discrepancy, and attributed geothermal’s low financial momentum to it’s previous lack of scalability.
“Geothermal has captured the attention of the world several times, but it fizzled out. It’s got a lot of great attributes; it’s green, predictable, dispatchable, and it’s always reliable, unlike wind and solar. But, it’s got a big problem. Traditionally, it hasn’t been scalable,” said Redfern.
Redfern further delved into the past perceptions of geothermal energy, noting: “The old joke used to be that geothermal had all the risks associated with hydrocarbons and no upsides. You had all the same reservoir risk as a regular hydrocarbon plant, but in the end, you ended up with hot water rather than hydrocarbons.”
Eavor is beginning to change that narrative. By alleviating risks associated with conventional geothermal, Eavor-Loop™ technology effectively pivots into the possibility of global distribution, finally making geothermal scalable.
“We’re decoupling our solution from the subsurface geology, which means, by definition, that it works everywhere. If something works everywhere, it’s infinitely scalable,” said Redfern.
With this momentum, Geothermal could become a transformative force that provides sustainable, clean, and reliable energy from a nearly inexhaustible source radiating in the Earth’s core. This has great potential to provide for the ever-growing demand for clean energy across the globe.
