Eavor’s base city, Calgary, has been recognized as one of the top cleantech ecosystems in the world according to the Startup Genome report.
The report, unveiled at COP28 in Dubai, identified Calgary as an ‘ecosystem to watch’ on a global scale, as it earned a spot within the Global Cleantech Top 35 ranking.
Startup Genome, a San Francisco-based policy advisory and research firm, placed Calgary’s achievement alongside well-established cleantech hubs such as Silicon Valley, Los Angeles, Boston, New York City, and Vancouver, affirming Calgary’s pivotal role in shaping the future of clean technology. The report states that among the $34.6 billion global average, Calgary’s ecosystem is valued at $5.2 billion.
Alberta’s appeal for cleantech startups is further emphasized by citing the province’s competitive edge due to low provincial sales and corporate income taxes. These advantages serve to position Alberta as a more affordable place in the country to establish businesses, especially compared to Vancouver and Toronto.
A Calgary Herald article highlighted Eavor’s achievement of earning a spot in the 2023 Global Cleantech 100 list, being one of two Calgary-based companies, alongside Carbon Upcycling Technologies, to solidify worldwide recognition for their cleantech innovations.
“This technology is important because we’re working to phase out emissions; we are not phasing out energy production,” said Alberta Premier Danielle Smith in a speech about Alberta’s energy future.
“In fact, all reasonable forecasts show that Alberta is set to remain a leader in energy production and carbon-capture utilization and storage for decades.”
COP28 will see over one hundred Alberta delegates attending, representing a diverse array of companies and organizations, including several politicians such as Premier Danielle Smith and Environment and Protected Areas Minister of Alberta Rebecca Schulz.
In a testament to Calgary’s innovation in the cleantech sector, Eavor is leading the charge in next-generation advanced geothermal technology on a global scale. Not only did Eavor celebrate the inauguration of its first commercial power plant, Eavor-Europe™, last August, but it also witnessed the closing of its Series B funding last October, with milestone investments from high-caliber energy companies and the Canadian federal government.
As Calgary accumulates global recognition for its advancements in renewable energy, Eavor stands as a pivotal example of the city’s commitment to sustainable and cutting-edge solutions.