Eavor’s Geoenergy technology was featured in an article published by calgary.tech, noting the company’s accomplishments in creating local jobs and enhancing energy security across the globe.
The Alberta Government’s $2 million funds to assist Eavor’s first commercial power plant in Geretsried, Germany, was highlighted alongside Rebecca Schulz’s compliments for Eavor’s innovations.
Schulz, among various policy makers and politicians, including German Chancellor Olaf Scholz, attended the inauguration of the Geretsried power plant last month, and described Eavor as a “made-in-Alberta success story.”
In response to the provincial government’s funding, CEO John Redfern stated: “Eavor applauds the Government of Alberta’s recognition and support of geothermal technologies within the recently issued mandate letters and the Alberta Emissions Reduction and Energy Development Plan. We look forward to continued collaboration that advances Alberta’s geothermal opportunity and provincial job creation while promoting Alberta as a responsible energy producer on the global scale.”
According to the article, Eavor’s technology provides an innovative design to extract clean energy, characterized by its dispatchability and scalability. This innovative system operates as a closed-loop, where a benign working fluid circulates within an industrial-scale heat exchanger, eliminating the necessity for a conventional pumping system.
Furthermore, the article highlights substantial financial support Eavor gained for its pioneering endeavors from other sources, including OMV’s €34 million investment and the €91.6 million grant from the European Innovation Fund.
The power plant in Germany is anticipated to deliver electricity sufficient to meet the needs of approximately 18,000 households while also providing heat to support up to 200,000 homes on an annual basis. This plant is primed to serve the entire region with both district heating and electricity within the next four years, providing reliable clean energy that promotes energy autonomy for the entire region.
