Category leader in next-generation geothermal energy, Eavor Technologies, is announcing a Strategic Collaboration Agreement with green energy company Getech group.
Getech is an international company specializing in advancing the clean energy transition with world-class geoscience data and proprietary Heat Seeker™ software. The company’s revolutionary approach to energy generation is designed to bypass risks, costs, and exploration time associated with traditional geo-energy extraction methods.
In combination with Eavor’s innovative and industry-leading Eavor-Loop™ extraction technology and well design, the companies will cooperate to identify and develop the most promising geothermal hotspots in Latin America.
Dr. Jonathan Copus, CEO of Getech, said “this exciting agreement with Eavor is an important first step in building Getech’s global geothermal asset portfolio. By integrating our geospatial and economic modelling skills with Eavor’s development technology, it will be possible to establish geothermal development assets of significant scale.”
The collaboration’s scope will encompass the entire continents of South America, as well as Mexico and neighboring island nations comprising Central America and the Caribbean. The Inter-American Development Bank published a comprehensive study of the regions’ geothermal potential in 2020, and cites subterranean heat and energy capacity between 55 and 70GW.
Interest in the region’s geothermal potential is growing rapidly. Eavor and Getech’s agreement announcement follows closely on the heels of the allocation of $17 million for the development of a geothermal project on the Caribbean Island of Nevis.
Mexico is home to four operational geothermal plants, and other major projects exist in Chile, Bolivia, and Colombia.
Check out this comprehensive article by ThinkGeoEnergy.com for more information on other Latin American geothermal developments.
Eavor CEO John Redfern said the agreement is “a fundamental step in our work to commercialise and “productise” Eavor-Loop™ technology.
“We believe that our strategic partnership with Getech, under which we are collaborating in the evaluation of a large pipeline of fully qualified projects, will facilitate this. We are excited by the prospect of accelerating the market adoption of Eavor-Loop™ and, in turn, enabling many countries and companies to be more aggressive in a shorter timeframe with their own energy transition plans to net zero.”
The Inter-American Development Bank states all nations in Latin America and the Carribean have ratified the Paris Agreement, meaning goals for decarbonization and net-zero are top of mind for governments and major players in the regions energy sector.
Eavor and Getech’s Strategic Collaboration Agreement will allow the region to unlock it’s clean, baseload energy potential for uses Eavor and Getech’s Strategic Collaboration Agreement will allow the region to unlock its clean, baseload energy potential for uses ranging from heating, cooling, and green energy generation for leading industries like the agricultural sphere. Developing green projects across Latin America solidifies Eavor’s position as a global leader in the transition to a clean, green world, for everyone, ForEavor.
