Eavor Vice President of Origination, Neil Ethier spoke with North America Outlook Magazine to shed light on Eavor-Loop™ technology and how this innovation is scaling clean baseload energy to global markets.
This technology relies on the conductive method of heat transfer rather than the convective means that traditional geothermal and EGS systems utilize. This design means that Eavor does not require fracking techniques, has minimal water use, and is not associated with induced seismicity or discovery risk. Due to these factors, Ethier explains that Eavor’s technology has the potential to disrupt the global energy landscape profoundly. With a highly predictable output and dispatchable capacity, Eavor-Loop™ technology can be financed and scaled using standardized manufacturing approaches akin to wind or solar energy.
The article delves into the company’s recent achievements, including the world’s first commercial Eavor-Loop™ project being developed in Geretsried, Germany. Over the span of seven years, Eavor has successfully accumulated over CAD$315 million in equity funding, boasting an impressive roster of investors, and Ethier voices that the Eavor team is proud to have garnered trust from a diverse group within the energy sector.
The article also highlights that the demand for clean reliable power was amplified in Germany due to geopolitical tensions; therefore, a shift in primary focus from decarbonization to energy security happened as a result.
“Our first project will not only feed electrons into the German grid but also supply heat for the neighbouring village’s district heating networks, which are soon to be built,” explains Ethier to North America Outlook.
Ethier further notes that the Eavor-Europe™ project has the potential to generate a dramatic increase in inquiries both in Europe and beyond. Currently, Eavor has secured agreements with Sonoma Clean Power and the US Department of Defense to explore Next-Generation Geothermal potential in California and Joint Base San Antonio, respectively.
As more countries strive for net-zero goals and clean energy sources are becoming increasingly vital, Eavor is emerging as a leader in innovative Next-Generation Geothermal technology.
“Whether they are concerned with energy security, autonomy, resiliency, reliability, local employment, climate change, decarbonization, or affordability, Eavor’s technology can meet all of these challenges. We have resources everywhere with the ability to address the global energy security problem.”
Read the full in depth article by North America Outlook here.
