Senator Martin Heinrich of New Mexico recently presented Eavor as an innovative cleantech company during his presentation at the Advanced Energy Tech Conference.
In showcasing Eavor-Loop™ technology and the successful demonstration of Eavor-Deep™, he presented Eavor’s actions as a pivotal part in New Mexico’s strive for further deployment of geothermal technology.
“Innovative private sector companies like Eavor have begun to recognize that New Mexico is a natural place to test and scale these technologies. Earlier this year, Eavor announced that it successfully drilled the deepest and hottest directional geothermal well in history, right here in our state,” said Sen. Heinrich during his presentation.
Additionally, Sen. Heinrich proposed that New Mexico ought to be “strategic to make the most of these opportunities.” While acknowledging that there will be upfront costs in doing so, he emphasized that current production efforts are steadily reducing the cost curve for geothermal energy.
Furthermore, he emphasized that drilling expertise from the oil and gas sector gives geothermal production a great advantage, as many geothermal wells require very similar skill sets and professionals in their operations. He attributed this to be a valuable opportunity to amp up geothermal technology in New Mexico.
“There’s rarely a one-for-one transfer in energy transition, but this comes pretty darn close,” said Sen. Heinrich.
He expressed how he found encouragement through the creation of the Geothermal Resource Development Act, which was established by previous New Mexico Senator Gerald Ortiz y Pino. According to him, this act paved a path for more investments and research into geothermal, as it clarified the state’s laws surrounding geothermal production and developed a Geothermal Projects Development Fund.
“This is exactly the type of forward-thinking and advanced policy that we should be embracing here in our state.”
