New York Times article cites Eavor as a company that is getting investors excited about geothermal

A New York Times climate journalist Brad Plumer indicated that The United States has “enough geothermal energy to power the entire country,” and Eavor is one of the companies aiming to utilize those resources.

The article explains that new excitement in geothermal energy is likely to keep generating interest from high-caliber investors, especially since many technologies (such as magnetic drilling and horizontal drilling) born from the oil and gas sector are pivotal to geothermal energy’s expansion.

Geothermal Rising commented that Eavor is helping to break barriers using these tools and achievements, and that these accomplishments are fueling a “geothermal rush.”

The article attributes that since Eavor’s closed-loop systems doesn’t require fracking, which is prohibited in certain countries, it greatly reduces uncertainties associated with water flowing through subsurface rock.

The eliminated requirement for fracking not only opens opportunities in many countries and various investors, but it allows Eavor-Loop™ technology to be repeated and scaled globally.

“If geothermal is ever going to scale, it has to be a repeatable process you can do over and over. We think we’ve got the best way to do that,” said Eavor CEO John Redfern in an interview with the New York Times.

Furthermore, this creates opportunities for greater implementation of drilling technologies, which, as stated by GA drilling CEO Igor Kocis, will propel their mission to transform the energy landscape.

“In GA Drilling, we have been fighting for years to make it happen at scale,” said Kocis. “We are dedicated to developing cutting-edge enabling technologies that harness the Earth’s natural heat to power a sustainable future.”

James Rajotte, Alberta’s Senior Representative to the United States, stated in a LinkedIn post that geothermal energy has “enormous potential” in the United States, and that Eavor is one of the innovative companies aiming to propel that potential. Moreover, Helmerich & Payne (H&P) stated that investing in unconventional geothermal technologies like Eavor’s is one way to “appreciate our past as we look to the future.”

By harnessing advanced drilling technologies and closed-loop systems, Geoenergy stands poised to contribute substantially to the sustainable energy landscape, offering a promising expansion of access to clean energy.

To read Eavor’s previous article in the New York Times, click here:

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