The next-generation of business professionals are exalting Eavor as one of the top 5 most promising Canadian firms in energy storage innovation.
A post made by Re_Generation on LinkedIn indicated that long-duration energy storage is anticipated to be the “Holy Grail” in transitioning to a cleaner electrical grid. Intermittent sources of energy, such as wind and solar, on their own make having a renewable-dominated grid challenging because they are non-dispatchable.
This is where Eavor-Loop™ provides an astronomical advantage. The closed-loop system mitigates challenges that intermittent energy sources face because it is not vulnerable to seasonal changes or weather patterns. It’s a reliable source of energy that can be dispatched 24/7 365 days a year.
Eavor achieves this by connecting two vertical wells with many horizontal multilateral wellbores, which creates a reverse radiator. Through his system, energy is extracted from hot bedrock and circulated up to the powerplant to generate electricity.
Unlike traditional geothermal systems that require access to deep aquifers, Eavor-Loops™ can access energy anywhere in the world. This is what allows Eavor to be truly scalable.
The post also discusses how the world is witnessing a colossal increase in renewable energy innovation despite “systematic underestimation.” Despite previous models having predicted a steady decline in renewable energy viability, Re_Generation indicated that the exact opposite happened. The price of energy storage drastically declined and global storage capacity is expected to increase 1,500 percent by 2030.
The reason this systematic underestimation happened, according to the post, is due a flaw in previous models’ methodology; the inability to account for the non-linear learning curves (“S-curves”) of early-stage technological innovations. This curve projects a steep incline of learning that “leads to quickly declining costs and improved performance in a way that virtually guarantees rapid scaling towards market dominance.”
According to Re_Generation, this demonstrates that a clean energy grid has become more feasible than ever before. As Canada’s largest youth-run organization, Re_Generation’s mission is to harmonize human and ecological well-being by reimagining how young professionals are educated, envision their careers, and how businesses integrate them into the workforce.