Eavor is Excited to Welcome Stephan Hannke of OMV to our Board of Directors
Eavor is excited to welcome Stephan Hannke of OMV to our Board of Directors. Stephan Hannke is a Senior Advisor with OMV, a global oil, gas and chemicals group with headquarters in Vienna, Austria. Stephan works in the Low Carbon Business area of the Energy division, and together with his team, they are leading business growth in geothermal closed-loop technology (EAVOR) in selected European countries. His goal is to support the decarbonization of cities and industry, through identifying, enabling and delivering clean heat production using EAVOR geothermal closed-loop technology.
GA Drilling, a geothermal drilling company emphasizes the advancements in geothermal drilling
GA Drilling mentioned Eavor as one of Canada’s leading Advanced Geothermal Systems (AGS) in a LinkedIn article. The article dives into the methods and schematics of how AGS closed loop systems works, which is the technology that Eavor uses. The process begins by drilling vertical wells several thousand feet into the ground. The wells are then deviated horizontally into multilaterals. A working fluid is then introduced into the injection well, where the liquid can then absorb heat from the rock via conduction. This hot liquid then rises up the outlet well to the facility. The hot liquid is then passed through a heat exchanger, transferred to a secondary fluid, which is then vaporized to spin a turbine and generate electricity. Alternatively, the produced heat from the system can be used for heating applications.
TRANSGEO aims to transform abandoned oil wells in Central Europe into geothermal projects
The newly launched TRANSGEO project aims to investigate abandoned oil and gas wells in central Europe and how they can be utilized for extracting geothermal energy. The project was co-funded by the European Commission and the Interreg Central Europe Programme. With a budget of €2.61 million (80 percent funded by the European Regional Development Fund), the project has partners in Germany, Austria, Hungary, Croatia, and Slovenia. The coordinator for this project is Hannes Hofmann, the head of the Helmholtz Young Investigators Group “Advanced Reservoir Engineering Concepts (ARES)” at the GFZ German Research Centre for Geosciences in Potsdam.
Innovate Alberta showcases Eavor’s technology as “the solution the world has been waiting for
Eavor has been featured in INNOVATE™ Alberta, with Eavor-Loop™ being showcased as ground-breaking technology that is set to revolutionize the clean energy industry. The piece articulates that geothermal energy is at “a moment of reckoning,” and that Eavor is at the forefront of this transition because it harnesses energy from the largest clean energy resource we have: the Earth itself. In other words, Eavor extracts heat directly from hot rock, which is heated continuously by the Earth’s core. The Eavor-Loop™, conceived by co-founder Paul Cairns and helmed by CEO John Redfern, overcomes traditional geothermal constraints through its innovative closed-loop system. As indicated by Eavor Chief Technology Officer Matt Toews, such a configuration would “not only eliminate the parasitic pump load but would, in fact, pump itself due to the thermosiphon effect.”
BloombergNEF features Eavors technology and how next-generation geothermal is revolutionizing the clean energy sector
Eavor’s closed-loop systems have recently been featured in a BloombergNEF article about the exponential momentum that geothermal energy is gaining worldwide. According to the article, utility-scale commercial projects are increasingly adopting next-generation geothermal technologies, and countries around the globe are embracing this renewable energy source to achieve their net-zero targets. BloombergNEF stated that the allure of next-generation geothermal energy lies in its ability to tap into previously untapped resources. By leveraging advanced technologies, these projects can harness geothermal energy in areas where traditional methods were not viable.
Spectra article features Eavor-Loops in Geretsried as a game-changer in clean energy
In a recent article published by Spectra, editor and journalist Ewan Thompson describes how Eavor is unlocking vast potential for geothermal energy in Bavaria. The article highlighted how Geretsried will soon be able to harness heat from deep within the earth to provide its population with reliable baseload energy. A closed-loop system will be able to achieve this because it bypasses the need to search for hot underground aquifers, which costs millions of dollars without the guarantee of discovery. Rather than investing time and money into locating an aquifer, all an Eavor-Loop™ needs is access to hot rock, which is anywhere on the planet. Drilling approximately 4.5 kilometres deep, Eavor will network 260 kilometres of wellbore into a closed-loop system that will act as a reverse radiator, extracting heat from bedrock and circulating it up to the power plant.
Italy-Kenya Business and Investment Forum on Geothermal Concludes
The Italy-Kenya Business and Investment Forum on Geothermal took place on March 27, 2023, with the aim to boost collaboration between Italian and Kenyan businesses in the geothermal energy sector. The forum was organized by the Italian Investment and Technology Promotion Office of the United Nations Industrial Development Organization, with collaboration from the Ministry of Energy and Petroleum of Kenya, the Geothermal Association of Kenya (GAK) and Unione Geotermica Italiana (UGI). The event brought together key players from the Italian and Kenyan geothermal industries, and the participants engaged in discussions on investment opportunities and strategies, with a focus on advancing geothermal energy development in Kenya. Italian companies that have expertise in drilling, power plant construction, and project financing, are projected to help the Kenyan labour force.
Eavor’s Presence in Japan Strengthens as Japanese Media Embrace the Merits of Closed-Loop Systems
Eavor’s technology and potential in Japan have been gaining momentum in capturing the attention of Japanese newspapers and media outlets. Recently, an article from Japanese online publication Energy Frontline interviewed Representative of Eavor Japan James Heatherington, and discussed the viability of Eavor’s technology in a country that has “high potential for geothermal power generation and high expectations for development using this technology.” Additionally, major Japanese newspaper Chunichi Shimbun features both the EUIF investment into Eavor’s Geretsried project and Chubu Electric Power Co. major investment in Eavor Technologies. The article comments: “The geothermal startup company that Chubu Electric Power has invested in has been granted 91.6 million Euro from the EUIF for its first commercial project in Germany, for which Chubu Electric Power has acknowledged the importance of. Electric production is expected to start in the latter half of 2024. This is a new type of renewable energy with high expectations.”
Statistics are showing an increase of professional women entering the energy sector
Energy CFO, business controller, and board advisor Paula Waggoner-Aguilar published a feature article demonstrating that in the last decade, there has been an increase of women pursuing careers in the energy sector. Data has shown that since the COVID-19 pandemic, the number of women finding jobs at energy companies is increasing, especially in renewables. Women working in affiliation with renewable energy make up 32 percent of positions globally. Of this percentage, 45 percent work in administration jobs over STEM related roles. In comparison, women represented 19 percent of the oil and gas workforce in 2021, which is a four percent improvement since its last study in 2018. In 2022, the Center for American Progress found that women represented 25 percent of the total energy workforce, an approximately 17.2 percent increase from PWC’s findings a little over a decade before.
Two Billion Euros to be Invested in future geothermal projects in the Netherlands
The Dutch geothermal sector is to receive a grant of 2 billion Euros, which will be made available for at least 18 new geothermal projects in the near future. Currently, the total number of realized and well-advanced geothermal energy projects in the Netherlands is 50. These projects are estimated to provide direct heating to roughly 7 percent of Dutch households, and that number is projected to rise to 25 percent in the coming years. Hans Bolscher, chairman of Geothermie Nederland commented: “You cannot heat the whole of the Netherlands sustainably with electricity. Fortunately, we are now seeing a clear change when it comes to attention for large-scale sustainable heat production.”
University of Calgary’s geothermal research centre was granted 3 million dollars in funding
Researchers at the Schulich School of Engineering recently received funding that will support investigative work into optimizing geothermal energy systems. The funds will support a four-year $3 million project conducted by the Energi Simulation Centre for Geothermal Systems Research, where Dr. Apostolos Kantzas serves as the associate director and Dr. Roman Shor serves as the Energi Simulation Industrial Research Chair in Geothermal Systems. This funding comes from the Natural Science and Engineering Research Council of Canada (NSERC) and Mitacs, in collaboration with Ashaw Energy, ConocoPhillips, KALiNA Distributed Power, Suncor, Telsec and Terrador Energy, and in partnership with the Alberta Energy Regulator, Alberta Geological Survey, and the Geological Survey of Canada.
Geothermal potential in Austria: Industrie 4.0 sees benefits in Eavor-Loops™ after talks with Daniel Mölk
Technological trail-blazer Industrie 4.0 has featured Eavor in an online article, highlighting many advantages Eavor has in the renewable energy sector and how Advanced Geothermal Systems (AGS) can expedite Austria’s energy self-sufficiency goals. Unlike traditional geothermal and Enhanced Geothermal Systems (EGS), AGS does not rely on access to natural or man-made underground aquifers; therefore, it bypasses the need for in depth exploration or fracking. Using conduction-based technology, Eavor-Loops™ are versatile and scalable because they harvests energy from hot rock rather than aquifers. Geothermal energy and AGS were recently subjects in the “Sustainability Insights” panel, where Industrie 4.0 talked to Executive Vice President Europe Operations Daniel Mölk, discussing his insights on the development and costs of geothermal systems and its future potential for district heating.
