Re_Generation lists Eavor as a leading Canadian firm in an energy storage revolution
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.
Bavaria’s Nuremberg Press features Eavor’s success in Geretsried
The Nuremberg Press recently published a detailed article promoting Eavor’s project in Geretsried in hopes that narrating the success might inspire similar future projects in Nuremberg. The article opened by explaining the current state of geothermal energy in Germany, which is limited to conventional residential buildings and only goes to a depth of 100 metres. In comparison, Eavor’s system drills 4,500 meters down, and it networks 60 kilometres of wellbore into a single closed-loop system, where as a total project could be around 260 kilometres. With the anticipated completion by mid-2024, this technology will supply districts within Bad Tölz-Wolfratshausen with clean heat and clean electricity.
Mindfulicity’s Mairi Serpas on Eavor: implementing tools for stronger wellbeing in the workplace
Eavor has teamed up with social enterprise Mindfulicity to continue building a healthy work culture that inspires productivity and innovation. Mindfulicity’s core values were born from support systems and counseling expertise within YWCA Calgary. They believe the skill sets needed to build and maintain healthy relationships – at home, in the community and in our workplaces are crucial. “We’re experts in the field of relationship building, and we’ve just taken those skills and repackaged them in a different way,” said Manager Mairi Serpas.
ThinkGeo Energy Features Eavor’s Cooperation Agreement with Sonoma Clean Energy
ThinkGeo writer Carlo Cariaga recently published an article highlighting the new cooperation agreement between Eavor and Sonoma Clean Power (SCP). This agreement was born from an initiative to expand geothermal development in Sonoma and Mendocino counties orchestrated by California’s Geothermal Opportunity Zone (GeoZone).
GeoZone seeks to promote environmental protection while increasing quality of life and high-quality jobs for locals. Their aim is to build 600 MW of incremental local geothermal capacity across multiple projects to achieve these objectives.
Eavor, along with Cyrq Energy and Chevron New Energies, are SCP’s partners in these projects. In expanding their geothermal projects, the company expects 40% of its energy to come from geothermal resources by 2038.
Eavor Featured in ‘Just Have A Think Video – Geothermal is going global!
Eavor’s Chief Technology Officer, Matt Towes recently joined Dave Borlace on the ‘Just Have A Think’ YouTube channel for an excellent video on how geothermal is going global! ”Geothermal energy has the potential to provide all our human energy requirements for millions of years. The trouble is we just can’t easily get at it other than in areas of volcanic activity or along fault lines in the earth’s tectonic plates. So geothermal energy has always remained a niche energy source – accounting for just 1% of global energy. Now a Canadian company has developed a system that can work profitably anywhere in the world, regardless of geological conditions. This one could be a winner!!”
U.S Government announces new funds and incentives for next-generation geothermal deployment, underscoring significant movement in energy transition
America is dialing up the national thermostat on geothermal research and development with new policies and funding from the Biden administration. In the spring of 2022, both sides of American congress agreed to allocate $84 million USD for the development of four demonstrative geothermal projects under the Bipartisan Infrastructure Law. The Inflation Reduction Act followed shortly after, providing companies with incentives of up to 40% tax credits for investments in geothermal projects. Businesses that meet livable wage standards and bankroll geothermal ventures will be eligible for a tax credit of 30%. An additional 10% is available for development projects in communities currently or previously reliant on the energy industry, such as those with large fossil fuel sectors or retired coal mines. Politico.com quoted Geothermal Rising board of directors president Kelly Blake in their reporting on the policies, saying the geothermal industry hasn’t received this much interest in over 50 years.
CERAWeek Video – Transferring Technologies for Next-gen Geothermal
During CERWeek 2023, Eavor CEO, John Redfern participated in a panel discussion focusing on the topic of ‘Transferring Technologies for Next-gen Geothermal’. The panel also featured Andrei Utkin, Abdulaziz Almuhaidib, Douglas Blankenship & Carlos Araque.
Eavor named as a key developer for Yukon’s geothermal potential and economic future
Yukon-based columnist Keith Halliday says next-generation geothermal energy could play a vital role in the Canadian territory’s future. Economic commentator Halliday has a long list of opinion pieces written for multiple regional publications, including Yukon News and Tar Sands Diplomat. It is no surprise that many of Halliday’s articles focus on resource development and the environment in a territory primarily driven by mining and tourism. In a recent two-part series, the writer breaks down the past, present, and most importantly, the future of mining and resource extraction in light of global climate change initiatives and attitude shifts towards responsible resource development. Global demand for sustainable minerals like copper and zinc is increasing, and the Yukon has a unique opportunity to supply responsible resources while striving towards reduced emissions and world-wide climate goals.
The Government of Canada’s 2023 Budget Advances Canada’s Geothermal Opportunity
On March 28, 2023, Chrystia Freeland, the Deputy Prime Minister and Finance Minister, tabled Budget 2023, A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, and Healthy Future. Promoting the commercialization and viability of emerging clean technologies to enhance greenhouse gas reduction, job creation, and economic diversification remains a national priority. Various policy mechanisms, some of which are mentioned below, aim to advance this goal, including: Tax rate reductions for zero-emission technology manufacturers; Tax credits for clean electricity production; Investment tax credits for clean technology manufacturing; and Additional funding for the Strategic Innovation Fund.
Startups Are Shaking Up Geothermal Power’s Prospects
Geothermal energy has long been recognized as a reliable and sustainable source of power but has struggled to gain widespread adoption due to high upfront costs and limited access to suitable geological formations. However, a new generation of startups is shaking up the geothermal industry with innovative technology and business models that could make it a more attractive option for investors and utilities. According to an article by Power Magazine, one such startup, Eavor Technologies, has developed a closed-loop geothermal system that eliminates the need for drilling into specific geological formations. Instead, Eavor’s system circulates water through a network of underground wells, using the natural heat of the earth to generate steam and power turbines. This system can be deployed in a wide range of locations, making geothermal power accessible to many more communities and industries.
Puerto Rico aims for 100% Renewable Local Energy
Energy News Network published an article stating the U.S. Department of Energy pledged $1 billion to expand Puerto Rico’s solar energy systems. The island is striving to become less reliant on fossil fuels and integrate a more renewable source of energy into their grid.
Alexis Massol González, founder of solar project Casa Pueblo, is hopeful that the funds are funnelled to independent solar projects, as it would boost local energy autonomy and establish a more reliable source of power during natural disasters.
Casa Pueblo, according to Massol González, became an “energy oasis” during the fallout of Hurricane María in 2017, as people could use energy from the solar panels to make phone calls.
Energi Media Features Eavor’s Paul Cairns in an Interview About Innovators Leading Alberta Oil Patch’s Energy Transition
Energi Media recently featured Eavor’s director of business development, Paul Cairns, in an article about energy transitions in Alberta. CEO of Energi Media, Markham Hislop, spotlighted three clean energy stories in the article, highlighting Eavor’s technology and how it adopts methods that were created by the oil and gas sector for geothermal. It also gave context to Eavor’s motivation to provide a scalable, baseload or dispatchable source of clean energy that does not suffer from the same shortcomings of traditional geothermal or Enhanced Geothermal Systems. “There’s been lots and lots of time and energy put into extracting hot water from the earth, pulling that heat energy out of the water to make electricity or heating. It’s been done for a very long period of time,” said Cairns in the interview.
