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Axios – Oil giants stake geothermal startup

Eavor’s announcement, ‘Global energy majors lead pivot to Eavor’s geothermal solution with USD$40 million investment’ has been featured in Axios.


“The VC arms of Chevron and BP are funding Eavor, a startup looking to commercialize a form of geothermal energy that it says can provide large-scale power in many regions worldwide.


Why it matters: It’s the latest sign of momentum and investor interest behind technology that could significantly scale up geothermal.


The big picture: The participation of Chevron and BP shows how oil giants are diversifying into clean energy — and in this case, a form of geothermal that borrows the industry’s drilling and geological know-how.”


Read the full article here – Axios

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