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 the 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.”

Continue reading “Oil giants stake geothermal startup” on Axios

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