Bloomberg – Big Oil Invests in Startup That Drills for Clean Energy

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

“Companies including the venture arms of BP Plc and Chevron Corp. invested $40 million in a startup that aims to use the fossil fuel industry’s drilling experience to expand a technology that harvests low-carbon energy from heat below the earth’s surface.

Eavor Technologies Inc. plans to expand geothermal power beyond places like Iceland that have volcanic conditions. The technology could be a way to replace fossil fuels and nuclear power plants as a low-carbon source of electricity that can be dispatched to the grid whenever it’s needed.”

Continue reading “Big Oil Invests in Startup That Drills for Clean Energy” on Bloomberg News

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