Click here to download the PDF version.
Move by Department of Interior Speeds Clean Energy Transition by Cutting Costs and Streamlining Development for Next-Gen Geothermal
CALGARY, Alberta, Canada – Eavor Technologies Inc., an advanced geothermal tech company and leader in geothermal energy solutions, commended the Department of the Interior for proposing a new categorical exclusion for geothermal exploration, marking a step forward in accelerating the discovery and development of geothermal resources on federal lands.
This proposal will allow for investigative drilling and other activities to determine the optimal location and specifications for geothermal development, before requiring large scale environmental impact studies in areas that may never be developed. This move is expected to save time and reduce costs, expediting geothermal energy projects across the United States.
“We are excited to see the Department of the Interior taking significant steps to facilitate geothermal exploration. This proposal will allow us to more quickly identify optimal locations for development, cutting down the time and costs involved in bringing clean energy solutions to market,” said Jeanine Vany, co-founder and executive vice president of corporate affairs for Eavor Technologies. “However, while extremely important, categorical exclusions are not the only policy geothermal needs to thrive. We need to focus on building out the competency and understanding of the entire geothermal regulatory ecosystem. Congress should act now to pass comprehensive reform that will level the playing field to ensure that geothermal takes its place as a core component of the energy transition.”
Earlier this month, Eavor released a memo on the importance of Congress passing permitting reform legislation during the upcoming lame duck session.
###
ABOUT EAVOR TECHNOLOGIES INC.
Eavor (pronounced “Ever”) is a technology-based energy company led by a team dedicated to creating a clean, reliable, and affordable energy future on a global scale. Eavor’s solution (Eavor-Loop™) represents the world’s first truly scalable form of clean, dispatchable, baseload capable, and flexible heat and power. Eavor achieves this by mitigating or eliminating many of the issues that have traditionally hindered geothermal energy. Eavor instead circulates a benign working fluid that is completely isolated from the environment in a closed-loop, through a massive subsurface radiator. This radiator simply collects heat from the natural geothermal gradient of the Earth via conduction. Eavor has been supported by equity investments made by several leading global energy producers, investors, developers, and venture capital funds including Vickers Venture Partners, bp Ventures, Chubu Electric Power, BDC Capital, Temasek, BHP Ventures, OMV, the Canada Growth Fund, Kajima Corporation, and Microsoft Climate Innovation Fund, and Microsoft Climate Innovation Fund.
