Calgary, Alberta, April 29, 2020 – Congratulations are in order for Kevin Krausert of Beaver Drilling, for his hard work and initiative in launching this new Geothermal collaboration.
The Canadian Association of Oilwell Drilling Contractors (CAODC), Clean Energy Canada, the Clean Resource Innovation Network (CRIN), and the Petroleum Services Association of Canada (PSAC) have joined together to create an alliance promoting Canadian geothermal development and to create jobs for displaced oil and gas drilling contractors and oilfield service workers. Support for implementing this vision comes from leading geothermal energy developers such as DEEP Earth Energy Production Corp (deepcorp.ca), Terrapin Geothermics (terrapingeo.com) and Eavor Technologies Inc. (Eavor.com).
See the link for details here.
Under this program, Eavor believes Alberta could attract up to $4 billion in foreign investment capital, to create 400 MW of clean dispatchable power and eliminate 2,000,000 tons of CO2 per year, all the while eventually employing 5,000 displaced oil service workers. Such a plan could kickstart a geothermal ecosystem in Canada that could lead the world and represent a clean sunrise export industry for the nation.
The technology that could make such a geothermal moonshot possible is a made-in-Canada solution called Eavor-Loop™. Eavor’s successful demonstration project last year was supported by funding from NRCan, SDTC, Alberta Innovates and ERA. This geothermal technology eliminates the need for a permeable reservoir to produce brine and instead works purely via conduction. This eliminates exploratory cost, risk and delays as well as ongoing operational uncertainty. This allows Eavor-Loop™ to be scaled up rapidly, financed with little production risk and located where desired. Eavor is currently working on Eavor-Loop™ implementations around the World but is looking forward to bringing this technology home.
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 power. Learn more about Eavor here.
If you have any questions or would like to schedule a zoom meeting, please contact:
Eavor Technologies Inc.
President & CEO