Eavor Secures $8 Million for Geothermal Technology Advancement in Alberta
Eavor Technologies Inc. has received $8 million from Alberta's Government to enhance its geothermal technology, specifically the Eavor-Loop™. This funding will facilitate the Eavor-Jules™ project, which is valued at approximately $83 million, aimed at accessing deeper geothermal resources and increasing energy output.
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Eavor Technologies Inc. has been awarded $8 million from the Government of Alberta's TIER fund to advance the Eavor-Jules™ project. This project will enhance the Eavor-Loop™, enabling access to deeper geothermal resources, thus improving energy output and economics of future deployments.
Alberta's expertise in drilling is leveraged for this initiative, which has potential applications globally, even in regions lacking conventional geothermal resources. The technology operates independently of underground water and permeability, allowing for versatile deployment. Support from Emissions Reduction Alberta is pivotal for bridging innovative technologies to commercial viability.
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