Eavor Technologies has been awarded US$8mn from the Government of Alberta’s Technology Innovation and Emissions Reduction (TIER) fund to support the Eavor-Jules project.
The US$83mn project will advance the company’s core technology, Eavor-Loop, to access higher-temperature, deeper geothermal resources, which in turn will increase energy output and improve economics for future deployments of the technology.
Grant Hunter, Alberta’s Minister of Environment and Protected Areas, said, “Alberta’s world-class drilling expertise is opening doors to new opportunities in geothermal energy. By supporting innovators like Eavor, we are building on the skills, technologies and entrepreneurial spirit that have made Alberta a global energy leader.
“Projects like Eavor-Jules help attract investment, create jobs and position Alberta at the forefront of next-generation drilling and geothermal technologies.”
Eavor’s Chief Technology and Operating Officer, Matt Towes, commented, “This support helps us advance ultra-deep drilling technology and the next evolution of our closed-loop system to reach superhot rock. This has the potential to unlock scalable geothermal energy in regions where conventional geothermal resources are not available, supporting clean, secure and affordable energy solutions around the world.”