Eavor Technologies

Capital Raise of $182 Million Confirms Eavor as the Leader in Scalable Geothermal

Retrieved on: 
Wednesday, October 25, 2023
Carbon, Geretsried, OMV AG, Microsoft, CGF, Temasek, Eversource Energy, National bank, National Bank of Canada, BDC, Lawyer, OMV, Renewable energy, Eavor Technologies

CALGARY, Alberta, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Eavor Technologies Inc., (“Eavor”) a pioneer in the field of advanced geothermal energy solutions today announces the successful completion of $182 million in financing.

Key Points: 
  • CALGARY, Alberta, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Eavor Technologies Inc., (“Eavor”) a pioneer in the field of advanced geothermal energy solutions today announces the successful completion of $182 million in financing.
  • This significant investment will enable Eavor to accelerate the development and deployment of its revolutionary geothermal technology.
  • The equity round was led by OMV AG, with participation from Canada Growth Fund (“CGF”), Japan Energy Fund, Monaco Asset Management and Microsoft’s Climate Innovation Fund.
  • The Eavor-Loop™ offers a game-changing solution by making geothermal energy accessible, scalable, and cost-effective virtually anywhere on Earth.

CANADA GROWTH FUND ANNOUNCES FIRST INVESTMENT

Retrieved on: 
Wednesday, October 25, 2023
PSP, Government, Public Sector Pension Investment Board, Intellectual property, AB, Government of Canada, Investment, CGF, Growth, Economic development, GHG, Public, Renewable energy, Pension fund, Eavor Technologies

Further to the transaction, the Government of Canada and the Public Sector Pension Investment Board ("PSP Investments") are pleased to provide an update to the market on the activities of the Canada Growth Fund.

Key Points: 
  • Further to the transaction, the Government of Canada and the Public Sector Pension Investment Board ("PSP Investments") are pleased to provide an update to the market on the activities of the Canada Growth Fund.
  • "PSP Investments is proud to have been selected to serve as the investment manager for the Canada Growth Fund," said Deborah K. Orida, President and CEO at PSP Investments.
  • Canada Growth Fund Investment Management Inc. ("CGF Investment Management"), a wholly-owned subsidiary of PSP Investments that will be acting as CGF's investment manager, announced its intention to appoint Patrick Charbonneau as its President and Chief Executive Officer.
  • "I am honoured to lead the Canada Growth Fund investment management team.

U.S. Defense Department Awards Eavor Contract to Power Military Base through Advanced Geothermal System

Retrieved on: 
Tuesday, October 3, 2023
Business development, Air Force Civil Engineer Center, Air Force Office of Energy Assurance, Joint Base San Antonio, United States Department of Defense, DIU, JBSA, Carbon, Chesapeake Energy, Atmosphere of Earth, SAN, Geothermal energy, Air force, United States Department of the Air Force, Renewable energy, Management, Eavor Technologies, Earth

Air Force Civil Engineer Center's Air Force Office of Energy Assurance will oversee all phases of prototype program development.

Key Points: 
  • Air Force Civil Engineer Center's Air Force Office of Energy Assurance will oversee all phases of prototype program development.
  • This endeavor will leverage the Earth's inherent thermal resources, with a focus on extracting energy via conduction from deep hot rock using a closed-loop system.
  • Through DoD funding for the feasibility study, subsurface work to fully characterize the geothermal resource will begin immediately.
  • “We are pleased to partner with Eavor and the Department of Defense on this innovative project," said Chesapeake Energy President and Chief Executive Officer Nick Dell’Osso.

Weatherford Announces Second Quarter 2023 Results and Raises Full-Year Outlook

Retrieved on: 
Tuesday, July 25, 2023
Well, Completion (oil and gas wells), Pressure, Intervention, Note, Transocean, Central Bank of Argentina, Capital expenditure, Senior, Weatherford, Central bank, Petrobras, TRS, ENI, Chord Energy, Sale, Saudi Aramco, Eavor Technologies, Public expenditure, EBITDA, Evaluation, Risk, IOC, Weatherford International, WFRD, OPEX, BCS, Safety, Video game, Risk management, Cryptocurrency

HOUSTON, July 25, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its results for the second quarter of 2023.

Key Points: 
  • Operating income was $201 million in the second quarter of 2023, compared to $185 million in the first quarter of 2023 and $104 million in the second quarter of 2022.
  • Net income in the second quarter of 2023 was $82 million, compared to $72 million in the first quarter of 2023 and $6 million in the second quarter of 2022.
  • Second quarter 2023 cash flows provided by operations were $201 million, compared to $84 million in the first quarter of 2023 and $60 million in the second quarter of 2022.
  • Capital expenditures were $36 million in the second quarter of 2023, compared to $64 million in the first quarter of 2023 and $24 million in the second quarter of 2022.

Eavor commences commercialization through major investment and landmark partnership with OMV

Retrieved on: 
Wednesday, June 14, 2023
Partnership, Chubu Electric Power, Energy, National bank, National Bank of Canada, OMV AG, Eversource Energy, OMV, Series, Entrepreneurship, Renewable energy, Petroleum, Eavor Technologies

OMV AG (“OMV”) leads the round with a €34 million (C$50mm) investment and has entered into a commercial agreement with Eavor to pursue large-scale deployment of Eavor-Loop™ technology in Europe and beyond.

Key Points: 
  • OMV AG (“OMV”) leads the round with a €34 million (C$50mm) investment and has entered into a commercial agreement with Eavor to pursue large-scale deployment of Eavor-Loop™ technology in Europe and beyond.
  • The commercial agreement establishes OMV as a key partner with preferred licensing terms, access to services and development support.
  • As a key partner, OMV will be focused initially on the deployment of Eavor-Loop™ in Austria, Romania, and Germany.
  • Robert Winsloe EVP / Origination at Eavor, stated: “The European heat market is a primary focus for Eavor, starting with our projects in Geretsried and Hannover.

Cooperation Agreement signed with Sonoma Clean Power for up to 200 MWe of Eavor-Loop™ in Northern California

Retrieved on: 
Tuesday, March 28, 2023
Partnership, Geographical zone, Watt, Business, Geothermal gradient, Wind, California Public Utilities Commission, Water, Public utilities commission, Renewable energy, Eavor Technologies

Sonoma Clean Power then contracts for power generated with selected private partners who provide the technology and capital to enhance geothermal capacity in the Northern California region.

Key Points: 
  • Sonoma Clean Power then contracts for power generated with selected private partners who provide the technology and capital to enhance geothermal capacity in the Northern California region.
  • Eavor’s technology can meet this critical need.”
    This agreement is the first entered into by Eavor in the California market.
  • Eavor’s technology is the type of innovation that we are looking to foster through this cooperation agreement,” said Geof Syphers, CEO of Sonoma Clean Power.
  • John Redfern, President and CEO at Eavor stated, “The opportunity to work with a forward-looking entity such as Sonoma Clean Power to unlock the geothermal potential in Northern California utilizing Eavor-Loop™ is a very exciting opportunity for Eavor.”

Organic Rankine Cycle Market to Reach USD 769.27 Million by 2032 | Global Installed Capacity of the ORC System to Surpass 4,500 Mwel, Says Extrapolate

Retrieved on: 
Monday, March 27, 2023
U.S. Department of Energy, Office of Inspector General, Maintenance, Letter, Completeness, Joint Research Centre, Civil service commission, U.S. Department of Defense Strategy for Operating in Cyberspace, Electricity, Procter & Gamble, Microsoft, Organic Rankine cycle, Research, Geothermal energy, USD, Natural Resources, Eavor Technologies, Wood, Plant, Investment, Intel, United Kingdom, Growth, ORC, T-Mobile, Biomass, Environment, European Commission, Renewable energy, Audit, EU, Aotearoa, Rankine

DUBAI, UAE, March 27, 2023 /PRNewswire/ -- According to Extrapolate, the Organic Rankine Cycle (ORC) Market is expected to grow significantly over the forthcoming years.

Key Points: 
  • DUBAI, UAE, March 27, 2023 /PRNewswire/ -- According to Extrapolate, the Organic Rankine Cycle (ORC) Market is expected to grow significantly over the forthcoming years.
  • The market size is predicted to increase from USD 509.8 million in 2022 to USD 769.27 million by 2032 at a CAGR of 4.2%.
  • These countries are expected to increase their installed ORC capacity in the coming years considerably.
  • Browse the Complete Report Here: https://www.extrapolate.com/energy-and-power/organic-rankine-market/87401
    The global organic rankine cycle industry is highly competitive, with several key players operating in the market.

Organic Rankine Cycle Market to Reach USD 769.27 Million by 2032 | Global Installed Capacity of the ORC System to Surpass 4,500 Mwel, Says Extrapolate

Retrieved on: 
Monday, March 27, 2023
U.S. Department of Energy, Office of Inspector General, Maintenance, Letter, Completeness, Joint Research Centre, Civil service commission, U.S. Department of Defense Strategy for Operating in Cyberspace, Electricity, Procter & Gamble, Microsoft, Organic Rankine cycle, Research, Geothermal energy, USD, Natural Resources, Eavor Technologies, Wood, Plant, Investment, Intel, United Kingdom, Growth, ORC, T-Mobile, Biomass, Environment, European Commission, Renewable energy, Audit, EU, Aotearoa, Rankine

DUBAI, UAE, March 27, 2023 /PRNewswire/ -- According to Extrapolate, the Organic Rankine Cycle (ORC) Market is expected to grow significantly over the forthcoming years.

Key Points: 
  • DUBAI, UAE, March 27, 2023 /PRNewswire/ -- According to Extrapolate, the Organic Rankine Cycle (ORC) Market is expected to grow significantly over the forthcoming years.
  • The market size is predicted to increase from USD 509.8 million in 2022 to USD 769.27 million by 2032 at a CAGR of 4.2%.
  • These countries are expected to increase their installed ORC capacity in the coming years considerably.
  • Browse the Complete Report Here: https://www.extrapolate.com/energy-and-power/organic-rankine-market/87401
    The global organic rankine cycle industry is highly competitive, with several key players operating in the market.

Eavor’s next-generation geothermal project awarded €91,6 million grant from the European Innovation Fund

Retrieved on: 
Thursday, March 9, 2023
Watt, Daniel, Climate, GHG, Energy, Organic Rankine cycle, European Renewable Energy Council, Fresh water, Civil service commission, Entrepreneurship, European Commission, KCA DEUTAG, Heat, Climate change, Renewable energy, Eavor Technologies, EU

DÜSSELDORF, Germany, March 09, 2023 (GLOBE NEWSWIRE) --  Eavor Technologies Inc. and Eavor Erdwärme Geretsried GmbH (together “Eavor”), the leader in globally scalable geothermal closed-loop technology, has been awarded a €91,6 million grant from the European Innovation Fund (“EIF”), in support of the Eavor-Europe™ geothermal project already under construction in Bavaria south of Munich near the town of Geretsried, Germany.

Key Points: 
  • John Redfern, President, CEO and Co-Founder at Eavor Technologies Inc., stated: “I’d like to thank the European Commission.
  • We at Eavor are humbled to be included in the EIF program alongside so many prestigious European multinationals.
  • The project will result in 8,2 MWe and ~44.000 tCO2e GHG emissions avoided per year including anticipated heat offtake and power sales.
  • Philippe Dumas, Secretary General at the European Geothermal Energy Council, stated: “I’m glad to see the EC Innovation Fund supporting the geothermal project submitted by Eavor GmbH to commercially demonstrate innovative renewable district heating and power supply in Geretsried, Germany.

Geothermal Rising Names New Executive Director to Advance the Non-Profit's Next Chapter

Retrieved on: 
Tuesday, February 14, 2023
Geothermal Rising, Science, Attention, Government, Traction, Geothermal gradient, Geothermal energy, Electricity, Project, GR, Workforce, University, Research, Boise State University, Heat, Eavor Technologies, Attitude, Policy, Knowledge, Agriculture, Growth, Boise, Idaho, Renewable energy

HOUSTON, Feb. 14, 2023 (GLOBE NEWSWIRE) -- GR, Geothermal Rising , announces next Executive Director.

Key Points: 
  • HOUSTON, Feb. 14, 2023 (GLOBE NEWSWIRE) -- GR, Geothermal Rising , announces next Executive Director.
  • GR champions all geothermal energy technologies and applications such as thermal energy networks, hydrothermal systems, geothermal heat pumps, supercritical systems, engineered geothermal systems, closed-loop systems, and many more.
  • Bringing Bryant Jones on as Executive Director at such an exciting time in the industry will be integral to guide and grow Geothermal Rising in every way.
  • "I am extremely pleased to welcome Bryant Jones as the incoming Executive Director of Geothermal Rising.