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Eavor Technologies Secures $182 Million to Accelerate Development of Innovative Geothermal Energy Tech

ESGEavor Technologies Secures $182 Million to Accelerate Development of Innovative Geothermal Energy Tech

Calgary-based clean energy startup Eavor Technologies has successfully secured $182 million in financing to expedite the development and deployment of its geothermal energy technology. Eavor’s flagship product, Eavor-Loop, offers an innovative, closed-loop system that circulates a benign working fluid through underground passages, creating continuous heat exchange to harness Earth’s natural heat. This approach generates electrical power, making it distinct from traditional thermal exchange systems. The funding will help Eavor advance its technology, which has the potential to provide consistent, renewable energy without the intermittency of sources like solar and wind. OMV AG led the equity round, joined by investors including Canada Growth Fund (CGF), Japan Energy Fund, Monaco Asset Management, and Microsoft’s Climate Innovation Fund, as well as existing supporters such as BDC, bp Ventures, Eversource Energy, Temasek, and Vickers Venture Partners. Chubu Electric Power Co., Inc. also converted their debentures in support of the initiative. freeslots dinogame telegram营销

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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