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Eavor Technologies, which describes itself as the leader in scalable geothermal technology, has completed a $40 million funding round.
Eavor Technologies Inc., which describes itself as the leader in scalable geothermal technology, has revealed that it has completed a $40 million funding round.
Investors in the round included BP Ventures, Chevron Technology Ventures, Temasek, BDC Capital, Eversource, and Vickers Venture Partners, Eavor highlighted, adding that the investments, and partnerships formed around them, are critical to the commercialization of its technology.
Eavor’s tech, known as Eavor-Loop, uses the natural heat of the earth like a giant rechargeable battery, the company’s website states. The business says its tech differs from other forms of geothermal in that it is a scalable “go anywhere” solution.
Texas Governor Greg Abbott has announced that the state is deploying maximum resources to local officials to respond to severe winter weather and to restor.