Energy majors bp and Chevron back start-up focused on geothermal energy
Eavor says its technology differs from other forms of geothermal in that it is a scalable ‘go anywhere’ solution, harvesting geothermal heat to generate dispatchable power with zero emissions
Image: Eavor Technologies
Canada-based start-up Eavor Technologies, that is focused on geothermal energy, has announced a $40 million (£29m) funding round that included participation from global energy majors bp and Chevron.
The Eavor-Loop technology uses natural heat of the earth like a giant rechargeable battery, with fluids heating by the earth and circulated in a closed network of underground well bores, unlocking a reliable and consistent energy source.