Calgary’s Eavor Technologies has received a strategic investment from Chubu Electric Power for the global commercialization of Eavor-Loop™ technology.
Eavor (pronounced “Ever”) is a geothermal technology based energy company led by a team dedicated to creating a clean, reliable and affordable energy future on a global scale.
The Eavor-Loop™ system differs from conventional geothermal solutions as it uses conduction to retrieve heat from the earth’s subsurface, resulting in a long-term, reliable, predictable and independent supply of renewable energy. This completely closed loop system provides a highly scalable source of heat and power without the typical exploration risk.
“The opportunity and plan for global deployment of this technology requires partners like CHUBU. The involvement of CHUBU as one of our partners and Board members represents a fantastic endorsement of our technology, its commercialization and global scalability,” said John Redfern, President & CEO at Eavor.
“Ultimately, when it lives up to its potential, Eavor’s solution is not only the missing element needed to fully decarbonize the world’s energy supply, it is also an opportunity for localized economies to obtain resilient, independent, autonomous, domestic energy resources. This changes everything.”
Along with CHUBU’s investment they will have a representative on Eavor’s Board of Directors.
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