One of the oldest and largest construction companies in Japan has made a direct investment into Calgary’s Eavor Technologies.
Founded in 1840, Tokyo’s Kajima Corporation builds high-rise structures, railways, power plants, dams, and bridges.
Eavor is a leader in globally scalable geothermal energy technology and its Eavor-Loop utilizes heat from the natural geothermal gradient of the Earth, as opposed to tapping natural hot springs, which are commonly seen in geothermal activity areas in Japan.
Earlier this year Eavor was named to the prestigious 2024 Global Cleantech 100 list and late last year Eavor secured $90 million from the federal government to help it scale its geothermal closed-loop technology at a commercial level.
The investment by Kajima demonstrates Eavor’s ability to attract capital from various entities and develop key partnerships with industry leaders worldwide.
“We’re very excited for the opportunity to grow and maintain a strong relationship with Kajima, this is fundamental to a long-lasting partnership and the growth of Eavor in Japan,” states John Redfern, President and CEO of Eavor.
The Kajima investment not only strengthens Eavor’s balance sheet, enables the growth and deployment of Eavor’s technology in various market sectors, it also represents the third major investment in the company by a Japanese entity.
The investment aligns with Kajima’s aim to further its position as a leader in the energy transition in Japan, and beyond, while also integrates Kajima’s Environmental Vision of Triple Zero 2050, which recognizes carbon neutrality, circular economy, and nature positive as the key aspects of a sustainable society.
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