Vickers Venture Partners, a global venture capital firm based in Singapore, today announced their investment in Eavor, a disruptive solution provider in the geothermal energy space. The investment is Vickers’ first ever in a Canadian startup and closes Eavor’s CAD$15 million Series A investment round. The funds will be used to pursue Eavor’s growing pipeline of commercial opportunities around the world.
Eavor is the world’s first viable form of green, scalable, baseload power, and aims to be a significant global energy source without the intermittency issues of traditional renewable power systems. Eavor-Loop, the company’s solution, is a new means of extracting power from the Earth’s natural geological temperature gradient. Eavor-Loop makes a traditional niche energy source, geothermal energy, scalable by removing the need for volcanic-type temperature and permeable aquifers.
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From the Global Geothermal News archives:
From the Global Geothermal News archives:
- Tuesday, September 24, 2019 - Canada: World’s First of its Kind Multi-Lateral Horizontal Drilling Intersection Made at Eavor-Lite Geothermal Project
- Friday, August 23, 2019 - Science & Technology: Company Claims Closed Loop Geothermal System can be Implemented Across 80 Percent of the World
- Tuesday, August 6, 2019 - Canada: Drilling Begins at Closed Loop Geothermal Power System Demonstration Project
- Thursday, April 25, 2019 - Canada: Federal Funding for Closed-Loop Geothermal Demonstration Project in Alberta
- Thursday, March 14, 2019 - Canada: Shell Oil to Support Closed-Loop Conduction-Only Geothermal Energy Project
