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Wednesday, September 25, 2019

Canada: Closed-Loop Geothermal Project Receives More Investment

Vickers Venture Partners Invests in Cleantech Startup Eavor (News Release)



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.