Eavor, an international energy company headquartered in Canada, is making significant progress on a commercial-sized geothermal facility in the south of Germany that could bring this form of renewable energy more into the mainstream.
Eavor says that its green energy technology is scalable and dispatchable with little environmental impact.
In a recent video update released on LinkedIn, the company showcases the progress made on the construction of its new facility in Geretsried. This project in Bavaria is the first imagined at such a size for Eavor's closed-loop system and involves drilling wells up to 7,000 meters deep (almost 23,000 feet).
Eavor was founded in 2017 and began the Bavarian project in July 2023, as ThinkGeoEnergy reported. The project is a continuation of research and development that has been moving along since the first geothermal energy plant was installed in Italy in 1904.
Eavor's efforts in Germany are part of an international push to fight against climate disaster. Leaders around the world have increased funding for green energy research and implementation, with global climate finance reaching $1.3 trillion in 2021-2022, per the Climate Policy Initiative organization.
Eavor's project in Europe is part of this surge, having received €91.6 million (about $98.8 million as of late March) from European governments, and it comes ahead of its expansion in North America. The Canadian government recently provided $90 million CAD (about $66 million U.S. dollars) to the Calgary-based company to increase its work in the Great White North.
This vital push to reduce global pollution is occurring in both the public and private sector. For example, Google has formed a partnership with geothermal startup Fervo Energy, and the Biden administration has offered significant tax breaks and incentives to homeowners who replace fuel-burning appliances with heat pumps.
By creating cost-effective and environmentally benign alternatives to fossil fuels, Eavor is an essential player in an energy revolution that will lead to a greener, cleaner planet. The Eavor-Loop closed-loop system is significant because it can produce renewable energy that can be exerted at levels based on demand as opposed to environmental conditions, making it a good partner for wind and solar in a green energy economy.
Breakthroughs in geothermal are significant because many experts believe it is an underutilized clean energy source. For example, although Canada is believed to have massive geothermal potential, it hardly makes use of any of it. Meanwhile, 25% of Europeans live in areas with geothermal potential, according to geothermal analyst Jack Kiruja from the International Renewable Energy Agency, per Fortune.
Iceland stands out as an example of the benefits of geothermal energy. A tiny country with unique amounts of boiling water, Iceland has generated significant interest from other European nations seeking to get in on clean energy because of the benefits it has brought to the daily lives of Icelanders.
Advancements like Eavor's should make geothermal an important part of a clean energy economy, and change is on the horizon. The United States has joined Europe and Canada with an interest in adding it to the energy grid, and the Biden administration has claimed that geothermal will be a significant part of its platform and investments moving forward.
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