Eavor’s next-generation geothermal project awarded €91,6 million grant from the European Innovation Fund

Source: Eavor Erdwärme Geretsried GmbH

DÜSSELDORF, Germany, March 09, 2023 (GLOBE NEWSWIRE) --  Eavor Technologies Inc. and Eavor Erdwärme Geretsried GmbH (together “Eavor”), the leader in globally scalable geothermal closed-loop technology, has been awarded a €91,6 million grant from the European Innovation Fund (“EIF”), in support of the Eavor-Europe™ geothermal project already under construction in Bavaria south of Munich near the town of Geretsried, Germany.

The project is the world’s first commercial implementation of an Eavor-Loop™, a showpiece of the zero-emissions heat and power production capabilities of next-generation geothermal technology, and a flagship site for the fundamental ability of Eavor-Loop™ to provide energy security and autonomy, globally.

Construction began in October 2022, with drilling scheduled to commence in July 2023. Two of Europe’s largest drilling rigs are already under a four-year contract with KCA-Deutag. An Organic Rankine Cycle (“ORC”) power plant is being designed and constructed simultaneously with drilling operations in collaboration with Turboden S.p.A., with the first energy production scheduled for Q4, 2024.

John Redfern, President, CEO and Co-Founder at Eavor Technologies Inc., stated: “I’d like to thank the European Commission. We at Eavor are humbled to be included in the EIF program alongside so many prestigious European multinationals. We believe this first commercial Eavor-Loop™ will open the floodgates to the broad implementation of what is the first truly scalable form of green baseload energy. In this way, we hope to help Europe solve its twin existential threats of Climate Change and lack of Energy Autonomy”.

The project will result in 8,2 MWe and ~44.000 tCO2e GHG emissions avoided per year including anticipated heat offtake and power sales. Eavor estimates that ~20.000 homes will be powered with clean energy harnessed from the Earth and up to 600 person-years of drilling services and powerplant/infrastructure jobs will be created during the construction phase of the project.

Philippe Dumas, Secretary General at the European Geothermal Energy Council, stated: “I’m glad to see the EC Innovation Fund supporting the geothermal project submitted by Eavor GmbH to commercially demonstrate innovative renewable district heating and power supply in Geretsried, Germany. Given the energy, climate and food security crisis as well as the need to meet the tripling of the geothermal target by 2030, this innovative project is of paramount importance: it will increase the security of electricity supply, help decarbonise the district heating sector, reduce greenhouse gas emissions and stimulate technological innovation all of which could also be replicated elsewhere.”

Daniel Mölk, President at Eavor GmbH, stated: “Eavor would like to thank regional stakeholders, the Bavarian/German Governments, the community, and operational partners generally. Eavor, and its project partners, Chubu Electric Power Co., Inc. and Enex Power Germany GmbH, are honoured to be so welcomed and supported by all.”

Project Summary

The Eavor-Loop™ at Geretsried, Germany will provide clean baseload energy for district heating and power generation. It consists of multiple large underground radiators buried at 4.500 metres. Operating under a natural thermosiphon requiring no pump and no aquifer, clean fresh water will circulate through the radiator carrying the heat to surface.

With no greenhouse gas (GHG) emissions during operation, Eavor-Loop™ will avoid almost 100% of the emissions compared to the reference scenario. Eavor-Loop™ is also an environmentally friendly solution: it can be installed virtually anywhere providing the EU with a scalable, secure source of renewable heat and power. An on-site visitor centre will be built and open to the public interested to know more about the technology and the operations of this first-of-kind implementation. – Eavor-Europe™ Webpage

About the European Innovation Fund (EIF)

With projected revenue of more than €38 billion by 2030 from the EU Emissions Trading System (ETS), the Innovation Fund aims to create the right financial incentives for companies and public authorities to invest in the next generation of low-carbon technologies and give EU companies a first-mover advantage to become global technology leaders. The EIF focuses on highly innovative technologies and big flagship projects within Europe. The European Commission is tasked with overall management and implementation of the fund and has designated the European Climate, Infrastructure and Environment Executive Agency (CINEA) as the implementing body of the fund.

The first call for large-scale projects awarded grants of €1,1 billion to 7 projects in energy-intensive industries, hydrogen, carbon capture, use and storage, and renewable energy.

The projects selected under the €1,8 billion second call for large-scale projects were evaluated by independent experts based on their ability to reduce greenhouse gas emissions compared to traditional technologies and to innovate beyond the state-of-the-art, while being sufficiently mature for deployment. Other selection criteria included the projects' potential for scalability and cost effectiveness. – Innovation Fund 

Reference material: Innovation Fund projects (europa.eu)

About Eavor Technologies Inc.
Eavor (pronounced “Ever”) is a technology-based energy company led by a team dedicated to creating a clean, reliable, and affordable energy future on a global scale. Eavor’s solution (Eavor-Loop™) represents the world’s first truly scalable form of clean, dispatchable, and flexible power. Eavor achieves this by mitigating or eliminating many of the issues that have traditionally hindered geothermal energy. Eavor instead circulates a benign working fluid that is completely isolated from the environment in a closed-loop, through a massive subsurface radiator. This radiator simply collects heat from the natural geothermal gradient of the Earth via conduction. info@eavor.com | Eavor.com

About KCA Deutag
With over 130 years of experience, KCA Deutag is a leading drilling, engineering and technology company working onshore and offshore with a focus on safety, quality and operational performance. We operate approximately 81 drilling rigs in 14 countries, either directly or through our affiliates, employing people in Africa, Europe, the Middle East, the Caspian Sea and Canada. KCA Deutag consists of our business units: Land, Offshore and Kenera. Land and Offshore are our operational divisions delivering safe, effective, trouble-free operations across 20 countries. Kenera brings together our design and engineering specialists RDS and land rig and oilfield manufacturer Bentec under one business unit. Kenera was established to expand our offering in both hydrocarbons and energy transition markets, with three dedicated segments covering innovative services, technology and engineering, and manufacturing. For further information on KCA Deutag please visit kcadeutag.com

About Turboden
Turboden S.p.A., Mitsubishi Heavy Industries group company, is an Italian firm and a global leader in the design, manufacture, and maintenance of Organic Rankine Cycle (ORC) systems, highly suitable for distributed generation, that generate electric and thermal power exploiting multiple sources, such as renewables (biomass and geothermal energy), traditional fuels, and waste heat from industrial processes, waste incinerators, engines, or gas turbines. Today Turboden expands its technological solutions with gas expanders and large heat pumps to play a broader role in the decarbonisation of the district heating sector and of energy-intensive industrial processes. turboden.com

Contact Data

Eavor Technologies Inc.Eavor GmbH 
John RedfernDaniel Mölk 
President & CEOPresident 
John.Redfern@eavor.comDaniel.Moelk@eavor.com 
Tel: +1-650-269-2501Tel: +49 211 169759-0 

Disclaimer: “Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or CINEA. Neither the European Union nor the granting authority can be held responsible for them.”


Eavor’s next-generation geothermal project awarded €91,6 million grant from the European Innovation Fund

THỦ THUẬT HAY

Hướng dẫn sử dụng tính năng gửi email tự hủy với Gmail

Bên cạnh giao diện cập nhật mới thì người dùng sẽ được bổ sung thêm một số tính năng tiện lợi phục vụ cho việc gửi thư, tuy nhiên thì có vẻ sự bổ sung này chưa được đồng nhất khi mà ở lần trải nghiệm đầu tiên trên giao

Đưa tính năng dịch tức thời trên Galaxy Note 7 lên điện thoại Android

Galaxy Note 7 mới ra mắt của Samsung đang gây sự chú ý với hàng loạt công nghệ mới được tích hợp, người dùng cũng khá thích thú với tính năng dịch tức thời với bút S Pen, bài viết này sẽ hướng dẫn các bạn tích hợp công

Cách tăng / giảm độ sáng màn hình laptop dễ hiểu nhất ai cũng làm được

Bạn muốn chỉnh ánh sáng màn hình laptop phù với độ sáng ngày hoặc đêm của môi trường hoặc để tiết kiệm pin, nhưng chưa biết cách thực hiện sao cho dễ làm nhất. Bài viết sau của chúng tôi sẽ giới thiệu cho bạn cách

Hướng dẫn cách tăng độ nhạy màn hình cảm ứng trên Galaxy S9 và Galaxy S9 Plus

Ngày nay, các thiết bị smartphone đã được các nhà sản xuất trang bị màn hình chống xước tốt hơn, nhưng vì nhiều lý do khách quan mà người sử dụng thường có quan điểm dán thêm 1 lớp cường lực nhằm tạo cảm giác an toàn

Hướng dẫn xem U23 Việt Nam đá chung kết cực mượt, không bị delay

Bất kể nền tảng Android, iOS hay Windows lẫn Mac. Miễn bạn dùng mạng FPT, đây là cách xem U23 Việt Nam đá chung kết cực mượt, không bị delay.

ĐÁNH GIÁ NHANH

Kết quả kiểm tra độ bền Samsung Galaxy Z Fold3 5G: Vượt qua mọi thử thách một cách nhẹ nhàng

Galaxy Z Fold3 5G là một trong hai mẫu smartphone màn hình gập vừa được Samsung trình làng giữa tháng 8 vừa qua. Bên cạnh những tính năng và giá bán thì độ bền của X Fold3 5G rất được quan tâm. Ngay bây giờ chúng ta đã

Đánh giá HP EliteBook x360 - Màn hình xoay 360 độ, chú trọng bảo mật, giá 41,9 triệu đồng

Sản phẩm không chỉ thay đổi ngôn ngữ thiết kế, nâng cấp cấu hình phần cứng mà còn chú trọng hơn vào yếu tố bảo mật, nhiều tính năng tối ưu cho người dùng doanh nghiệp nhằm mang lại khả năng tự bảo vệ của thiết bị t

So sánh TECNO WX4 và Nokia 2: Bạn chọn sản phẩm nào trong giá 2 triệu?

Cùng là thiết bị giá rẻ tuy nhiên hai nhà sản xuất lại có cách lựa chọn chất liệu hoàn toàn khác nhau. Nếu như TECNO WX4 toàn bộ được cấu thành từ nhựa với phong cách tạo hình nguyên khối.