Ben Geman of Axios reports on Eavor, a geothermal startup.
- Calgary-based geothermal startup Eavor has signed an agreement with the EU Innovation Fund for $96 million to launch a project in Germany.
- Eavor has also signed a power purchasing agreement with Nevada’s NV Energy and will work with Sonoma Clean Power in California.
- In 2021 Eavor received $40 million from Chevron and BP to expand its operations.
- Geothermal energy, which is clean and reliable, is gaining increased attention in the U.S. and abroad.
“Overall, the Calgary-based firm has raised roughly $220 million to date in VC and grant finance, and is now raising a $145 million Series B round, Redfern tells Axios.”
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