Calgary-based geothermal company Eavor receives $90M from feds

The funding will ‘accelerate’ the deployment of Eavor’s technology that provides clean, baseload heat and power using a closed-loop geothermal system, Freeland said

Article content

A Calgary-based geothermal company is receiving $90 million from the federal government to help it scale its technologies at a commercial level.

Eavor Technologies Inc. is the first recipient of Canada Growth Fund (CGF) support, a $15-billion federal program created in 2022 with the intention of supporting low-carbon finance initiatives.

Article content

Deputy Prime Minister and federal Finance Minister Chrystia Freeland made the announcement Wednesday afternoon in downtown Calgary.

Advertisement 2

Read More