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