Eavor Technologies, the leader in globally scalable geothermal technology, announces that Chubu Electric Power (“CHUBU”) has entered an agreement to make a direct investment in Eavor and support the commercialization of Eavor-Loop™ technology.

Along with CHUBU’s investment they will have a representative on Eavor’s Board of Directors. CHUBU’s presence and influence will be of paramount importance as Eavor completes first projects and enters its global commercialization phase.  

The Eavor-Loop™ system differs from conventional geothermal solutions as it uses conduction to retrieve heat from the earth’s subsurface, resulting in a long-term, reliable, predictable and independent supply of renewable energy. This completely closed loop system provides a highly scalable source of heat and power without the typical exploration risk.

Mr. Hiroki Sato, Senior Executive Managing Officer at CHUBU, commented: 
“A technology such as this is a true game-changer and represents a potential transformation to the world’s energy stack, addresses climate change as well as energy autonomy and independence issues simultaneously. CHUBU is excited to be working with Eavor and supporting a solution to some of the world’s most intractable problems. This is an important strategic step for CHUBU fully aligned with our Management Vision 2.0 which defines CHUBU’s efforts to achieve sustainable growth”.

John Redfern, President & CEO at Eavor, stated that: 
“The opportunity and plan for global deployment of this technology requires partners like CHUBU. The involvement of CHUBU as one of our partners and Board members represents a fantastic endorsement of our technology, its commercialization and global scalability. Ultimately, when it lives up to its potential, Eavor’s solution is not only the missing element needed to fully decarbonize the world’s energy supply, it is also an opportunity for localized economies to obtain resilient, independent, autonomous, domestic energy resources. This changes everything.”

KeyFacts Energy Industry Directory: Eavor