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§ Private Profile · Calgary, AB, Canada
Develops Eavor-Loop closed-loop geothermal systems, providing clean, scalable, carbon-neutral baseload heat and power for decarbonization.
Eavor is a Calgary, Alberta-based energy technology company that develops closed-loop geothermal systems to provide dispatchable, carbon-neutral baseload heat and power. The organization utilizes advanced oil and gas drilling techniques to extract deep underground heat without relying on subterranean water sources, enabling scalable district heating and electricity generation for municipalities and utility grids. To date, the enterprise has raised over $500 million in equity funding to commercialize its proprietary energy infrastructure globally. This international expansion includes securing a €91.6 million grant from the European Union to support its commercial-scale facility located in Geretsried, Germany. The company's capital structure is backed by major corporate and institutional investors, including bp Ventures, Chevron Technology Ventures, Microsoft, and the Canada Growth Fund. Eavor was officially founded in 2017 by co-founders John Redfern, Jeanine Vany, and Paul Cairns.
Eavor has raised $285.5M across 6 funding rounds.
Eavor has raised $285.5M in total across 6 funding rounds.
Eavor has raised $285.5M across 6 funding rounds. Most recently, it raised $182.0M Other Equity in October 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Oct 28, 2023 | $182M Venture Round | OMV | BDC, BP Ventures, Patrick Charbonneau, Eversource Energy, Japan Energy Fund, Adrian Anderson, Monaco Asset Management, Temasek, Vickers Venture Partners | Announced |
| Jun 17, 2023 | $37.9M Series B | Berislav Gaso | BP Ventures, Eversource Energy, Vickers Venture Partners | Announced |
| Jan 31, 2023 | $7.5M Venture Round | BP Ventures | Helmerich & Payne | Announced |
| Feb 16, 2021 | $40.1M Venture Round | — | BDC Capital, Felipe Arbelaez, Chevron Technology Ventures, Eversource Energy, Temasek, Vickers Venture Partners | Announced |
| Sep 26, 2019 | $11.3M Series A | Finian TAN | — | Announced |
| Apr 26, 2019 | $6.7M Venture Round | Amarjeet Sohi | — | Announced |
Eavor has raised $285.5M in total across 6 funding rounds.
Eavor's investors include OMV, BDC, BP Ventures, Patrick Charbonneau, Eversource Energy, Japan Energy Fund, Adrian Anderson, Monaco Asset Management, Temasek, Vickers Venture Partners, Berislav Gaso, Helmerich & Payne.