CALGARY, Alberta, Feb. 05, 2020 (GLOBE NEWSWIRE) -- Eavor is pleased to announce the full completion and 3rd party validation of the Eavor-Lite demonstration project near Rocky Mountain House, Alberta. Eavor's technology, known as "Eavor-Loop" captures geothermal energy to produce steady and dependable heat and electrical power without emissions of any kind. Unlike traditional geothermal power plants, an Eavor-Loop works at drilling depths which have geologically common parameters and characteristics; enabling implementation almost anywhere in the world. This technology represents the opportunity to transform the world's energy stack, redefine how energy is produced and address climate change.
In parallel with the successful demonstration, Eavor has assembled a multi-year, multi-billion-dollar prospect pipeline. Eavor is now working with strategic partners and investors to begin first commercial projects.
"Eavor's innovative technological solution has been built, developed and demonstrated upon the foundations of the world-renowned drilling industry and energy services sector in Western Canada; together considered to be the "Silicon Valley" of energy services. The net result is that the Eavor-Loop solution is now poised to provide a uniquely scalable source of emissions-free baseload power to the world."
- John Redfern, President and CEO, Eavor Technologies Inc.
The Eavor-Lite demonstration project broke ground on August 2nd, 2019, when two Precision Drilling rigs commenced simultaneous operations in Clearwater County, Alberta. As part of the world's first drilling program, multi-lateral horizontal drilling intersections were made safely and successfully on September 1st & 11th, 2019. The drilling phase was completed on-time and on-budget on September 16th, 2019, 46 days after it began. Construction of the surface facilities and pipeline began on October 1st. On December 3rd, 2019 the facility was commissioned and then switched to "thermosiphon mode" on the morning of December 4th, 2019. The flowrate and temperature have remained steady and consistent since then.
During construction many private tours were conducted for international and domestic delegations of government regulators, scientists and private corporations from 11 different countries. These tours allowed our potential partners to witness the Eavor technology that will power the world's first fully functioning closed-loop energy extraction system: Eavor-Loop. Eavor is preparing for another round of tours which may be arranged by connecting with Eavor directly.
The Eavor-Lite demonstration was designed to prove out 3 key categories of intellectual property:
- Drilling and intersecting a multilateral Eavor-Loop
- Complete the system using Rock-Pipe technology and pressure test
- Validate thermodynamic performance and demonstrate thermosiphon
TNO, the Netherlands Organization for applied scientific research, operating out of their head office in Utrecht, Netherlands has provided an independent assessment of the Eavor-Lite project. This report is currently being updated with the recent field results and will be made available to interested parties under non-disclosure agreements.
"With all the elements of Eavor-Lite being successfully completed, and independently validated by 3rd parties, Eavor is now in full swing to commercialize the technology worldwide."
- Robert Winsloe - EVP, Sales & Marketing
Eavor Technologies Inc. would like to acknowledge our key vendor partner Precision Drilling, contributing partner Shell International Exploration and Production, via its New Energies Research & Technology program, as well as our financial partner; Vickers Venture Partners.
"Precision Drilling has been involved with Eavor Technologies since close to its inception and we are thrilled to have contributed to the successful Eavor-Lite demonstration project. Eavor-Lite presented the opportunity to utilize Precision's High Performance, High Value services to drill the multi-lateral and connected horizontal wells, which was an important technical objective for Eavor and an outcome we were confident we could deliver. Precision is a strong supporter of Eavor and understands the importance of developing innovative sustainable alternative energy sources. We look forward to providing our services for the commercial implementation of Eavor's geothermal energy technology."
- Kevin Neveu - President and CEO, Precision Drilling Corporation
"In searching for the next breakthrough in geothermal energy, we at Shell brainstormed what was holding geothermal energy back. We recognized that Eavor-Loop, and its conduction-only closed-loop design, may have the potential to address many of these concerns. That is why we collaborated with Eavor on their Eavor-Lite demonstration project - and look forward to learning from the results."
- Malcolm Ross - Geothermal Focus Leader, Shell New Energies Research & Technology
"We have been working with Eavor through the construction phase of Eavor-Lite and are very pleased with its outcome. We remain convinced that Eavor can change the energy industry as we know it by ending the traditional energy balancing act between scalable baseload solutions and intermittent green solutions. Eavor instead delivers what the world truly needs; scalable, green, baseload energy."
- Dr. Finian Tan - Vickers Venture Partners' Chairman
It is further acknowledged the support Eavor received from the Government of Canada and Government of Alberta via SDTC, NRCan, AI and ERA; totaling $8.7 million in grant funding towards the Eavor-Lite facility.
"Eavor Technologies has opened new doors to a sustainable future for Canadians. With the successful demonstration of dependable, scalable and emissions-free geothermal energy, Eavor is challenging the industry to rethink the limitations of clean energy solutions. SDTC is proud to invest in the industry innovators at Eavor and to support their continued success as they commercialize the technology worldwide."
- Leah Lawrence, President & CEO, Sustainable Development Technology Canada
"ERA is pleased to work with our partners to advance promising technologies toward commercialization. Eavor Technologies' innovative approach to heat and power production could unlock geothermal opportunities both within and outside of Alberta, demonstrating to the world that we are taking real action to deliver global solutions."
- Steve MacDonald, CEO, Emissions Reduction Alberta.
"The Eavor-Loop shows how we can grow and transform our existing industries in ways that help the environment and the economy. Eavor is a compelling example of the value added through strategic partnerships in the field of innovation and energy."
- Laura Kilcrease, CEO, Alberta Innovates
Eavor-Lite
The Eavor-Lite demonstration facility is a full-scale prototype of the technology built to de-risk the key technical components of Eavor's proprietary Eavor-Loop technology. The project is located east of Rocky Mountain House, near the town of Eckville, AB, in an area with average geothermal gradient and bottom hole temperatures. The target circulating formation is the Rock Creek, a quartz sandstone. Eavor-Lite is comprised of an Eavor-Loop with two ~1700m multilaterals, 2 vertical wells approximately 2.5 km apart that are connected on surface with a pipeline, and a test facility. The circulating fluid picks up heat in the subsurface loop, exits at surface, and the thermal energy is discharged in an aerial cooler within the test facility. The layout of the multilateral junctions, multilateral wellbore intersections created using Eavor's Rock-Pipe protectant, and thermodynamic performance are the same as a commercial design.
About Eavor Technologies Inc:
Eavor's solution
Quick facts
- The Eavor-Loop technology harnesses the Earth's natural heat kilometers underground to be used at surface for heating or electricity generation. While the geothermal energy production is not new, Eavor's technology is highly scalable and holds the promise to be a significant global energy source which does not have the intermittency issues of traditional renewable power systems.
- The Eavor-Lite demonstration project is designed to showcase Eavor's unique and proprietary design elements. The demonstration project began drilling in early August and tests the technology at near-commercial scale. The facility, now complete, serves as a testbed and proxy for commercial Eavor-Loop implementations globally.
Related Information
www.eavor.com
https://eavor.com/eavor-lite/
https://vimeo.com/301259525
Media Contacts
Eavor Technologies Inc.
John Redfern - President and CEO, Director
650-269-2501
info@eavor.com
www.eavor.com
