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Eavor Loop | Geothermal Energy Transition | Global Energy Show
How the Eavor Loop Is Improving Access to Geothermal Energy Worldwide
Innovative geothermal projects are slowly taking over the energy sector. A fascinating example of this shift is how Eavor Technologies is generating electricity and renewable energy through heat exchange. Eavor Loop technology provides clean energy by using unique drilling technology to extract heat efficiently, and sustainably.
In our latest 5x5 series interview, Paul Cairns, Chief Business Development Officer at Eavor Technologies, sat down with Rachel Gregory, Digital Host at The Global Energy Show, to discuss Eavor Loop. Thanks to advanced processes, this Eavor Loop solution can provide access to thermal energy anywhere in the world— a feat that previously seemed nearly impossible.
Paul acknowledges that younger generations value the environment and Earth more than ever before and touches on how Eavor will help make the necessary difference for a sustainable future.
Providing Renewable Energy Anywhere in The World
Rachel: Today, we're chatting with Paul Cairns, Chief Business Development Officer of Eavor. Now, Paul, Eavor believes it can provide an affordable, renewable energy source anywhere in the world. Tell me more about that.
Paul: Eavor Loop works anywhere in the world, and we've proven that. The question is, of course, how much will it cost? Today, around 15 cents a kilowatt-hour is what we can deliver for reliable electricity anywhere in the world. We're working to get the price down, and our target is 5 cents a kilowatt-hour. We have what we believe are quite attainable targets in the next three, four, no longer than five years.
The primary focus is going to be the cost of drilling. Once you get down to 5 cents a kilowatt-hour, you have a load-following, zero-emitting, reliable energy source at 5 cents a kilowatt-hour. That means that everyone, regardless of where they are in the world, can use Eavor Loop solutions.
How The Eavor Loop Is Unique Compared to Other Geothermal Solutions
Rachel: What makes the Eavor Loop different from other geothermal technologies?
Paul: Out there? We think of Iceland. When we think of geothermal here in Canada, as an example, there are exactly zero megawatts of geothermal power at any price. Why is that? Is it because we don’t have good drilling techniques? No, we're excellent at drilling. Is it because we're not interested in those sorts of power sources? Many parts of Canada would be begging for it and are begging for that sort of reliable power source. It's simply that those rare rock conditions are hard to find.
With Eavor Loop, however, the rock conditions are virtually meaningless to us. Eavor Loop is not interacting with the rock; It doesn't require an aquifer; we are simply taking up well boar space, we're making holes in the ground. Our fluid passes through that hole, flowing through it, touching the sides of the hole, touching the hot rock. The rock behind it is hot, the rock behind that is hot, and through a form of conduction, the direct heat is transferred into the circulating fluid. The circulating fluid flows through and comes to the surface, and it efficiently takes the heat out of that working fluid.
Once it comes to the surface, it turns that direct heat into electricity and then sends the now cooled water back down to be put back through the system again and pick up new, fresh heat and on and on it goes. Eavor Loop is scalable globally-- traditional geothermal, fracking geothermal is not.
How Eavor Proves It’s Worldwide Scalability
Rachel: I'm no geoscientist, but perhaps, I mean Rocky Mountain House, it's not a crazy rock formation like you'd find in Iceland. So I guess that's the case in point your test site; it's working obviously in a place like Rocky Mountain House. So that kind of proves that perhaps this is something that could go anywhere.
Paul: The Rocky Mountain House location was chosen very intentionally for the reason that you just mentioned. Had we decided to demonstrate our technology facility in Iceland, I don't think anyone would've been impressed. You’ve got geothermal to work in Iceland. Did you? So what, how could you miss?
This location we picked in Rocky Mountain House had a lot of attributes to it that were the right sort of things that we wanted to improve. If Eavor Loop could work and be demonstrated there, then, as the market and world come to see it, they would feel confident that it would work in their environment, regardless of their location. So surely if Eavor Loop worked here, it would work anywhere.
How Eavor Technologies Impacts The Global Energy Show
Rachel: Why is it important for a company like Eavor to participate in the Global Energy Show?
Paul: There's an overall change happening in the world. There is a shift in where the money is going. There is a shift in values and what people are concerned about. It's important for us to be at the Global Energy Show. I think for very obvious reasons, we have a target to change this world from the energy stack point of view. The whole of the world, we are scalable and can go anywhere.
How Eavor Is Making a Difference in Today's Energy Sector
Rachel: So Paul, you've mentioned that Eavor is different, and it is. I've seen it through your AD campaign that you guys did with Rolling Stone. It's definitely a different taste than a traditional energy company or oil and gas company would take. So what's going on with that? Where did this idea come from?
Paul: We look for platforms that are different. We talk about change in the world and how that's gonna happen in the future. It's important to us to raise the overall profile of Eavor. It's not as important today for everyone to understand what it is that we do. It's this global opportunity. It's this looking at things differently. We believe it's important that the younger generation especially thinks that what we're doing is cool.
Rachel: Absolutely. It was clever. I loved it. I thought it was great marketing. So, well done and thank you so much, Paul. This was so great chatting with you and learning about Eavor, and I'm really excited to follow your guys' future and proud to know that a company like this exists here in Alberta. So thank you so much. Thank you.
Learn More About the Future of Renewable Energy
As the younger generation becomes influenced by the innovative technologies and practices that directly affect our environment, it’s important to promote the future of long-term green solutions and geothermal technology.
If you're interested in learning more about innovative sustainable energy technology from those actively changing the game in North America's energy industry, register for the next Global Energy Show today.