(MENAFN - GlobeNewsWire - Nasdaq) Calgary, Alberta, Aug.22, 2019(GLOBE NEWSWIRE) -- Eavor Technologies Inc. has developed an innovative 'made in Alberta' geothermal energy solution. In a demonstration project near Rocky Mountain House, the Eavor-Lite™ project uses existing Alberta oil and gas drilling technology and expertise to facilitate a revolutionary and unique energy system known as 'Eavor-Loop™'.
Building on years of research and development, the proprietary technology has recently gained substantial support both privately and with the investment of one million dollars from each of Alberta Innovates and Emissions Reduction Alberta.
In a gathering today many were witness to the construction of the Eavor-Lite™ demonstration facility and therein a World's first of its kind drilling operation.
Eavor's technology and the Eavor-Lite™ facility provides a vital step to re-energizing and re-engaging our Alberta energy services industry. With only minor reconfiguration of existing oil and gas technology, Eavor™ can help our industry take hold of new opportunities, without the reliance of commodity prices or the issues around pipeline infrastructure and regulatory uncertainty. Alberta's energy services workforce comes fully trained for the job of constructing commercial Eavor-Loop™ systems, and now simply need the opportunity. Eavor's™ technology is providing inspiration and hope to the thousands of Albertans, who are ready to work.
'The Government of Alberta is very supportive of innovative projects like Eavor-Lite, which have the potential to create private sector jobs and further diversify the energy industry in our province.'
- Prasad Panda – Minister of Infrastructure
'Projects like the Eavor-Lite demonstration advance new technologies and can create highly skilled jobs. They show how investing in innovation reduces GHG emissions while growing the economy. Projects like this are possible because of the experience and unique approaches in energy services, drilling and technology development that are found in Alberta.'
- Laura Kilcrease – CEO, Alberta Innovates
'ERA is pleased to work with our partners to advance promising technologies toward commercialization. If proven successful, 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
'Alberta is truly the 'Silicon Valley' of energy services. The Eavor-Loop™ system incorporates the best of our province's energy technology capabilities and prowess, to provide a new and sustainable opportunity for our world-renowned drilling industry. The net result is a uniquely scalable source of emissions-free baseload power.'
- John Redfern, President & CEO - Eavor Technologies Inc.
'Precision Drilling is proud to contribute our High Performance – High Value, drilling services and expertise to enable the development of a sustainable non-traditional energy alternative. The opportunity to take advantage of experience and capabilities, leveraging years of investment in our People, Drilling Rigs and Drilling Technology, for the development of a sustainable zero emission energy alternative is exciting for Precision Drilling.'
- Kevin Neveu – President & CEO - Precision Drilling
'Certus is excited to be working with Eavor to construct the world's first continuous loop geothermal system, and it's great to see Eavor utilizing Canadian energy industry expertise to help develop this transformative approach to harnessing geothermal energy.
- Robert Brady – President & CEO - Certus Oil and Gas Inc.
- The Eavor-Loop™ technology harnesses the Earth's natural heat kilometers underground to be used at surface for heating or to generate electricity. While the gathering of geothermal energy 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 will test the technology at near-commercial scale. The facility once complete serves as a testbed an proxy for commercial Eavor-Loop™ implementations globally.
- Project supporters, vendor partners and partners include: Precision Drilling ( www.precisiondrilling.com ); Shell New Energies ( www.shell.com ); Shear Fluids ( www.shearfluids.com ); Certus Oil and Gas ( www.certusoil.com ); Rangeland Engineering Canada ( www.rangelandeng.com ); the University of Alberta; Codeco-Vanoco Engineering ( www.vanococonsulting.com ); the University of Toronto; Enlighten Geoscience Ltd. ( www.enlightengeoscience.com ); Petrel Robertson Consulting ( www.petrelrob.com ); Chinook Petroleum ( chinookpetroleum.com ); and GLJ ( www.gljpc.com ).
- As the Government of Alberta looks at ways to encourage the development of new and cleaner Alberta-based technologies to reduce emissions, innovative technologies—such as geothermal—will help attract new investment and diversify our vast natural resource potential. We are confident that Alberta-based technologies will lead the next generation of geothermal engineering while illustrating that Alberta is open for business. A strong research and innovation system gives our province a competitive edge, positions Alberta for continued success in the global economy, and attracts foreign investments.
- Alberta Innovates invests in research, innovation and entrepreneurship to drive provincial economic growth and diversity. We ignite the power of innovation through our work with researchers, industry and entrepreneurs to move Alberta to a lower-carbon future, enhance the responsible use of land and water, and contribute to the improved health and well-being of Albertans.www.albertainnovates.ca
- Emissions Reduction Alberta invests the proceeds from carbon pricing paid by large final emitters to reduce GHGs and build the resilience of new and incumbent industries in Alberta. Their investments help innovators develop and demonstrate GHG-reducing technologies that enable new business opportunities and build on existing ones.www.eralberta.ca
Eavor-Lite News Release
Eavor-Lite Demonstration Facility