Canada Growth Fund (CGF) is investing up to $138 million in Calgary-based Eavor Technologies to advance its closed-loop geothermal system, Eavor-Loop™, which delivers clean, dispatchable power without fracking or aquifers. The commitment includes an $89 million initial investment and $48 million contingent on performance.
Eavor has made major progress since CGF’s first $90 million investment in 2023, including commercial deployment in Germany and Canadian-developed innovations like Rock-Pipe™ and Eavor-Link™. CGF CEO Yannick Beaudoin praised the deal as a cleantech milestone. This marks CGF’s 13th investment since 2023, bringing its portfolio to $2.7 billion.
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