Eavor

Eavor Technologies was founded in 2017 in Calgary, Alberta, Canada by John Redfern, Paul Cairns Winsloe, Tony Simunovic, and other co-founders. Redfern, a serial entrepreneur with deep energy industry roots, conceived the company's core innovation while exploring how Alberta's extensive oil and gas infrastructure and workforce could be repurposed for clean energy. The company's name combines "everywhere" and "power" as a deliberate signal of its global ambition. Redfern led the company as CEO from founding until June 2025, when he stepped down for personal reasons; Winsloe — who had architected Eavor's global market strategy and project pipeline as a co-founder — assumed the CEO role. Eavor is headquartered in Calgary with development operations in Germany, Japan, the United States, and Taiwan.

Eavor's long-held mission is to make geothermal power development possible at scale, everywhere. The company was founded on the observation that conventional geothermal is too dependent on specific geological conditions — active volcanic zones and natural hydrothermal reservoirs — limiting its applicability to a small fraction of the Earth's surface. Eavor's answer is the Eavor-Loop™, the world's first truly scalable closed-loop geothermal system, which circulates a proprietary working fluid through a massive sealed underground circuit, extracting heat purely through conduction from surrounding rock. Unlike open-loop systems that require water extraction from the subsurface, the Eavor-Loop eliminates reservoir uncertainty, minimizes induced seismicity risk, and can be deployed in almost any geology.

Eavor is an independent private company that has raised over $365 million in equity and grant funding. Its October 2023 round raised $182 million led by OMV AG, with participation from Canada Growth Fund ($90 million), Japan Energy Fund, and Microsoft Climate Innovation Fund. Additional investors include bp Ventures, Temasek, BHP Ventures, Chevron Technology Ventures, and Kajima Corporation. In June 2025, Canada Growth Fund committed a further C$138 million. The company also received a €91.6 million European Innovation Fund grant in 2023. Its investor base spans oil majors, sovereign wealth entities, technology giants, and infrastructure funds across four continents.

Eavor's first commercial-scale project — the Geretsried Eavor-Loop™ in Bavaria, Germany — is the world's first deployment of closed-loop geothermal at commercial scale, and is on track to deliver low-carbon heat and electricity to local households and businesses in 2026. In 2025, Eavor signed the first corporate power purchase agreement for geothermal energy in Taiwan with Google. The company has been recognized on the Global Cleantech 100 and has active project pipelines across North America, Europe, and Asia-Pacific, positioning it as the global leader in closed-loop geothermal technology.