Eavor

Assembly Line

Eavor commences commercialization through major investment and landmark partnership with OMV

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Eavor, OMV, BP


Eavor Technologies Inc. (“Eavor”), the leader in globally scalable geothermal closed-loop technology, has completed the first close of their Series B equity round. OMV AG (“OMV”) leads the round with a €34 million (C$50mm) investment and has entered into a commercial agreement with Eavor to pursue large-scale deployment of Eavor-Loop™ technology in Europe and beyond. Follow-on investments from Eavor’s existing partners include bp Ventures, Eversource Energy and Vickers Venture Partners. Concurrently with the raise, Chubu Electric Power has converted its debenture.

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