Temasek, Vickers Ventures lead funding round for Canadian energy firm
The energy company raised US$40m in the round.
Canadian startup energy company Eavor Technologies Inc. raised more than $53m (US$40m) in an undisclosed funding round led by Singapore venture capitalists Temasek and Vicker Ventures.
Eavor’s technology, known as Eavor-Loop, uses the natural heat of the earth like a giant rechargeable battery. Fluids are heated by the earth and circulated in a closed network of underground wellbores, unlocking a reliable and consistent energy source.
The investment will be used to bolster Eavor’s ongoing research and development efforts to drive the cost of Eavor-Loops clean dispatchable power to a price point that is competitive in all markets.
Other investors include bp ventures, Chevron Technology Ventures, BDC Capital, and Eversource1.
Workplace 3.0: Transforming work environments to support innovation and meaningful work
The race to gender equity for Asia’s startups
How Many Apps Does It Take to Change a Workplace?
In an era of zero-sum thinking, business leaders must unlock a mutually beneficial future
Diversifying your portfolio: Alternative investments in Singapore to consider in a low-interest rate environment
Navigating the digital future: A closer look at Singapore Budget 2023 measures in view of the rapidly changing workplace