CALGARY, Alberta, DÜSSELDORF, Germany and BRESCIA, Italy – July 5, 2022 (GLOBE  NEWSWIRE) 

Eavor, the leader in scalable geothermal energy, has selected Turboden S.p.A. (“Turboden”) for  the development of their project in the South of Germany in Geretsried (Bavaria). This  investment in Turboden’s Organic Rankine Cycle (“ORC”) system will be used in the first  commercial Eavor-Loop™ project harnessing heat from the Earth to deliver electricity to the  local market. 

The project, will have a capacity of 8.2 MWe (4 loops and a single ORC generator) when it  reaches its full capacity. The assumed date of initial power production is 2024 and will be  ramped up into 2026 when the plant is operating at full capacity. 

Eavor estimates 4,900 homes per Eavor-Loop™ will be powered with clean energy harnessed  from the Earth. 

The full 8.2 MWe project will result in ~44,000 tCO2e GHG emissions avoided per year  including anticipated heat offtake in addition to the power sales. Eavor further estimates 150  drilling services and powerplant/infrastructure jobs will be created during the construction  phase of the project. 

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. Eavor’s technology  differs from other forms of geothermal in that it is a scalable “go anywhere” solution,  harvesting geothermal heat to generate dispatchable power and heat with zero emissions. 

“Eavor is capable of designing and constructing this ORC power plant simultaneously with the  drilling phase of the project due to our confidence in the thermal calculations and process  engineering,” states Daniel Mölk, Eavor’s Germany Country Manager. “This demonstrates the  specific nature and predictability of a closed-loop system and we are excited to have found a  great partner in Turboden” 

“It is an extraordinary achievement to have an agreement like this in place prior to drilling and  serves to maintain Turboden’s market leadership in Germany,” states Joseph Bonafin, Sales  and Business Development Manager for Turboden, “This project aligns with Turboden’s  mission to reduce global warming and the consumption of fossil fuels. Maintaining a process  of continuous evolution is part of our DNA and Eavor is a perfect partner for us.”

Contact: 

Eavor Technologies Inc. 

Daniel Mölk 

Germany Country Manager 

+49 211 42471-5692 

presse@eavor.de 

www.eavor.de 

About Eavor: 

Eavor (pronounced “Ever”) is a technology-based Energy company led by a team dedicated to  creating a clean, reliable and affordable energy future on a global scale. Eavor’s solution  (Eavor-Loop™) represents the world’s first truly scalable form of clean dispatchable power.  Eavor achieves this by mitigating or eliminating many of the issues that have traditionally  hindered geothermal energy. Eavor instead circulates a benign working fluid which is  completely isolated from the environment in a closed-loop, through a massive subsurface  radiator. This “radiator” simply collects heat from the natural geothermal gradient of the Earth  via conduction, at geologically common and drilling accessible rock temperatures. Further  inquiries: Eavor Technologies Inc.: www.eavor.com 

About Turboden: 

Turboden S.p.A., founded in 1980, is an Italian firm and a global leader in the design,  manufacture and maintenance of Organic Rankine Cycle (ORC) systems, highly suitable for  distributed generation, that generate electric and thermal power exploiting multiple sources,  such as renewables (biomass, geothermal energy, solar energy), traditional fuels and waste  heat from industrial processes, waste incinerators, engines or gas turbines. Today, with more  than 400 plants worldwide, Turboden expands its solutions with gas expanders and large heat  pumps to play a broader role in the decarbonisation of the district heating sector and of some  energy-intensive industrial processes.