# Eavor Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/eavor-technologies

- Industry: Renewable Energy
- Headquarters: Calgary, Canada
- Website: www.eavor.com/
- Total disclosed funding: $92M
- Latest round: Series B (Oct 25, 2023)
- Investors on record: 9

## About

Eavor Technologies Inc., based in Canada, develops innovative geothermal solutions, focusing on its flagship product, the Eavor-Loop™, to deliver efficient, clean energy alternatives without traditional geothermal drawbacks.Founded in 2017 in Calgary, Canada, Eavor Technologies Inc. specializes in Next Generation Geothermal technology. The company has raised a total of CAD 90.00 mn in its latest funding round, Series B, led by OMV Germany GmbH, with other prominent investors including BDC Capital, BP Ventures, and Microsoft Climate Innovation Fund. The firm has successfully completed 12 funding deals, with its most recent deal occurring on February 19, 2024. As of 2026 Mark Fitzgerald is leading the firm as CEO. Eavor Technologies Inc. offers Next Generation Geothermal technology, prominently featuring the Eavor-Loop™, a closed-loop geothermal system designed for efficient thermal energy extraction. Launched in 2019, the Eavor-Lite™ Demonstration Facility near Rocky Mountain House, Alberta, serves as a testing site, targeting energy providers and municipalities seeking reliable energy solutions across North America and Europe.Operating within a B2B framework, Eavor Technologies Inc. generates revenue primarily through partnerships and long-term agreements with energy providers and municipal clients for the installation and maintenance of Eavor-Loop™ systems. Revenue is derived from upfront capital investments and ongoing maintenance fees, aligned with providing sustainable energy solutions through enhanced energy autonomy.In February 2024, Eavor Technologies Inc. secured additional funding to enhance its financial stability and further develop its geothermal technologies across various industries. The company anticipates expanding its market presence beyond North America and Europe to respond to the growing demand for clean baseload power, exploring new geographical regions. The newly acquired resources will support these initiatives, allowing for an increased focus on product development and market expansion.

## Funding rounds

- Series B, Oct 25, 2023, $65M — BDC Capital, Temasek Holdings, Vickers Venture Partners, Monaco Asset Management, BP Ventures, Eversource Energy, OMV Germany GmbH, Microsoft Climate Innovation Fund, Japan Energy Capital
- Series B, Jun 9, 2023, $16M — Vickers Venture Partners, BP Ventures, Eversource Energy, OMV Germany GmbH, Japan Energy Capital
- Series A, Sep 24, 2019, $11M — Vickers Venture Partners

## Investors

- Vickers Venture Partners (https://capitalatlas.ai/funds/vickers-venture-partners) — Series A, Series B
- BP Ventures (https://capitalatlas.ai/funds/bp-ventures) — Series B
- Eversource Energy — Series B
- OMV Germany GmbH — Series B
- Japan Energy Capital (https://capitalatlas.ai/funds/japan-energy-capital) — Series B
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series B
- Temasek Holdings — Series B
- Monaco Asset Management (https://capitalatlas.ai/funds/monaco-asset-management) — Series B
- Microsoft Climate Innovation Fund (https://capitalatlas.ai/funds/microsoft-climate-innovation-fund) — Series B