In this episode of the Prospector Podcast, Michael Fox, had a conversation with John Redfern, the President and CEO of Eavor Technologies, a next-generation geothermal energy company. John explained that Eavor Technologies is different from traditional geothermal companies as it doesn’t rely on finding hot aquifers in volcanic or specific fire areas. Instead, they build a massive subsurface radiator using drilling innovations from the Shale Revolution. Their first commercial project has 280 kilometers of well bore, with water pumped to the surface through a thermosyphon effect without a carrier fluid. This makes their process scalable and risk-free. John also mentioned that there has been a resurgence of interest in geothermal energy, with dozens of companies raising significant amounts of money for technology development. He highlighted that Kenya generates over 50% of its electricity from geothermal sources, making it the country with the highest percentage of geothermal power generation.

Geothermal Energy Advantages and Scalability

John discussed the advantages of geothermal energy over traditional fossil fuels, highlighting its scalability, independence, and potential to reduce greenhouse gas emissions. He explained that geothermal energy can be produced locally, reducing the need for pipelines and transmission lines, and can be self-sufficient at the town level. John also mentioned that their company, Ever, is developing a proprietary technology that can be licensed to larger companies, enabling faster scaling up. He noted that their initial project in Germany is expected to be operational by next summer. Michael inquired about the timeline for a geothermal project compared to building an SMR, and John responded that geothermal projects can be faster to implement due to their proprietary design and licensing capabilities. John also mentioned that their technology is of interest to countries like Japan and the Netherlands, and that they are in talks with hyperscalers like Amazon and Microsoft.

Ever Loop Technology and Water Usage

Michael and John discussed the unique features of Eavor’s technology, which involves drilling two wells simultaneously and creating a large radiator-like structure. This structure, called the “ever loop,” allows for a continuous flow of water through the system, creating a thermosaving effect. The water is fresh and not reliant on an aquifer, and it can be used for district heating or to generate electricity. John also mentioned that the system uses minimal water and is not reliant on materials like uranium. Michael, located in an area surrounded by saltwater, asked if saltwater could be used in the system, to which John responded that while it could be used, fresh water is preferred due to its lower maintenance and corrosion risks.

Eavor Technologies