Huisman, Eavor to develop new drilling technology for geothermal solution
Image by Eavor Technologies Inc
Eavor Technologies Inc and Dutch heavy installation equipment supplier Huisman Equipment BV on Wednesday said they are teaming up to develop next generation highly automated drilling technology for the manufacturing of the Eavor-Loop geothermal solution.
Under the partnership, Huisman will integrate drilling innovations developed by Eavor into new drilling factories to manufacture Eavor-Loops at lower construction costs, improved drilling speeds and lower operating costs.
The collaboration is expected to help Eavor to reach its cost target of USD 50 (EUR 42) per MWh or less for clean dispatchable power and improve capital efficiency, Eavor CEO John Redfern commented.
The agreement makes Huisman a preferred licensed solution supplier for Eavor. The two companies will also explore development opportunities for Eavor-Loop together.
The Eavor-Loop technology produces heat and electricity by capturing geothermal energy without any emissions. It circulates a benign working fluid in a closed loop, collecting heat from the natural geothermal gradient of the Earth. The Eavor-Lite demonstration project was commissioned in Alberta, Canada, in December 2019.