Investments from BP and Chevron will support the thermal energy technology developer’s goal of supplying 10 million homes’ worth of power by the end of the decade.
Canada-based geothermal energy technology developer Eavor Technologies secured $40m yesterday in a round backed by oil and gas producers BP and Chevron and the pension fund of utility Eversource Energy.
BP and Chevron invested through their respective corporate venturing units, BP Ventures and Chevron Technology Ventures, while Eversource Retirement Plan Master Trust, the pension fund of utility Eversource Energy also participated in the round.
Singaporean state-owned investment firm Temasek, Vickers Venture Partners and BDC Capital filled out the round.
Eavor’s…
