Investing

Chevron and BP back renewable start-up focused on geothermal energy

0


Evor-Lite site.

Source: Eavor Technologies

Canada-based geothermal company Eavor Technologies on Tuesday announced a $40 million funding round that included participation from BP Ventures and Chevron Technology Ventures as big oil companies increase investments in renewable energy.

Geothermal power is renewable energy produced from underground heat. The U.S. Department of Energy calls geothermal a “vital clean energy resource,” noting that it emits little to zero greenhouse gases. While adoption rates differ from country to country, on the whole geothermal remains a nascent energy source.

With its new capital, Eavor is looking to commercialize its technology and scale its project pipeline….



Source cnbc.com

Why Democrats are right to use reconciliation for Covid relief package

Previous article

Winter storm shutters hundreds of Walmart stores, Amazon hubs

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Investing