A Calgary geothermal company, Eavor Technologies Inc., has been awarded a grant from the European Innovation Fund (EIF) in support of the Canadian firm’s geothermal project in Germany.
The grant is worth €91.6-million, which is about $135 million Cdn.
The innovation fund hands out financial incentives to companies investing in low-carbon technologies in Europe.
“What’s interesting about it is not just the money, which is always welcome. It’s the validation of being a small Canadian startup and getting one of these awards,” said John Redfern, CEO of Eavor, in a Calgary Eyeopener interview.