Geothermal finds footing in the energy market with Temasek-backed technology
Add BT as a preferred source
CANADA-BASED geothermal technology company Eavor Technologies has raised over C$100 million (S$106 million) from investors globally, including Temasek, Vickers Venture Partners, and the venture arms of oil majors BP and Chevron.
"Singapore has the highest chunk of our equity of any country," said Eavor's president and chief executive officer John Redfern, referring to the combined stakes of Vickers (20 per cent) and Temasek (8 per cent).
Why the vested interest in geothermal energy? Historically, geothermal has been regarded as a form of niche renewable energy due to its cost and practical challenges.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Rare brutalist Singapore house opens to the public before changing hands
