{"id":179305,"date":"2021-02-16T10:00:00","date_gmt":"2021-02-16T07:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/this-technology-could-transform-renewable-energy-bp-and-chevron-just-invested\/"},"modified":"2021-02-16T10:00:00","modified_gmt":"2021-02-16T07:00:00","slug":"this-technology-could-transform-renewable-energy-bp-and-chevron-just-invested","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/this-technology-could-transform-renewable-energy-bp-and-chevron-just-invested\/","title":{"rendered":"#\n  This technology could transform renewable energy. BP and Chevron just invested"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a37326a13a96\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a37326a13a96\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/this-technology-could-transform-renewable-energy-bp-and-chevron-just-invested\/#Eavor_promises_a_groundbreaking_form_of_geothermal_energy_that_could_be_installed_in_many_places_around_the_world\" >Eavor promises a groundbreaking form of geothermal energy that could be installed in many places around the world.<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/this-technology-could-transform-renewable-energy-bp-and-chevron-just-invested\/#Shots_from_a_virtual_tour_of_Eavors_full-scale_prototype\" >Shots from a virtual tour of Eavor&#8217;s full-scale prototype.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/this-technology-could-transform-renewable-energy-bp-and-chevron-just-invested\/#by_and\" >by and<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/this-technology-could-transform-renewable-energy-bp-and-chevron-just-invested\/#Jack_Denton\" >Jack Denton<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  This <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> could transform renewable energy. BP and Chevron just invested<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Eavor_promises_a_groundbreaking_form_of_geothermal_energy_that_could_be_installed_in_many_places_around_the_world\"><\/span>\n  Eavor promises a groundbreaking form of geothermal energy that could be installed in many places around the world.<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000166625\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       BP and Chevron have made a landmark expansion into geothermal energy on Tuesday, betting on a new technology that could prove to be the world\u2019s first scalable clean energy derived from a constant source: the natural heat of the earth,\u00a0<\/p>\n<p> The two major oil companies have headlined a $40 million funding round into a Canadian geothermal energy firm called Eavor. Based in Calgary, Eavor has pioneered a new form of technology that could feasibly be deployed in many places around the world.<\/p>\n<div class=\"paywall\">\n       The investment marks a key move into an area otherwise ignored by energy companies, which have largely looked to wind and solar projects in their efforts to diversify away from fossil fields.<\/p>\n<p>It is the first investment into geothermal energy for BP<br \/>\n        BP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202286639\/delayed\" class=\"positive\">+6.53%<\/bg-quote><br \/>\n       and a re-entry into the field for Chevron<br \/>\n        CVX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/205871374\/composite\" class=\"positive\">+0.58%<\/bg-quote><span>,<\/span><br \/>\n       which sold its geothermal assets in 2016.<\/p>\n<p>Eavor has previously only accepted angel investment and venture capital. The $40 million injection will be used to further research and development to help scale the power system to be price-competitive.<\/p>\n<p><strong>Also read:<\/strong> Even with $1.1 trillion firepower, this fund is battling rivals to get its hands on green-energy opportunities<\/p>\n<p>\u201cWe see Eavor\u2019s potential to be complementary to our growing wind and solar portfolios,\u201d said Felipe Arbelaez, BP\u2019s senior vice president of zero carbon energy. \u201cTechnology such as Eavor\u2019s has the potential to deliver geothermal power and heat and help unlock a low carbon future.\u201d<\/p>\n<p>Eavor has developed a new type of geothermal technology that, in very simple terms, creates an underground \u201cradiator.\u201d\u00a0<\/p>\n<p>The Eavor \u201cLoop\u201d consists of a closed-loop network of pipes installed\u00a0typically 3 kilometers to 4 kilometers below the earth\u2019s surface, originating and terminating in the same aboveground facility. The pipes are installed using advanced drilling techniques perfected in the oil patch.<\/p>\n<p>Liquid <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a>s in the pipes from the aboveground facility through the hot ambient underground environment, before naturally circulating back to the top of the loop. The hot liquid is then converted into electricity or transferred to a district heat grid.\u00a0<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>A major advantage to this type of energy is that it is constant, providing a base load of electricity to a grid system without requiring challenging battery solutions of intermittent wind and solar power.\u00a0<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        renoImageFormat-\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:94.84375%;\" data-mobile-ratio=\"94.84375%\" data-layout-ratio=\"94.84375%\" data-subtype=\"\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-299366?width=140&amp;size=1.0543657331136738 140w,\nhttps:\/\/images.mktw.net\/im-299366?width=540&amp;size=1.0543657331136738 540w,\nhttps:\/\/images.mktw.net\/im-299366?width=620&amp;size=1.0543657331136738 620w,\nhttps:\/\/images.mktw.net\/im-299366?width=700&amp;size=1.0543657331136738 700w,\nhttps:\/\/images.mktw.net\/im-299366?width=860&amp;size=1.0543657331136738 860w,\nhttps:\/\/images.mktw.net\/im-299366?width=1260&amp;size=1.0543657331136738 1260w\" sizes=\"(max-width: 140px) 100px,\n(max-width: 540px) 500px,\n(max-width: 620px) 580px,\n(max-width: 700px) 660px,\n(max-width: 860px) 820px,\n1260px\" src=\"https:\/\/images.mktw.net\/im-299366?width=620&amp;size=1.0543657331136738\" data-enlarge=\"https:\/\/images.mktw.net\/im-299366?width=1260&amp;size=1.0543657331136738\" alt=\"\" title=\"Shots from &lt;a href=&quot;https:\/\/eavor.com\/eavor-lite-virtual-tour&quot;&gt;a virtual tour&lt;\/a&gt; of Eavor's full-scale prototype.\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\">\n<h4 class=\"wsj-article-caption-content\"><span class=\"ez-toc-section\" id=\"Shots_from_a_virtual_tour_of_Eavors_full-scale_prototype\"><\/span>Shots from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/eavor.com\/eavor-lite-virtual-tour\">a virtual tour<\/a> of Eavor&#8217;s full-scale prototype.<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>      <span class=\"wsj-article-credit article__inset__image__caption__credit\" itemprop=\"creator\"><br \/>\n            Photo courtesy of Eavor.<br \/>\n          <\/span><br \/>\n  <\/figcaption><\/figure>\n<\/div>\n<p>       Unlike hydroelectricity, which relies on large sources of constant water flow, it is designed to be scaled, and Eavor envisions rigs installed under solar panel fields and in space-constrained regions like Singapore.<\/p>\n<p>Geothermal energy has been around for decades, enjoying a boom period in the 1970s and 1980s before largely falling out of the spotlight in the 1990s. Relying on heat below the surface of the earth, it has long been an attractive proposition for oil-and-gas companies, which have core expertise in below-ground exploration and drilling.<\/p>\n<p>The problem is that conventional geothermal technology relies on finding superhot water sources underground, making them expensive, risky, and rare bets. More recent advances have roots in the shale oil boom, and use fracking techniques to actually create the underground reservoirs needed to generate energy. But this can pose a problem from an environmental and sustainability standpoint.<\/p>\n<p>Eavor\u2019s solution doesn\u2019t require the exploratory risk of traditional geothermal energy or disrupt the earth the way that fracking-style geothermal does.<\/p>\n<p><strong>Plus:<\/strong> Tesla and other car makers will be impacted by Boris Johnson\u2019s new plan for electric vehicles. Here\u2019s how<\/p>\n<p>John Redfern, Eavor\u2019s president and chief executive, told MarketWatch that the system\u2019s predictability, established in field trials in partnership with Royal Dutch Shell<br \/>\n        RDSA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/206428183\/delayed\" class=\"positive\">+5.73%<\/bg-quote><span>,<\/span><br \/>\n       is repeatable and scalable, making it much like wind and solar installations.<\/p>\n<p>\u201cWe\u2019re not an exploration <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> like traditional oil and gas or traditional geothermal. We\u2019re a repeatable manufacturing process, and as such we don\u2019t need the same rate of return,\u201d Redfern said.<\/p>\n<p>\u201cBefore we even build the system, unlike an oil well or traditional geothermal, we already know what the outputs can be. Once it is up and running, it is super predictable,\u201d Redfern said. \u201cTherefore, you can finance these things exactly like wind and solar, with a lot of debt at very low interest rates.\u201d<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"by\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"by_and\"><\/span>by and<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Jack Denton\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Jack_Denton\"><\/span>Jack Denton<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21005575-02D4-D4B5-4572-D28AE197AC1F%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# This technology could transform renewable energy. BP and Chevron just invested &#8221; Eavor promises a groundbreaking form of geothermal energy that could be installed in many places around the world. BP and Chevron have made a landmark expansion into geothermal energy on Tuesday, betting on a new technology that could prove to be the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":179306,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-179305","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/179305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=179305"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/179305\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/179306"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=179305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=179305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=179305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}