Eavor Technologies Inc. is only one of six Canadian cleantech companies that has received funding to deploy and develop innovations towards a net-zero economy. The total investment for this funding round is C$19.1 million.
Eavor has secured C$4.3 million in funding from Sustainable Development Technology Canada (SDTC). This funding will be used for the further development of the Eavor-Loop technology, the first scalable form of clean baseload power.
“Canadian clean technologies have the power to transform the world. Today’s investment will enable entrepreneurs at every stage to commercialize the ideas that will help Canada meet its 2030 climate commitments and reach net zero by 2050. This is how we see our country’s future: undeniably green.” said the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry.
In February of this year, Eavor Technologies completed a $40 million funding round from various venture funds from firms including BP and Chevron.