Under the terms of the Strategic Collaboration Agreement, Hyper Energy and Eavor will closely collaborate to identify and evaluate new geothermal energy development projects, initially in Bulgaria and Southeast Europe. This partnership aims to leverage Eavor's cutting-edge closed-loop geothermal technology, the combined subsurface exploration and development expertise of both companies and Hyper Energy's in-depth knowledge and experience of southeast European geology to unlock new opportunities to accelerate investment and growth in sustainable geothermal power, heating, and cooling development projects across the region.
The first stage of the collaboration will focus on conducting comprehensive screening studies and market supply chain evaluations to identify areas of mutual interest, before moving on to the evaluation of the most prospective areas for the economic development of these next-generation geothermal energy projects. Both parties are committed to sharing expertise, resources, and costs to drive the success of these initiatives.
This Strategic Collaboration Agreement reflects the shared vision of Hyper Energy and Eavor to innovate and lead in the field of geothermal energy, contributing to a sustainable and secure energy future for the region.