Huisman & Eavor to Collaborate on Next Generation Drilling Technology

Source: 9/30/2020, Location: Europe

Huisman and Eavor are pleased to announce an agreement to collaborate on the design and construction of the next generation of highly automated drilling technology focused on the implementation of Eavor’s geothermal solution (Eavor-Loop™) on a massive scale.

Eavor is working on several potentially disruptive drilling innovations which will expand the geographic deployment opportunities for the Eavor-Loop™ technologies while also improving capital efficiency. Huisman, as a leading designer and manufacturer of automated drilling equipment, is ideally suited to integrate Eavor’s drilling innovations into new highly automated drilling factories dedicated to efficiently manufacturing Eavor-Loops. These drilling factories will reduce Eavor-Loop™ construction costs, with improved drilling speeds and reduced operating costs, while also providing maximum worker and environmental safety.

“We have followed the development of Eavor’s scalable clean dispatchable energy solution and became convinced that we could help Eavor move its solution to the next level with our innovative rig design capabilities. Working together with Eavor’s team, we are designing and developing new drilling rigs that will facilitate Eavor-Loop™ implementation on a massive scale.” - David Roodenburg, CEO of Huisman.

“The Eavor-Loop™ solution, initially developed and demonstrated in North America, will now benefit from our relationship and combined efforts with Huisman to reach our cost target of $50/MWh or less for clean dispatchable power and contributes to our ambition to enhance capital efficiency. To this end we look forward to a long and close collaboration with Mr. David Roodenburg and his team at Huisman.” - John Redfern, President and CEO, Eavor Technologies Inc.

Further alignments between the two companies include:
Huisman has been designated as one of Eavor’s Preferred Licensed Solution Suppliers; and Huisman Geo and Eavor are to jointly explore Eavor-Loop™ development opportunities;

“We have followed the achievements of Eavor and see that their closed-loop geothermal system solution could potentially be competitive with mainstream renewable solutions, as it enhances the complex features of traditional geothermal exploration. Specifically, the fact that the Eavor-Loop™ system does not rely on subsurface reservoirs is a huge advantage.” - Peter de Vin, Director Huisman Geo

“Eavor, for some time now, has been working with an excellent and enthusiastic group of professionals and technicians at Huisman on new highly automated multi-derrick drilling rigs incorporating the latest in machine learning. We are thrilled to continue this relationship and believe the Eavor-Loop™ solution is now, more than ever before, poised to provide a uniquely scalable source of emissions-free, baseload and dispatchable power to the world.” - Matt Toews, CTO, Eavor Technologies Inc.

“Our collaboration with Huisman extends beyond custom rig design. Eavor will be in close collaboration with Huisman, and our other partners, for the commercialisation of Eavor-Loop™ throughout Europe and in markets globally.” - Robert Winsloe, EVP Sales & Marketing, Eavor Technologies Inc.

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