Netherlands-based Huisman Equipment BV, an engineering and drilling technology specialist, and energy company Eavor Technologies Inc, with headquarters in Calgary, have announced an agreement to design and build a new generation of automated drilling equipment.
To meet the two companies’ aim of harnessing geothermal energy using Eavor-LoopTM technology more efficiently, Huisman will develop automated drilling factories designed for the effective manufacture of Eavor-Loops.
Eavor-Loop technology enables thermal energy from deep underground to be harnessed in a closed-loop system. This is likely to become competitive with mainstream renewable energy sources, the companies said. Unlike other forms of traditional energy, this closed-loop power supply is not intermittent and does not depend on large subsurface reservoirs.
The closed-loop system means that there is no fracking, no greenhouse gas emissions, no earthquake risk, no water use, no production of brine or solids, and no risk of aquifer contamination.
Commenting on the new collaboration, Eavor Technologies’ president and CEO, said: “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 USD 50/MWh or less for clean, dispatchable power, and contributes to our ambition to enhance capital efficiency.”
Matt Toews, the company’s CTO, added: “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 rigs incorporating the latest in machine learning. We are thrilled to continue this relationship and believe the Eavor-Loop solution is now poised to provide a uniquely scalable source of emissions-free, baseload and dispatchable power to the world.”