Eavor was not too long ago ranked among the many prime 10 clear expertise corporations on the Narwhal Record of 2024, a report that benchmarks Canadian scaleup corporations.
Among the many 44 corporations from Calgary featured on the checklist, Eavor stood out with its sturdy 84 % scaleup ranking, surpassing the clear expertise sector’s common of 49.2 %.
Eavor’s inclusion on the Narwhal Record underscores its dedication to innovation, as it’s among the many close to 50 % of unpolluted expertise corporations with developed patents. One notable instance is Eavor’s Rock-Pipe™ expertise, which makes use of a chemical response to seal surrounding rock permeability. This limits the necessity to assemble casing in most of the boreholes, enabling a larger cost-efficient implementation.
With whole funding of over US$364,000,000 Eavor demonstrated substantial progress, the newest funding got here from the European Funding Financial institution (EIB), which granted €45 million to financially assist Eavor’s first business challenge in Geretsried, Germany. As of October 2024, Eavor additionally raised $182 million in Sequence B funding, an fairness spherical led by OMV. This funding, which included participation from Canada Development Fund (“CGF”), Japan Power Fund, Monaco Asset Administration, and Microsoft’s Local weather Innovation Fund, helps propel Eavor’s ambitions to generate vitality autonomy on a world scale.
The Narwhal Record is an annual analysis of prime Canadian tech companies, evaluating 900 corporations with over $10 million in capital to fifteen,000 North American scaling corporations. Rankings, based mostly on components like capital acquisition, personnel progress fee, and worker dimension, supply percentiles indicating efficiency in scaling. This evaluation, performed by the Narwhal Challenge over eight years, identifies promising Canadian tech ventures with sturdy progress potential, with clear expertise companies receiving the best share of funding, roughly 35 % of the whole.
