Press Information
In his speech at the inauguration of Eavor’s first commercial project in Geretsried, German Chancellor Olaf Scholz praised Eavor’s technology, calling it an important contribution to achieving Germany’s goal of becoming one of the first climate-neutral industrialized countries in the world by 2045.
“The project you have undertaken here in Geretsried is a technical masterpiece,” said Scholz.
“If this experiment is successful, it will not only be a great feat of engineering, but an even greater step forward for our heating transition.”
In addition, the chancellor emphasized that Eavor’s technology makes it possible to generate geothermal energy independently of thermal water resources.
“That would mean: More clean heat supply, and that brings us closer to our climate targets. To achieve this, business as usual is clearly not enough. To do that, you have to have the courage to try something new and give new, highly innovative technologies a chance, and that’s exactly what you’re doing. I wish you every success in this endeavor!“
In his speech, Scholz referred to the researchers of the Geothermal-Alliance Bavaria, who have shown that geothermal energy could cover a large part of the heating supply in Germany. In this context, experts from the German Research Centre for Geosciences in Potsdam (GFZ) have presented a road-map strategy plan for the promotion of deep geothermal energy throughout Germany.
Scholz said that this research, coupled with advances in geothermal energy like Eavor’s, has promising implications for Germany as a business location and its appeal for investors, as several of them are currently planning investments in environmentally friendly technologies.
The chancellor also mentioned that the biggest concern for these investors is the anticipated availability of affordable renewable energy locally. Against this background, the far-reaching innovation that lies in geothermal energy is being met with a sense of excitement. The possibility of supplying households with heat from underground resources not only reduces dependence on energy imports, but also the negative impact on the environment.
According to Scholz, investments estimated at €80 billion were made within a few months, leading to the creation of tens of thousands of jobs. This development could have a positive impact on German suppliers and local companies.
At the end of his speech, Scholz spoke out in favor of giving more projects like Eavor’s a chance, as many renewable energy projects contribute to the overall success of the transition to a decarbonized energy grid.
“That is why my hope for you and for all of us is that Germany will be the first country in Europe where the Eavor-Loop is implemented on a significant scale,. All the best for this endeavor!”
