Today in Calgary, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the first investment by the Canada Growth Fund-the new flagship investment fund which is a pillar of Canada's clean economy jobs plan.
With a $90 million investment in a groundbreaking geothermal energy company, Calgary's Eavor Technologies Inc., the Canada Growth Fund is creating good jobs for Albertans and securing the Canadian future of a company at the leading-edge of the global clean economy.
Eavor has developed the Eavor-Loop™, the world's first scalable technology for closed-loop geothermal power and heat generation, which captures geothermal energy to produce steady and dependable heat and electricity without any emissions. This technology has the potential to significantly reduce emissions both in Canada and around the world.
The Canada Growth Fund's investment will enable Eavor to scale-up its emissions-reducing technology, ensure the company's headquarters and majority of its workforce remain in Canada, and create new jobs at its Calgary headquarters.
The Canada Growth Fund is a $15 billion arm's length public investment vehicle led by some of Canada's leading investment professionals, which was launched by the federal government to attract private capital and invest in Canadian businesses in order to build Canada's clean economy and create middle class jobs across the country.
