In his speech during the inauguration of Eavor’s first commercial project at Geretsried, Federal Chancellor Olaf Scholz praised Eavor’s technology, and platformed it as an asset that will help Germany to achieve its goal of becoming one of the first climate-neutral industrialized countries in the world by 2045.

“It is a technical masterpiece that you have undertaken here in Geretsried with this project,” said Scholz.

“If this attempt succeeds, it would not only be a great piece of engineering, but an even greater step forward for our heat transition.”

Moreover, the Chancellor attributed this as a benefit because it means having geothermal energy independent of heated water, which is a resource that is challenging to find and access.

“That would mean: more clean heat supply, and that brings us closer to our climate goals. It is clear that business as usual is not enough for this. Sometimes you have to have the courage to do something and give new, highly innovative technologies a chance, and that’s exactly what you’re doing. Success from the bottom of my heart!”

Scholz highlighted the researchers affiliated with Geothermal Alliance Bavaria, who have recently demonstrated the potential for geothermal energy to significantly contribute to Germany’s heat supply. In a related development, experts from the German Research Centre for Geosciences in Potsdam have unveiled a strategic plan outlining the advancement of deep geothermal energy across the country.

Scholz said that this emerging research, coupled with geothermal advancements like Eavor’s, holds promising implications for Germany’s economic landscape and its attractiveness to investors, as several of them are presently strategizing investments in cleantech.

The Chancellor also expressed that the main concern these investors have pertains to the prospective availability of affordable renewable energy within the local landscape. The profound innovation encapsulated by geothermal endeavors sparks a sense of enthusiasm. The capacity to provide warmth to households through subterranean resources not only reduces dependence on energy imports, but it also reduces negative environmental impact.

According to Scholz, an estimated 80 billion euros in investments have materialized in a matter of months, fostering the creation of tens of thousands of employment opportunities. This ripple effect could then extend to German suppliers and local businesses.

At the end of his speech, Scholz encouraged the idea for more projects like Eavor’s to be allowed the chance to succeed, as many renewable projects contribute to the overall success of implementing a clean energy grid.

“So, I wish you, and all of us, that Germany will be the first country in Europe where the Eavor-Loop™ works on a significant scale. All the best for this project!”