Geothermal companies included in funding round from Alberta, Canada
Several geothermal technology and project developers have been selected to receive funding from the clean technology investment vehicle of Alberta, Canada.
Four companies involved in geothermal technology and project development are among the list of companies that will receive funding from Emissions Reduction Alberta (ERA), the clean technology investment vehicle funded by the Government of Alberta, Canada. Aside from geothermal, the funding round spans companies in oil and gas and critical minerals.
The geothermal companies, proposed projects, and ERA funding awarded are as follows:
- Borobotics AG (ERA funding: $4.4 million) – Development of a compact and autonomous drilling robot for geothermal boreholes
- Eavor Technologies Inc (ERA funding: $8 million) – Upgrade of core technology to enable access to superhot geothermal, increase energy output, and reduce LCOE
- GA Drilling (ERA funding: $5 million) – Validation of modular downhole drilling technology to improve well construction speed, reach, and efficiency
- Rodatherm Energy Ltd. (ERA funding: 8 million) – Development of closed-loop geothermal system using novel wellbore architectures and oil & gas drilling solutions
Also notable inclusions in this funding round are drilling and oilfield service companies Weatherford, Precision Drilling Corporation, Global Dynamics Inc., and Tourmaline Oil Corp. The total funding awarded in this round amounts to $37 million.
“Alberta didn’t develop world leading drilling technology by standing still — we got here by solving hard problems better than others. These investments build on that legacy. We’re taking the same ingenuity that built this province’s energy industry and applying it to the technologies that will define the next generation of resource development globally,” commented Justin Riemer, CEO of ERA.
ERA funding recipients are required to publicly report project outcomes, including emissions reductions, job creation, environmental and economic benefits, and key lessons learned. Final outcomes reports are shared publicly to help advance technologies toward commercialization and inform future innovation efforts.
The announcement comes on the heels of the World Geothermal Congress 2026, which was held in Calgary. One of the major points of focus during the event was the potential of Canada to leverage its oil and gas experience and know-how to help build the geothermal sector, both domestically and globally. This latest funding round from ERA, as well as the recent funding for a Deep Geothermal Roadmap, are welcome signals of support from Canada’s government institutions.
Source: Emissions Reduction Alberta
