Canadian geothermal specialist Eavor (pronounced Ever) has just been awarded a €91.6 million grant to build a next-generation geothermal project in Bavaria south of Munich near the town of Geretsried, in Germany. The grant is from the European Innovation Fund (EUIF) which in turn is powered by cash from the EU Emissions Trading System (ETS) and aims to create financial incentives for companies and public authorities to invest in next generation technologies. The keys to the Eavor technology are that it is a closed loop, behaving like a sealed radiator going 7.5 kilometers into the ground, which can be built with existing oil and gas drilling equipment, and it can offer either electricity or hot water on a 100 year…