Eavor Demobilizes Rigs from Geretsried: What It Really Means for Closed-Loop Geothermal For three years, two drilling rigs on a farm estate near Geretsried, a Bavarian town about 40 km south of Munich, stood as the symbol of the world's most ambitious closed-loop geothermal experiment. Now in October 2026, Eavor Technologies, the Calgary-based developer of the Eavor-Loop, has told the town and its heating utility that both rigs would leave the site . The company said keeping idle rigs and specialist services on site was costly, and that releasing them would help put the project in the strongest position to continue with Loop 2 once its commercial structure is reworked . On the surface, this is a logistics decision. Underneath, it is one of the clearest signals yet about where first-of-a-kind geothermal technology stands, and how hard it is to turn a technical proof into a bankable business. This article explains exactly what happened, what the move means and what it does not mean...
Exploring Geothermal Energy Potential in Ălftanes: A Step Towards Sustainable Heating Veitur, the leading provider of heating services in the capital region, is embarking on a new venture to explore geothermal energy potential in Ălftanes. With the increasing demand for hot water in ReykjavĂk and its surrounding areas due to population growth and urban development, Veitur is proactively seeking additional geothermal resources to enhance the capacity and reliability of its heating system. The decision to investigate Ălftanes stems from indications of untapped geothermal resources suitable for residential heating. Veitur aims to conduct drilling operations in nine exploration wells in the area, with each borehole reaching depths of 60 to 100 meters. These wells will be drilled over a span of one to three days each, utilizing lightweight drilling rigs to minimize disruption and ensure safety. The ongoing efforts to diversify geothermal resources align with Veitur's commitment to susta...