CALGARY — A geothermal energy company is the first recipient of funding from the Canada Growth Fund, the federal government's new $15-billion arm's-length public investment vehicle.
The Canada Growth Fund has committed $90 million of Series B preferred equity in the company, to help Eavor grow its business while retaining intellectual property and creating jobs in Canada. The fund is meant to help Canada’s economy transform and grow on the path to net-zero greenhouse gas emissions. Its mandate is to invest in Canadian clean technology businesses that are developing technologies at the commercialization stage.
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