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Welcome to this week's Sunday Briefing. In this edition:
Eavor CEO steps down ahead
Attabotics files for bankruptcy protection
Rogers rolls out WiFi 7, starting in Calgary
Have a great day. We'll see you again next week.
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🗳️ Question of the Week
What part of Eavor’s recent progress are you most interested in following?
Eavor CEO John Redfern. Photo: Eavor Technologies
Eavor CEO John Redfern steps down, leadership transition underway
Calgary-based Eavor Technologies Inc. has announced a leadership change as co-founder and CEO John Redfern steps down for personal reasons. Redfern, who has led the next-generation geothermal company for eight years, will remain involved in a strategic advisory role. Under his leadership, Eavor raised over half a billion dollars in equity, advanced its proprietary closed-loop geothermal technology, and guided the company to the brink of its first commercial deployment in Geretsried, Germany, scheduled to go online later this year.
Robert Winsloe, Executive Vice President of Origination and a fellow co-founder, will take on the role of interim CEO while the company searches for a permanent successor. Winsloe has played a key role in developing Eavor’s market strategy and international project pipeline. Board Chair Doug Beach acknowledged Redfern’s impact and expressed confidence in Winsloe’s ability to steer the company through the transition. “John’s vision has been instrumental in driving our success,” said Beach, adding that Redfern’s continued advisory support is welcomed.
The transition comes at a pivotal moment for Eavor, which in June secured up to C$138 million in new funding to expand its Eavor-Loop technology globally. The Geretsried project, its first commercial installation, is expected to produce 8.2 MW of electricity and 64 MW of thermal energy, potentially offsetting more than 44,000 tonnes of CO₂ annually. Recognized with the 2024 IJGlobal “Geothermal Deal of the Year” award, the project has also received €91.6 million from the EU Innovation Fund.
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📰 Need To Know
Warehouse robotics firm Attabotics files for bankruptcy protection. Calgary-based warehouse robotics company Attabotics is filing for bankruptcy protection after depleting nearly $200 million in funding and laying off much of its workforce, according to multiple reports on LinkedIn. Calgary.Tech
Rogers launches WiFi 7. First Canadian internet provider to introduce latest generation of WiFi, starting in Calgary. Rogers Communications
Calgary cleantech Northstar hustles for financial support amid push into US market. Northstar Clean Technologies recently announced that the Calgary-based company has received a non-binding Letter of Interest from Export Development Canada. Calgary.Tech
Oncolytics Biotech appoints former Ambrx executive as chief business officer to drive business development strategy. Among his key priorities will be optimizing the value of the Company's expansive suite of promising clinical data for pelareorep in multiple tumor types, including pancreatic, breast, and anal cancers. Oncolytics Biotech
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