Calgary-based company ranks second in the world in new Time magazine list
A Calgary-based company is gaining some global recognition after ranking second on a list of the world’s top green technology companies.
Time magazine, partnered with data firm Statista, released its list of the World’s Top GreenTech Companies of 2026, ranking 250 top-performing companies across the world that either develop or provide green technologies, products, or services that help mitigate or reverse the environmental impacts of human activity.
“The study is based on three key pillars: positive environmental impact, innovation, and financial strength. Companies received scores in each dimension, which were then combined into an overall score.”
Calgary-based Eavor came in second place with a score of 96.37. Eavor is a geothermal technology-based energy company focused on creating a clean, reliable, and affordable energy future on a global scale.
@eavortech/Instagram
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According to Time‘s list, Eavor is developing a “closed-loop” geothermal system that circulates water through deep underground wells where it is heated and then brought back to the surface through a separate well.
Unlike traditional geothermal energy, it does not rely on naturally occurring hot water or steam reservoirs. The company tested the technology in a German town, where it showed that the system is technically viable and cost-competitive. Eavor has also raised about $365.3 million in funding.
While the U.S. dominated the list with 54 per cent of the companies headquartered there, Canada claimed the top two positions, with General Fusion, another Canadian company, ranking first overall with a score of 96.68.
Only one other Calgary-based company managed to make the cut, Carbon Upcycling, which came in 138th place with a score of 83.02.
You can find the full ranking online.