Alphaxioms Geothermal News and Related Research Globally

Alberta’s $20 Million Bet on Drilling Innovation: Why Eavor is a Key Contender in the Alberta Drilling Accelerator Date: June 13, 2025 Author:  Robert Buluma Alphaxioms Energy Insights A Bold Step Forward in Drilling Technology Alberta is once again proving that it’s not just rich in natural resources it’s rich in ambition. On June 10, 2025, the Government of Alberta announced a game-changing $20 million investment into the newly launched Alberta Drilling Accelerator (ADA) program, an initiative designed to push the boundaries of drilling innovation. This funding, administered through Emissions Reduction Alberta (ERA), targets emerging technologies that promise to reduce emissions while enabling responsible energy production. With its world-class expertise in oil and gas drilling, and increasing momentum in geothermal, lithium, and critical minerals, Alberta is positioning itself to be the global nerve center of next-generation drilling. And among the hopefuls vying to leverage th...

Meta and XGS Energy Partner on 150 MW Geothermal Power Project in New Mexico A Game-Changer for AI, Clean Energy, and the Future By Robert Buluma – Alphaxioms Energy Blog In a bold move that signals the future of energy and technology convergence, XGS Energy and Meta Platforms, Inc. have announced a groundbreaking agreement to develop 150 megawatts (MW) of next-generation geothermal energy in New Mexico. This partnership not only promises to reshape the state's energy landscape but also underscores the growing demand for sustainable, round-the-clock power to fuel the age of artificial intelligence (AI) and data-driven economies. Clean Power Without Water – XGS’s Unique Edge At the heart of this partnership lies XGS Energy’s proprietary solid-state geothermal technology. Unlike traditional geothermal systems that rely heavily on water and specific geological conditions, XGS’s innovation enables electricity production from hot, dry rock  with zero operating water use. This water-inde...

Fervo Energy Pushes Boundaries with 15,000-FT, 500°F Geothermal Well — Ushering in a New Era for Enhanced Geothermal Systems June 10, 2025 – By Robert Buluma In a stunning feat of engineering and innovation, Fervo Energy has announced the successful drilling and logging of its Sugarloaf appraisal well, marking a monumental leap in the advancement of Enhanced Geothermal Systems (EGS). Clocking in at an impressive 15,765 feet of true vertical depth and aiming for a bottomhole temperature of 520°F , this well not only sets new records but also firmly positions geothermal energy as a major player in the clean energy race. Breaking Records, Redefining Possibilities What makes this well particularly revolutionary is Fervo’s drastic 79% reduction in drilling time — completing the ultradeep well in just 16 days compared to the U.S. Department of Energy’s baseline expectations. Along the way, the company shattered several drilling records, including: Bit run length: 3,290 feet Average rate...

  Robert Buluma Bill Gates recently visited Beaver County, Utah, to tour Fervo Energy’s Cape Station, which is poised to become the world’s largest enhanced geothermal power plant. In a LinkedIn post, Gates highlighted the project's innovative use of horizontal drilling techniques adapted from the oil and gas industry to access geothermal heat more efficiently. This approach allows for the utilization of geothermal resources in areas previously considered unsuitable for traditional geothermal methods . The Cape Station project is expected to deliver up to 400 MW of power, with initial production of 70 megawatts slated for 2026 and full capacity expected by 2028. The project has secured power purchase agreements to supply electricity to approximately 350,000 homes in Southern California . Gates emphasized that geothermal energy is a promising solution for delivering reliable, low-carbon power, especially as demand for affordable energy grows. He also noted that Fervo Energy's...

June 7, 2025 Author: Robert Buluma Canada’s Clean Tech Momentum Gets a Boost with Another Major Investment into Eavor’s Geothermal Breakthrough In a bold step toward securing a greener future, the Canada Growth Fund (CGF) has announced an additional investment of up to C$138 million in Eavor Technologies Inc. , a Calgary-based pioneer in closed-loop geothermal systems. This injection of capital will accelerate the global commercialization of Eavor-Loop™ , the company’s groundbreaking technology that promises to reshape the way we harness energy from the Earth. This is not CGF’s first vote of confidence in Eavor. In October 2023, CGF committed C$90 million to the company, recognizing its immense potential to scale dispatchable, reliable geothermal energy. Now, with construction of Eavor’s first commercial-scale facility in Geretsried, Germany well underway and key technological milestones achieved, CGF is doubling down—with a two-phase investment: C$89 million upfront , and C$4...

Presidio, Texas – A quiet border town has just made a thunderous statement on the global stage of renewable energy. On May 22, the Presidio Municipal Development District (PMDD) and Exceed Geo Energy signed a groundbreaking  By:  Robert Buluma 110-megawatt geothermal power purchase agreement term sheet —a monumental move set to redefine the economic destiny of Presidio County. The deal was inked during the inaugural “Presidio Vision 2035” student competition, and it is already being hailed as the most consequential economic development initiative in the region’s modern history. With electricity output far exceeding current local demand, the project is poised to energize not just homes—but industries, data centers, manufacturing hubs, and high-value agricultural processing plants. “We’re not just powering lights—we’re powering futures,” said John T. Kennedy , PMDD Executive Director. “This geothermal commitment lays the foundation for transformative growth that will chan...