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"Ethiopia geothermal restart: Tulu Moye and Corbetti renegotiate multimillion-dollar deals"

By Robert Buluma Alphaxioms
Ethiopia Renegotiates Key Deals to Restart Multimillion‑Dollar Geothermal Projects: Tulu Moye and Corbetti Move Toward Restart After years of security disruptions, financing shortfalls and contract disputes, two of Ethiopia’s highest‑profile geothermal concessions , the Tulu Moye (Meridiam/Reykjavik Geothermal) and Corbetti projects , are actively renegotiating with senior government authorities to resume development. The talks mark a practical pivot from litigation and prolonged suspension toward restarting drilling and project implementation, with implications for Ethiopia’s energy mix, investor confidence and the regional geothermal supply chain. Why these renegotiations matter For an emerging geothermal market like Ethiopia, the fate of Tulu Moye and Corbetti matters on three fronts: capacity and grid impact, investor signaling, and the country’s ability to mobilize large, foreign‑led project finance. Each project alone represents several hundred megawatts of potential dispatchable...
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Vulcan Energie Ressource GmbH Wins Ruggero Bertani European Geothermal Innovation 2024

By Robert Buluma Alphaxioms
 Revolutionizing Lithium Production: Vulcan Energie Ressource GmbH Wins the Ruggero Bertani European Geothermal Innovation Award 2024 By  Robert Buluma Offenburg, March 1, 2024 – The European Geothermal Energy Council (EGEC) proudly announces Vulcan Energie Ressourcen GmbH as the recipient of the esteemed Ruggero Bertani European Geothermal Innovation Award 2024. This accolade celebrates Vulcan Energie Ressourcen GmbH's groundbreaking project, the Lithium Extraction Optimization Plant (LEOP), a revolutionary endeavor set to transform sustainable lithium production in Europe. Introducing LEOP: A Game-Changer in Lithium Extraction LEOP represents a pioneering initiative, heralding the inaugural production unit to extract lithium from geothermal sources in an eco-friendly manner. Operational since 2023, this innovative plant, situated in Europe, achieves an impressive Technology Readiness Level (TRL) of 7/8. With an annual output of 40 tons of green lithium hydroxide, LEOP has th...
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Geothermal Collegiate Competition under US DOE Announces Winners

By Robert Buluma Alphaxioms
 Exploring the Future of Geothermal Energy: The Geothermal Collegiate Competition The Geothermal Collegiate Competition (GCC), an initiative by the U.S. Department of Energy's Geothermal Technologies Office (GTO), has been paving the way for innovative geothermal solutions while fostering the talents of students from collegiate institutions across the nation. This annual competition not only offers cash prizes but also provides invaluable industry experience, networking opportunities, and a chance to contribute to the clean energy transition. Empowering Students for a Sustainable Future The GCC serves as a platform for students from diverse academic backgrounds to engage with real-world challenges in the renewable energy sector. Whether majoring in engineering, economics, environmental science, or any other field, students are encouraged to participate and apply their skills to develop geothermal solutions. This hands-on experience not only enriches their academic journey but also ...
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US DOE Articulates $31M in EGS and Low Temperature Geothermal Projects

By Robert Buluma Alphaxioms
"Empowering Geothermal Innovation: $31M Funding Opportunity to Drive Sustainable Energy Solutions" The U.S. Department of Energy's Geothermal Technologies Office (GTO) has opened a remarkable funding opportunity, offering up to $31 million to support groundbreaking projects in the field of geothermal energy. This initiative, announced on January 30, 2024, aligns with the Biden-Harris Administration's commitment to achieving carbon pollution-free electricity by 2035 and a net-zero-emissions economy by 2050. Unleashing Potential with Two Dynamic Topic Areas Topic Area 1: Revolutionizing Downhole Tools The first topic area, with a generous funding of up to $23.1 million, targets projects that address downhole cement and casing evaluation tools. These tools play a pivotal role in high-temperature and hostile geothermal wellbores, essential for enhanced geothermal systems (EGS). Current off-the-shelf solutions cater to the oil and gas industry's upper temperature needs...
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EGEC to announce Ruggero Bertani EGIA award winner at GeoTHERM expo and Congres

By Robert Buluma Alphaxioms
  Announcing the Top 5 Most Innovative Geothermal Projects in 2024 The anticipation is building as the European Geothermal Energy Council (EGEC) reveals the finalists for the prestigious Ruggero Bertani European Geothermal Innovation Award 2024. These groundbreaking projects showcase the forefront of geothermal technology and will be vying for recognition at the GeoTHERM expo & congress, set to unfold between February 29 and March 1, 2024, in Offenburg, Germany. 1. Canopus Drilling Solutions Geothermal BV (Netherlands) Project: Field pilot of the Directional Steel Shot Drilling technology at VersuchsStollen Hagerbach, CH. Canopus Drilling Solutions introduces the Directional Steel Shot Drilling (DSSD) technology, proving its ability to drill three times faster than traditional methods. A successful field pilot at VersuchsStollen Hagerbach demonstrated the prowess of DSSD by steering through various rock types and depths, marking a significant leap in drilling efficiency. 2. Deu...
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Eavor Tops Geothermal start-up list

By Robert Buluma Alphaxioms
 Eavor Emerges as Global Geothermal Powerhouse In a groundbreaking announcement, energystartups.org has crowned Eavor as the leading geothermal energy startup globally, marking an extraordinary achievement fueled by an impressive $365.3 million in cumulative funding. Eavor's ascent to the summit is attributed to substantial investments from influential entities such as Vickers Venture Partners, bp Ventures, Chubu Electric Power, BDC Capital, Chevron Technology Ventures, BHP Ventures, Helmerich & Payne, Precision Drilling, OMV, the Canada Growth Fund (CGF), and Microsoft. The year 2023 witnessed a surge in support, culminating in the successful launch of Eavor's maiden commercial project in Geretsried, Germany. Notably, a pivotal moment arrived in March when the European Innovation Fund (EIF) granted a substantial €91.6 million, solidifying Eavor's position in the clean energy landscape. Eavor-Europe™ achieved a momentous milestone with a €34 million investment from OMV,...
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Sage Geosystems’ Project Vector: EGS at Ormat Blue Mountain Plant

By Robert Buluma Alphaxioms
Sage Geosystems Selects Ormat’s Blue Mountain Plant for Project Vector: a Major Step Toward Commercial EGS Sage Geosystems will deploy its proprietary EGS technology at Ormat’s Blue Mountain power plant in Nevada for Project Vector, targeting first electricity in 2027 and full-scale production in 2028. The two-well project aims to deliver firm, 24/7 geothermal power with lower water losses and higher net output,advancing commercial EGS, validating GeoTwin predictive modeling, and strengthening strategic ties with Ormat amid growing corporate demand for reliable baseload clean energy. Why this matters Sage Geosystems’ selection of Ormat Technologies’ Blue Mountain geothermal plant for Project Vector represents a pivotal demonstration of commercial-scale enhanced geothermal systems (EGS) integrated into existing power infrastructure. The decision leverages an established plant to reduce non-core capital, accelerate timeline risk reduction, and prioritize validation of subsurface engineer...
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Vulcan Energy Starts Lionheart 30MW Geothermal & 24,000tpa Lithium Plant , Landau

By Robert Buluma Alphaxioms
Vulcan Energy Kicks Off Civil Works at Lionheart: Europe’s Flagship Geothermal + Lithium Plant Starts Rising in Landau Image: The vulcan Lionheart project in Landau, Upper Rhine Graben  Vulcan Energy Resources has started civil construction on its 30 MW Lionheart Geothermal Power Plant in Landau, Germany a milestone that turns engineering blueprints into concrete reality for one of Europe’s most ambitious integrated geothermal and direct lithium extraction (DLE) projects. The first concrete layers are down, foundations are being formed, and supporting infrastructure works are under way. For stakeholders across the clean‑energy and critical minerals value chains, Lionheart represents far more than a single power station: it’s a demonstration of industrial symbiosis, price resilience, and a pathway to decarbonized battery supply chains in Europe. Why Landau matters: location, geology, and industrial context Landau sits in the Upper Rhine Graben, a tectonic trough with a favorable geo...
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TEVERRA Joins Alaska DOE Geothermal Initiative to Reduce Risk

By Robert Buluma Alphaxioms
TEVERRA Joins $5 Million DOE Geothermal Initiative in Alaska Alaska is entering an important new phase in its geothermal energy development, with TEVERRA joining a $5 million U.S. Department of Energy-supported initiative focused on accelerating geothermal development across the state. The project brings together researchers, government geoscientists and private-sector subsurface specialists from the  University of Alaska Fairbanks (UAF), University of Alaska Anchorage (UAA), Alaska Division of Geological & Geophysical Surveys (DGGS), TEVERRA and Logic Geophysics. At the center of the initiative is a challenge that has constrained geothermal development in many parts of the world: the subsurface is difficult to understand before expensive drilling begins. For Alaska, where geothermal resources are distributed across a vast and geologically complex landscape, improving the quality of geological, geophysical and geomechanical information could become an important step toward...
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The "Heat-as-a-Service" (HaaS) Business Model: Geothermal Without the CAPEX Nightmare

By Robert Buluma Alphaxioms
Heat-as-a-Service takes geothermal from a capital-intensive power project to a financeable, contract-based heat utility: instead of selling electrons, you sell stable, decarbonized heat under long-term contracts that match what industrial customers and investors actually want. Image: A thematic picture of a geothermal power plant By shifting risk and ownership away from end users and toward specialised developers and infrastructure capital, it can unlock geothermal in markets where electricity tariffs are low but demand for reliable, low-carbon process heat is strong. From kWh to “heat-as-a-service” Traditional geothermal projects earn revenue by selling electricity into a grid, often at wholesale prices that barely cover high up-front drilling and plant costs unless there is a feed-in tariff or premium.Many industrial users, however, do not need electricity; they need heat for processes like brewing, greenhouse climate control or pulp and paper production, and they currently buy that ...
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Fervo and Google Sign Record 396 MW Geothermal Deal for Utah Data Center Power.

By Robert Buluma Alphaxioms
Fervo and Google sign world’s largest deal for next-gen geothermal power Fervo Energy’s latest agreement with Google is a major milestone for next-generation geothermal and a clear sign that big tech is getting more serious about 24/7 clean power. The deal covers 396 MW from Fervo’s Cape Station project in Utah, with the option for Google to expand its commitment later, potentially pushing the relationship much closer to gigawatt scale.   For the geothermal sector, the significance goes beyond one contract. It is a public validation that enhanced geothermal systems can attract a blue-chip corporate buyer at a size usually associated with utility-scale solar, wind, gas, or nuclear procurement. For Google, it strengthens a strategy centered on securing always-available, carbon-free electricity for future data center growth.   Fervo’s announcement also lands at a moment when electricity demand is rising fast, especially from artificial intelligence infrastructure. Tha...
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Geothermal Well Cost 2026: Country Benchmarks, Drilling Costs per Meter, Depth & Reservoir Risk, and Investment Insights

By Robert Buluma Alphaxioms
Geothermal Well Cost by Country (2026): Drivers, Benchmarks, and Investment Implications image: a thematic image of a geothermal field Geothermal drilling remains one of the most capital‑intensive steps in developing clean, dispatchable energy. In 2026 the headline fact is familiar: drilling costs vary sharply between countries and projects. But the deeper story is about why those costs vary, which factors are controllable, and how investors, developers, and policymakers should interpret country‑level benchmarks. This article explains the technical and commercial drivers behind geothermal well expense, surveys the cost landscape across major geothermal markets in 2026, illustrates the dynamics with project examples and recent performance data, and offers practical recommendations for modeling, financing, and policy design. Why geothermal wells are expensive Drilling a geothermal well is not simply “digging a hole.” It is a technically complex, multi‑phase process that combines explorat...
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Geothermal Rare Earth Elements from Brines: Unlocking Critical Minerals, Lithium, and Strategic Metals from Clean Geothermal Energy

By Robert Buluma Alphaxioms
Geothermal brines can become a meaningful source of rare earth elements (REEs) and other critical minerals, but the industry is still in an early, pre‐commercial phase where technology, economics, and policy need to align.  Why Geothermal Brines Matter for Critical Minerals Geothermal systems circulate hot, mineral-rich fluids through crustal rocks, dissolving metals and concentrating them in brines that already flow through wells for power and heat. Unlike conventional mining, which moves huge volumes of rock, geothermal operations tap fluids that are already being pumped, monitored, and handled for energy production.  Several factors make geothermal brines attractive for critical minerals: - They contain lithium, REEs, and other valuable metals at trace to moderate concentrations. - Infrastructure (wells, pipelines, power plants) already exists at many sites. - Co-production of minerals with baseload renewable energy lowers the carbon footprint of supply chains.  For co...
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Mazama Energy Raises $135M for Superhot Geothermal Power

By Robert Buluma Alphaxioms
Mazama Energy Raises $135M to Drill Superhot Geothermal Wells for AI Power Mazama Energy’s new $135 million Series B is a major signal that superhot geothermal is moving from frontier science toward real commercial deployment. The company says the capital will help it drill deeper, develop horizontal wells in superhot rock, and move closer to generating electricity next year from its Oregon project.   Mazama Energy’s $135 Million Funding Round Mazama Energy announced an oversubscribed Series B totaling $135 million, with backing from major climate and energy investors. The round was led by Centaurus Capital and Doerr Capital, and it also drew participation from ConocoPhillips, Shell Ventures, Khosla Ventures, Gates Frontier, SiteGround Capital, H. Barton Asset Management, and the Jeffrey and Marieke Rothschild Foundation.   That investor mix matters because it shows geothermal is attracting both traditional energy capital and venture investors. The company was incuba...
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Best US States for Geothermal Investment in 2026: Top Markets, Growth Opportunities, and Investor Insights

By Robert Buluma Alphaxioms
Best US States for Geothermal Investment The best US states for geothermal investment are California, Nevada, Utah, New Mexico, and Texas, with Oregon, Idaho, Alaska, and Arizona also offering attractive upside depending on whether you want operating assets, early-stage development, or next-generation geothermal exposure. Geothermal is becoming a broader investment story than it was a few years ago. Stronger drilling methods, rising demand for firm clean power, and more state-level policy support are widening the field beyond the traditional western hot spots. Introduction For investors , geothermal is one of the few clean energy technologies that can deliver round-the-clock power with a relatively small land footprint. That reliability is a big advantage in a market where utilities, data centers, and industrial customers increasingly want clean electricity that behaves more like conventional baseload generation. The challenge is that geothermal is highly location-dependent. The qualit...
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Global Geothermal Power Market Review 2026.

By Robert Buluma Alphaxioms
Global Geothermal Power: Policies, Funding, Wells, Strengths, Opportunities and Barriers Geothermal is moving into a broader investment cycle. In 2026, the story is no longer limited to volcanic power plants in a few classic markets; it now includes enhanced geothermal systems, closed-loop designs, district heating, superhot rock, lithium from brines and industrial heat. Across the United States, Canada, Germany, the United Kingdom, Australia, New Zealand, Japan, Iceland, France and Italy, the sector is being shaped by a simple question: who is de-risking the first wells, and who is ready to finance the next ones?  United States: the next-generation testbed The United States has the broadest geothermal innovation ecosystem in this group, with a mature conventional base in the West and a fast-growing next-generation pipeline. The main policy signal in 2026 is the Department of Energy’s US$171.5 million funding opportunity for next-generation geothermal field-scale tests, exploration...
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