Alphaxioms Geothermal News and Related Research Globally

Baseload Capital Secures €53M in Series B Funding: A Major Leap for Geothermal Energy In a powerful stride towards revolutionizing the global energy landscape, Baseload Capital Sweden AB has successfully closed a €53 million Series B funding round. This monumental achievement signals a significant leap in scaling up geothermal energy—one of the world’s largest untapped and sustainable energy resources. The Power Behind the Funding Leading the charge in this Series B round is ENGF, a distinguished infrastructure fund backed by Ingka Investments, the financial powerhouse of the Ingka Group, the largest IKEA retailer. The round also attracted investments from energy technology giant Baker Hughes, Nefco, Breakthrough Energy Ventures, and Gullspång Invest. This robust investment lineup underscores the growing confidence in Baseload Capital's vision to unlock the geothermal energy sector's potential on a global scale. A Vision to Transform the Energy Sector Baseload Capital is not ju

From Barrels To Steam, How Oil and Gas ⛽ Companies are Craving for More Steam In a bold move towards sustainability and diversification, several major oil and gas companies are shifting their focus towards geothermal energy. This strategic shift signifies not only a response to the growing demand for clean energy but also a recognition of the potential of geothermal resources as a reliable and renewable energy source. Let's delve into the recent developments and initiatives taken by key players in the oil and gas industry towards embracing geothermal energy: ExxonMobil's Exploration into Enhanced Geothermal Systems (EGS) ExxonMobil's Chairman and CEO, Darrel Woods, recently hinted at the company's interest in Enhanced Geothermal Systems (EGS). This technology involves drilling deep into the earth's crust to access heat reservoirs and utilizing hydraulic fracturing techniques to enhance heat extraction. By leveraging their expertise in drilling and reservoir engineer