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MB Centuary sells a drilling rig

By Robert Buluma Alphaxioms
MB Century sells Rig 32 to Webster Energy Services: what the move means for New Zealand geothermal drilling MB Century and Webster Energy Services have agreed the sale of MB Century’s Drillmec HH350 drilling rig, Rig 32, with completion slated for December 2026 after the rig finishes its current campaign for Tūaropaki Power Company. The transaction signals a strategic shift for MB Century,moving away from direct drilling ownership toward concentrating on engineering, reservoir and technical services,while Webster Energy uses the acquisition to deepen its footprint in the New Zealand geothermal market. This article summarises the deal, then drills into the operational, market and workforce implications for New Zealand’s geothermal sector, the strategic logic for both companies, and what the transaction suggests about capacity, competition and future drilling trends. Deal overview and timeline Parties: MB Century (seller) and Webster Energy Services (buyer). - Asset: Drillmec HH350 rig k...
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Exploring Bosnia and Herzegovina’s Geothermal Future: UNDP Calls for Experts to Lead Groundbreaking Study

By Robert Buluma Alphaxioms
Unlocking Bosnia and Herzegovina’s Geothermal Potential: A Golden Opportunity for Experts   By: Robert Buluma The global push for sustainable energy has ignited interest in geothermal resources, and Bosnia and Herzegovina (BiH) is the latest country stepping up to explore its underground energy reserves. The United Nations Development Programme (UNDP) has announced a Request for Proposal (RFP) for the Development of a Study on the Geothermal Potential of the Federation of Bosnia and Herzegovina (FBiH). This presents a lucrative opportunity for geothermal experts, energy consultants, and research institutions to shape the future of renewable energy in the region.   This is not the 80's when Geothermal Energy was being taxed as if it did not mean something, things have changed and it is getting similar incentives as other Renewables. What’s the Deal?   Published on January 29, 2025, this tender (Reference Number: UNDP-BIH-01166) seeks to assess, analyze, and ...
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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 subsurf...
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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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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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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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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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