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Serbia Advances Mišeluk Geothermal District Heating Project in Novi Sad

Serbia Advances Geothermal Drilling for the Mišeluk District Heating Plant in Novi Sad Serbia is moving forward with plans to develop a geothermal district heating system in Mišeluk, a rapidly urbanizing area of Novi Sad. The project is intended to place geothermal energy at the centre of a new low-carbon heating network, supported by solar power and natural gas backup. Exploratory drilling and construction of the heat distribution network are being carried out by JKP Novosadska toplana, Novi Sad’s public district heating utility. The initiative is supported through the United Nations Development Programme’s “Geothermal Energy in Serbia” programme, with financial backing from Slovakia.  The Mišeluk project is important not only because it could provide a new renewable heat source for Novi Sad, but also because it demonstrates how geothermal energy can be integrated into urban development from the earliest planning stages. Rather than retrofitting a geothermal system into an establi...

Quaise Energy Breaks Ground in Geothermal Innovation with Millimeter-Wave Drilling

A groundbreaking milestone has just been achieved in the geothermal world.  Quaise Energy a bold energy tech startup, is turning heads by drilling through granite—not with traditional bits, but with powerful millimeter-wave energy.  By :  Robert Buluma This disruptive technology could unlock near-unlimited geothermal power deep beneath the Earth’s surface. 💡 The Power Beneath Our Feet Beneath the Earth's crust lies a massive source of heat—superhot rock that, if harnessed, could power the planet many times over. The challenge? It's buried miles deep in unforgiving conditions where traditional drill bits melt, wear down, or fail completely. Enter  Quaise Energy revolutionary solution: vaporizing rock with directed energy. ⚙️ How It Works Instead of grinding rock with steel,  Quaise uses millimeter-wave energy—essentially high-powered microwaves. These waves are delivered through a special pipe to the rock face, where they instantly melt or vaporize hard mater...

Unlocking Earth’s Hidden Power: The Future of Energy Lies Beneath the Great Basin

Imagine a world powered not by burning fossil fuels or waiting on the whims of wind and sunlight but by the Earth itself. That world may be closer than we think. By: Robert Buluma Image:  Estimated power density map showing how a best Estimated 135 GW electric are distributed across the Great Basin In a groundbreaking 2025 report, the U.S. Geological Survey (USGS) unveiled a bold new vision for America’s energy future, spotlighting an untapped giant: Enhanced Geothermal Systems (EGS). Beneath the rugged terrain of the Great Basin a vast swath of the Southwestern United States lies a potentially explosive source of clean, renewable electricity. The numbers are nothing short of astonishing. 135 Gigawatts Electric And That’s Just the Beginning Image:  Heat flow maps, shaded relief from the national atlas of the United States, temp at 6KM According to the USGS, the upper 6 kilometers of Earth’s crust in the Great Basin alone could harbor 135 gigawatts electric (GWe) of geothermal...

Eavor Technologies: Revolutionizing the Energy Landscape with Groundbreaking Geothermal Innovation

In a world increasingly focused on sustainable energy solutions,  Eavor Technologies has emerged as a trailblazer, redefining the geothermal energy sector with its revolutionary technology.  By:  Robert Buluma The Calgary-based company has developed a unique closed-loop geothermal system, aptly named the Eavor-Loop™, which promises to deliver clean, reliable, and scalable energy without the limitations of traditional geothermal methods. This innovation is not just a scientific breakthrough; it’s a financial and environmental game-changer that has captured the attention of investors, governments, and energy experts worldwide.   The Eavor-Loop™: A Geothermal Marvel   Traditional geothermal energy relies on finding naturally occurring reservoirs of hot water or steam underground, which limits its applicability to specific geographic regions. Eavor’s technology, however, eliminates this constraint by creating an artificial geothermal reservoir. The Eavor-...

The $500 Billion Energy Revolution: How Geothermal is About to Change Everything

A Silent Energy Revolution is Underway Robert Buluma Image: Fumaroles emanating from the ground, a geothermal manifestation, credit: unsplash The global energy landscape is shifting. While solar and wind have dominated discussions on renewable energy, a new powerhouse is emerging  geothermal energy . Backed by investments from tech giants, oil majors, and governments, geothermal is quietly positioning itself as the next trillion-dollar industry. With the potential to replace fossil fuels, reshape economies, and revolutionize energy grids , geothermal is no longer a niche sector it’s the future of energy . In this article, we’ll explore why geothermal energy is set to explode, the key players driving this shift, and how it could disrupt traditional energy markets . The Key Players Betting on Geothermal Geothermal energy is no longer just the domain of specialized companies. Big Tech, oil giants, and governments are now pouring billions into the sector, recognizing its potential...

Powering the Future: Elemental Energies and Iceland Drilling Forge Global Geothermal Partnership

Elemental Energies and Iceland Drilling Join Forces to Revolutionize Global Geothermal Projects By: Robert Buluma The geothermal energy sector is experiencing a seismic shift, and two industry leaders, Elemental Energies and Iceland Drilling Company, are taking it to the next level. In a groundbreaking move, the two companies have launched a global joint venture that promises to deliver comprehensive geothermal solutions for projects worldwide. The new partnership combines Elemental Energies’ expertise in subsurface and well engineering with Iceland Drilling’s cutting-edge geothermal drilling services, creating a powerful alliance designed to meet the growing demand for clean, renewable energy. Most People feel Geothermal is not taking a center stage but we feel otherwise given the current unfoldings A Bold Step Toward Sustainable Energy Solutions With over 70 years of experience and hundreds of geothermal wells constructed globally, Iceland Drilling stands at the forefront of geotherm...

GA Drilling and NREL Forge a New Path for Ultra-Deep Geothermal Energy

Breaking New Ground: GA Drilling and NREL Join Forces to Revolutionize Geothermal Energy By: Robert Buluma Geothermal energy has long been the unsung hero of the renewable energy sector. With the potential to provide consistent, baseload power, it remains an underutilized resource due to the challenges of deep drilling. Now, GA Drilling, a pioneering geothermal technology company, has partnered with the U.S. National Renewable Energy Laboratory (NREL) to take a massive leap forward in unlocking geothermal’s full potential. We did an indepth article earlier on Status of Geothermal in USA for our readers to get first hand information on how the geothermal sector looks like A Partnership for the Future GA Drilling and NREL are collaborating to bring a game-changing innovation to the field—an advanced high-temperature downhole generator designed to enhance geothermal drilling applications. This cutting-edge technology will be integrated into GA Drilling’s PLASMABIT® Hybrid drilling solutio...

400C Energy's Bold Leap: Pioneering a 275°C, 100 MWe Enhanced Geothermal Revolution in Utah

400C Energy Pioneers Next-Gen Geothermal Power with Groundbreaking Utah Project By: Robert Buluma In a monumental move for renewable energy development, 400C Energy has acquired 1,960 acres of exploration rights in Utah to develop a cutting-edge Enhanced Geothermal System (EGS) capable of generating 100 MWe of clean, carbon-free electricity. Leveraging proprietary technology, the project promises to revolutionize geothermal energy production by tapping into 275°C resources near the Department of Energy's FORGE site and Fervo Energy’s Frisco Pad.  This article encompounds much on the magical Fervo geothermal project Innovation at the Core The key to this breakthrough lies in 400C Energy’s proprietary hydraulic stimulation technology. This advanced system dramatically increases downhole surface area, enhances power plant longevity, and ensures sustainable energy production by incorporating flow control mechanisms to optimize brine movement within the wells. With over 300 stimulation ...

Pioneering Canada's Energy Future: DEEP Partners with SLB for Next-Generation Geothermal Innovation

Deep Earth Energy  Energy Partners with SLB : Ushering in a New Era of Geothermal Innovation in Canada   By: Robert Buluma In an ambitious leap towards redefining Canada's energy landscape, DEEP Earth Energy Production Corp.  Deep has joined forces with global energy technology leader  SLB (NYSE: SLB). This groundbreaking partnership aims to drive the development of Canada's first next-generation geothermal project in southeastern Saskatchewan. The project promises up to 30 MW of emissions-free baseload power once the initial two phases are complete — a significant milestone for Canada's renewable energy future.   In addition to this partnerships ,SLB has been on the forefront in geothermal capacity building even marging with Universitys Overcoming Geothermal Barriers with Innovation   Canada boasts enormous geothermal potential, but the sector has largely remained untapped due to economic and technical challenges. Conventional extraction m...

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Eavor Kleefeld II Permit Boosts Hannover Geothermal Expansion and Deep Heat Development

Eavor Secures Kleefeld II: A New Milestone for Hannover’s Deep Geothermal Ambitions Image: A Thematic image of The Eavor Project at Geretsried  Eavor’s new Kleefeld II permit marks an important step forward for deep geothermal development in Hannover, reinforcing the city’s position as one of Germany’s most closely watched urban heat-transition markets . The licence covers about 64.5 square kilometers, lasts for three years, and combines the former Buchholz and Kleefeld I exploration areas into a single, larger field that Eavor already controlled. The decision is more than an administrative update. It signals continued confidence in geothermal as a practical, scalable source of district heating in a dense metropolitan region. For Hannover, it also strengthens a project that has been building momentum for several years and could become a reference case for other European cities seeking cleaner, locally produced heat. A New Chapter For Hannover Kleefeld II sits in the northeast of...

XGS Energy IPO: Morgan Stanley, Geothermal Growth, and Fervo’s Market Momentum

XGS Energy Weighs IPO After Hiring Morgan Stanley, Chasing Fervo's Geothermal Momentum Geothermal developer XGS Energy has hired Morgan Stanley to evaluate an initial public offering, positioning itself as a potential second geothermal IPO of 2026 after Fervo Energy's blockbuster listing. The move underscores growing investor appetite for clean, firm power technologies as data-center demand and grid reliability concerns reshape the energy investment landscape. The Scoop: Morgan Stanley, IPO Timing, and Market Context In early July 2026, Axios Pro reported that XGS Energy engaged Morgan Stanley to assess a public listing, with company leadership potentially deciding within about a month whether to proceed. The timing is strategic: Fervo Energy's May 2026 IPO created a rare "open window" for geothermal equities, providing valuation benchmarks and investor education that earlier private rounds lacked. For investors, the narrative is straightforward. If Fervo proved t...

Arverne’s 70 Million Euro ORANE Financing Boosts Geothermal Growth and Lithium Expansion

Arverne Finalizes 70 Million Euro ORANE Issue, a Milestone for France’s Geothermal Future Image: A thematic picture of Arvene welcoming a team at their Lithium De France Operations Arverne’s successful completion of its 70 million euro ORANE financing marks more than a capital raise, it signals momentum for one of France’s most ambitious geothermal platforms. Backed by GEOGREEN , Bpifrance ,  ADEME Investissement   Crédit Mutuel Equity , and Eiffel Investment Group , the transaction reinforces confidence in Arverne’s integrated geothermal and geothermal lithium strategy, while giving the company fresh resources to accelerate its Dual Flow plan . A financing round with strategic weight The announcement, made on 24 July 2026, confirms that the ORANE issue was fully subscribed for a total of 70 million euros . For Arverne, this is not just a funding event, it is a validation of a business model built around the full geothermal value chain, from subsurface expertise and drilling...

85 Degrees Renewable Secures €200M Project Finance Framework to Expand Dutch Geothermal Heat Infrastructure

85 Degrees Renewable Secures €200M Project Finance Framework to Accelerate Dutch Geothermal Heat Infrastructure 85 Degrees Renewable has taken a major step in the financing of geothermal energy with a new project finance framework of up to €200 million backed by ING and Rabobank. The facility is designed to support the company’s next phase of development in the Netherlands, including the expansion of its Central Oostland geothermal heat network and the broader growth of its renewable heat infrastructure platform. The announcement is especially significant because it shows that geothermal heat is increasingly being treated as a mature infrastructure asset rather than an early-stage experimental technology. The deal also highlights how geothermal energy is becoming more central to the Dutch energy transition. In a country where greenhouse horticulture is a major economic sector and heat demand remains heavily dependent on natural gas, renewable heat solutions are gaining strategic import...

Geothermal EPC Companies: How Developers Choose the Right Contractor for Projects

Geothermal EPC Companies: How Developers Choose a Contractor Image: A Thematic image of a geothermal power plant  Geothermal developers choose EPC contractors by combining technical geothermal experience, financial strength, execution credibility, and the ability to manage field-specific risk. In recent awards, the strongest bidders have been those with proven geothermal references, repeat-delivery history, and the ability to package engineering, procurement, construction, and commissioning into one bankable offer . Why geothermal EPC is different Geothermal EPC is more complex than standard power plant construction because the contractor must build around a live underground resource. That means the project team has to deal with reservoir uncertainty, steam chemistry, scaling, corrosion, reinjection behavior, plant-field interfaces, and grid interconnection all at once . For developers, this turns EPC selection into a risk-management decision. The contractor is not just a builder; ...

Who Finances Next-Generation Geothermal Projects? Key Investors and Funding Trends

Who Is Financing the Next Generation of Geothermal Projects? Image : A thematic image of a geothermal power plant  The next generation of geothermal projects is being financed by a wide mix of venture capital firms, strategic corporate investors, commercial banks, institutional funds, and project finance lenders. The financing landscape is changing quickly because geothermal is moving from a niche clean-energy option into a serious infrastructure asset class with the potential to deliver reliable, 24/7 power at scale. Why geothermal finance is changing For years, geothermal struggled to attract large pools of capital because many projects were seen as technically risky, geographically limited, and difficult to scale. That perception is shifting as advanced geothermal technologies, especially enhanced geothermal systems, expand the number of places where geothermal can work. Investors now see a larger addressable market, stronger power demand, and better alignment with the needs of...

Furusato Neden and HEXA Energy Services Boost Japan Geothermal Investment Opportunities

Furusato Neden and HEXA Energy Services Sign Strategic Agreement to Accelerate Geothermal Investment in Japan Image: The deal is done Japan’s geothermal sector has taken an important step forward following the announcement that Furusato Neden Co., Ltd. and HEXA Energy Services GK have signed a Memorandum of Understanding to explore geothermal investment opportunities. The agreement, announced on 30 July 2026, signals growing confidence in geothermal energy as a long-term solution for Japan’s clean energy transition. The collaboration is especially significant because it brings together two complementary strengths. Furusato Neden contributes geothermal development and operational experience, while HEXA Energy Services adds expertise in renewable energy finance, project development, power purchase agreements, asset management, and electricity aggregation. Together, the two companies are positioning themselves to evaluate existing and future geothermal opportunities in Kumamoto Prefectu...

Geothermal Well Cost 2026: Country Benchmarks, Drilling Costs per Meter, Depth & Reservoir Risk, and Investment Insights

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...

Best US States for Geothermal Investment in 2026: Top Markets, Growth Opportunities, and Investor Insights

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...

Philippines Geothermal Drilling: Rufino "Dong" Cotanda Jr. on PGPC, EDC, ThermaPrime, and the Future of Geothermal Energy

Alphaxioms Exclusive: Inside the Philippines' Geothermal Drilling Success Story , A Conversation with Rufino "Dong" Cotanda Jr. Image : Rufino "Dong" Cotanda Jr The Philippines is the world's third-largest producer of geothermal electricity, with more than 2 GW of installed capacity. Behind this achievement is decades of technical expertise, sustained government support, and some of the world's most experienced geothermal drilling professionals. One of those professionals is Rufino "Dong" Cotanda Jr., a drilling veteran with over 45 years of experience in both oil & gas and geothermal operations. Having worked with Saudi Aramco , Desco , Unocal, Chevron , and now the Philippine Geothermal Production Company (PGPC), Dong has helped shape drilling programs across multiple continents. In this exclusive interview with Alphaxioms, he discusses the evolution of geothermal drilling in the Philippines, the technologies improving well performance,...