Alphaxioms Geothermal News and Related Research Globally

Ignis H2 Energy Raises $12.5M in Series A First Close: Paving the Way for a Sustainable Future in Geothermal Power By: Robert Buluma An image example of a geothermal drilling rig at Eden Geothermal In a groundbreaking move, Ignis H2 Energy Inc. has successfully secured $12.5 million in the first close of its Series A funding round, a game-changer for the geothermal industry. The funding comes from a distinguished consortium of investors, including leading funds, private individuals, and strategic partners like drilling contractor Nabors Industries. The round is led by alfa8 , a firm dedicated to advancing technologies for a sustainable future. This infusion of capital is set to accelerate Ignis Energy's mission to develop geothermal power across the globe, tapping into vast untapped energy reserves in the USA, Turkey, Indonesia, and Italy. This is not the first time we are seeing Geothermal startups raise tangible amounts of money as Sagegeosystems also had raised a similar amount...

Geothermal Technology Office  and  ConnectWerx Launch $19 Million Initiative to Enhance Regional Geothermal Data Collection By: Robert Buluma The U.S. Department of Energy's (DOE) Geothermal Technologies Office (GTO) , in collaboration with ConnectWerx , has announced a substantial funding opportunity aimed at strengthening geothermal data collection across various U.S. regions. This $19 million initiative seeks to identify and address regional data gaps, thereby promoting further geothermal exploration and development. The US Department of Energy has been very much supportive in Geothermal Energy fasttracking  initiatives that  are rewriting the geothermal energy saga globally with proven yet nerve shredding unveiling unfoldings in this less known yet very much instrumental industry Objective of the Initiative The primary goal of this funding opportunity is to establish regional partnerships that will: - Identify existing gaps in geothermal data. - Prioritize and p...

Geothermal Startup  Bedrock Energy Secures $12M to Revolutionize Carbon-Free HVAC for Buildings By: Robert Buluma In a groundbreaking move for the geothermal energy sector, Bedrock Energy , a Texas-based geothermal technology startup, has successfully raised $12 million in a Series A funding round. The funds aim to accelerate the development and deployment of their innovative, carbon-free heating and cooling solutions for buildings. With the increasing urgency to combat climate change,  Bedrock Energy technology is set to play a significant role in reducing greenhouse gas (GHG) emissions from buildings—a sector responsible for 15% of global carbon emissions.   A Game-Changer for Urban Geothermal Systems Founded in 2022,  Bedrock Energy has positioned itself as a pioneer in geothermal HVAC systems. Their cutting-edge technology integrates autonomous drilling with advanced subsurface modeling, significantly reducing the time and space required for geothermal in...

Exploring Buoyancy Effects in Advanced Geothermal Systems: A Fully Funded PhD Opportunity at the University of Sheffield By: Robert Buluma Image: Sheffield Home Garden The global demand for sustainable and scalable renewable energy has positioned geothermal energy as a critical player in the clean energy transition. However, traditional geothermal systems often face geographic limitations, restricting their deployment to specific locations. Enter Advanced Geothermal Systems (AGS)—a revolutionary approach poised to unlock geothermal energy's global potential. If you are passionate about tackling the challenges of geothermal energy and possess a solid background in engineering or applied sciences, the University of Sheffield is offering a fully funded four-year EPSRC iCASE PhD studentship in collaboration with SLB, a leader in energy technology innovation. We reported earlier on on how SLB , formerly Schullumberger joined forces with Ormat in Geothermal energy expeditions The Focus o...

Fervo Energy  Secures $255 Million to Power the Next Generation of Geothermal Energy Robert Buluma As the global push for sustainable energy solutions intensifies,  Fervo Energy has emerged as a trailblazer in revolutionizing geothermal technology. On December 19, 2024, Fervo announced a monumental achievement—securing $255 million in funding to accelerate the development of its enhanced geothermal systems (EGS). This groundbreaking initiative positions Fervo as a leader in the race to meet the soaring demand for 24/7 carbon-free energy.  A Leap Towards Energy Innovation   The funding includes $135 million in corporate equity, spearheaded by Capricorn’s Technology Impact Fund II, alongside investments from esteemed entities like Breakthrough Energy Ventures and CPP Investments. A $120 million credit facility from Mercuria further bolsters Fervo’s financial foundation, ensuring the rapid deployment of EGS projects across the United States.   Fervo ...

UK Allocates £10 Million to Accelerate Grenada’s Green Energy Transition By:  Robert Buluma Grenada has received a significant boost in its journey toward sustainable energy solutions, thanks to a £10 million investment from the UK government. The announcement was made during a meeting between Baroness Chapman, the UK Minister for Latin America and the Caribbean, and Grenadian Prime Minister Dickon Mitchell in St. George’s.   This funding will be directed toward Grenada’s Geothermal Energy Development Project, which aims to explore the viability of the country’s geothermal resources. If successful, this initiative could reduce Grenada’s heavy reliance on imported fossil fuels and lay the groundwork for locally sourced, cost-effective, and climate-resilient energy solutions.   A Major Step Toward Energy Independence   Baroness Chapman emphasized the importance of this investment, stating, *“I am thrilled to announce £10m in new funding, which is support...

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...

Unlocking Earth's Potential  Erdwarme Grunawald 61 Million Euro Geothermal Breakthrough By:  Robert Buluma In a thrilling development for renewable energy enthusiasts,  Erdwarme Grunawald has secured a monumental 61 million euros in federal funding for their latest geothermal drilling project at Laufzorn II. This infusion of capital marks a significant milestone in the quest for sustainable, CO2-free energy and underscores the potential of geothermal resources hidden beneath our feet. A Vision for the Future Laufzorn II is not just another drilling project; it's a testament to the visionary leadership of  Erdwarme Grunawald and their commitment to a greener future. With a total investment of around 153 million euros, this initiative aims to drill a second deep borehole that will substantially expand the local geothermal energy supply. "We are investing in the future of our energy infrastructure," says Andreas Lederle, Managing Director of Erdwarme Grunawald . ...

Geothermal Gold: Kenya's Renewable Revolution Alphaxioms has been Nominated by Total Energies In The Startupper of the year Challenge and your support inform of a like is making a difference, please vote By:  Teflon Don In the heart of Kenya's Rift Valley, a revolution is taking shape, transforming the landscape and the future of energy in Africa. The Sosian-Menengai geothermal project, a beacon of innovation and sustainability, is set to redefine Kenya's energy production with a 35-megawatt geothermal power plant, bolstered by a $68 million investment from the Development Bank of Southern Africa (DBSA). Geothermal energy, often overshadowed by solar and wind, is emerging as a formidable player in the renewable energy sector. Unlike its more temperamental counterparts, geothermal energy offers a constant, reliable power source, tapping into the Earth’s natural heat to generate electricity around the clock. For Kenya, a country blessed with a rich geothermal potential, this ...

Unleashing the Power Beneath: The Second-Round EGS Pilot Demonstrations By:  Robert Buluma image: wells of power at Kenyan Geothermal Field gushing steam Geothermal energy is a game-changer in the quest for sustainable and reliable energy sources. The U.S. Department of Energy (DOE) is pushing the boundaries of this potential through its Geothermal Technologies Office (GTO). With the second round of funding opportunities for Enhanced Geothermal Systems (EGS) pilot demonstrations, authorized under President Biden's Bipartisan Infrastructure Law, the future of geothermal energy looks brighter than ever. This initiative aims to catapult EGS into the mainstream, contributing significantly to the goal of a carbon pollution-free electricity system by 2035.  What Are Enhanced Geothermal Systems (EGS)? Enhanced Geothermal Systems (EGS) represent a cutting-edge approach to geothermal energy. Unlike traditional geothermal systems that rely on naturally occurring hydrothermal resources, ...

GDC Secures €5 Million Grant for Groundbreaking Geothermal Project By: Robert Buluma In a groundbreaking development for Kenya's energy sector, the Geothermal Development Company (GDC) has recently clinched a staggering €5 million grant from the Green Resilient Electricity System Programme. This pivotal grant, part of a larger EUR 20 million allocation for Kenya, heralds a new era of sustainable energy initiatives in the region. The focal point of this windfall is the ambitious Baringo-Silali geothermal project, a venture poised to redefine Kenya's energy landscape. With an emphasis on capacity building in sustainable project management, GDC is primed to ensure the seamless execution of this endeavor, marking a significant stride towards harnessing the potential of geothermal energy. The launch of the Green Resilient Electricity System Programme saw luminaries from the European Commission and Kenya's Ministry of Energy converge in Nairobi, underscoring the program's glo...

"Revolutionizing Energy: The Geothermal Breakthrough Shaking Up California" By : Robert Buluma In the sun-drenched landscapes of California, where solar panels gleam and wind turbines dance, a quiet revolution is underway, and it's not fueled by rays or gusts—it's powered by the Earth itself. Meet  XGS Energy, a trailblazing geothermal technology company on the brink of changing the energy game as we know it. With a recent infusion of USD 20 million in funding, they're poised to unleash their groundbreaking Thermal Reach Enhancement (TRE) technology onto the world stage, starting with a pioneering project right here in the Golden State. Imagine a future where clean, renewable energy flows effortlessly, not just when the sun shines or the wind blows, but around the clock, rain or shine. That's the promise of XGS ' innovative approach, tapping into the Earth's natural heat reservoirs to deliver a consistent, carbon-free energy supply. But this isn'...

Revolutionizing Energy in Bavaria: The Innovative Geothermal Project Supported by the  European Investment Bank By: Robert Buluma In the heart of Bavaria, Germany, a groundbreaking energy initiative is taking shape, promising a greener, more sustainable future for the region. Backed by the  European Investment Bank (EIB) and bolstered by the EU Innovation Fund, this project aims to harness the Earth's natural heat to power homes and businesses, marking a significant leap forward in renewable energy technology. The Vision: Eavor-LoopTM Technology At the forefront of this venture lies Eavor , a pioneering energy company dedicated to revolutionizing the way we harness geothermal energy. Their innovative Eavor-LoopTM technology represents a paradigm shift in geothermal power generation. Unlike traditional methods that rely on capturing heat from subsurface water or steam reservoirs, Eavor-LoopTM drills deep into the Earth, directly harvesting heat from underground rocks. The Impl...

Harnessing Earth's Heat: Bjelovar's Geothermal Revolution By:  Robert Buluma In the heart of Croatia, a quiet yet ambitious city is silently leading the charge towards a greener, more sustainable future. Welcome to Bjelovar, where innovation meets determination, and the earth's own warmth is becoming the cornerstone of a groundbreaking energy shift. Mayor Dario Hrebak proudly declares that Bjelovar is on the brink of transformation. With over 200 million euros invested in various projects – an amount equivalent to half the iconic Pelješki bridge – the city is not just dreaming of a sustainable future; it's actively building it. One of the most promising endeavors is the geothermal well project in Veliki Korenovo. This venture, with a total investment of 4.4 million euros, symbolizes Bjelovar's commitment to harnessing the Earth's natural resources responsibly. Co-financed by the Governments of Norway, Iceland, and Liechtenstein, along with substantial support fr...

 Unveiling the Future: Quaise Energy's Quest for Terawatt-Scale Geothermal Energy By:  Robert Buluma Image: Recent Core drilling set for ground works at Quaise In a world teetering on the brink of an energy revolution, one company is harnessing the power of the Earth itself to drive us towards a cleaner, brighter future. Quaise Energy, the brainchild of visionary minds and cutting-edge technology, has just secured a staggering $21 million in funding to propel its mission forward. But what exactly is Quaise Energy, and why should we all be paying attention? At its core, Quaise Energy is more than just a company; it's a beacon of hope in a landscape dominated by fossil fuels and climate concerns. By tapping into the virtually limitless potential of deep geothermal energy, Quaise is poised to revolutionize the way we power our world. But what sets deep geothermal energy apart from other renewable sources, you may ask? Well, for starters, deep geothermal power plants have the capa...

Harnessing Heat: Central Begins Construction on New Complex, Taking Big Steps Toward Carbon-Neutral Future. By :  Robert Buluma Crews at Central Washington University (CWU) are ushering in a new era of sustainability as construction kicks off at the North Academic Complex site. This groundbreaking project marks a significant stride towards achieving a carbon-neutral campus, setting a precedent for environmental stewardship in Washington state. The centerpiece of the complex is a pioneering geothermal well designed to tap into the renewable heat of the Ellensburg Aquifer. Working in tandem with the GeoEco Plant, this innovative system will provide heating and cooling for the complex and other facilities on the north campus. Led by the Capital Planning and Projects team, students from the Construction Management and Geology departments were treated to an exclusive tour, offering a glimpse into the future of sustainable infrastructure. As construction progresses, Garco Construction an...