ALPHAXIOMS Geothermal News & Energy Research

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...

Closed-Loop and Advanced Geothermal Systems: The Next Frontier in Clean Heat and Firm Power Image: A steam gathering system supplies steam as geothermal steam is oozed out into the atmosphere  Closed-loop and advanced geothermal systems are quietly rewriting the rules of geothermal energy. Instead of hunting for rare, naturally permeable reservoirs full of hot water, these systems treat the subsurface as a giant rechargeable heat battery that you can tap almost anywhere the rock is hot enough. By cutting water use, minimising seismic risk, and decoupling projects from fragile hydrothermal geology, technologies like XGS Energy’s “heat sponge” approach and Green Therma’s Heat4Ever offer a path to firm, low‑carbon heat and power in places that were never considered “geothermal country.” Why Traditional Geothermal Hit a Wall Conventional hydrothermal geothermal has always looked ideal on paper: steady baseload output, tiny footprint, long asset lives, and near‑zero operational emission...

Green Therma and the Future of Geothermal Scale in Europe By: Robert Buluma Geothermal energy has long been one of the most intriguing renewable resources in the global clean energy mix. It is steady, local, and available around the clock, unlike solar and wind, which depend on weather and daylight. Yet despite these advantages, geothermal has often remained a niche part of the energy landscape. The reason is not a lack of potential, but a combination of technical complexity, high upfront drilling costs, site-specific geology, and the challenge of scaling projects in a repeatable way. That is why companies promising a new generation of geothermal systems tend to attract attention. Green Therma is one of those companies. Its message is bold: geothermal technology for scale, potentially up to 25,000 wells in Europe. That is a major claim, and it deserves careful attention. If such a model works, it could change how Europe thinks about district heating, industrial heat, and energy securi...

NGP : A Siemens Energy Spin-Out The most innovative player in advanced geothermal energy you’ve never heard of. By:  Robert Buluma When carbon dioxide is viewed not as a problem but as the key to unlocking 24/7 renewable energy, the traditional boundaries of geothermal power expand dramatically. That is the foundational bet of Factor2 Energy , a deep-tech spin-out from Siemens Energy , whose intellectual property approach is known as NextGen Geothermal Power (NGP) . This is not merely an incremental improvement on conventional geothermal, but a fundamental re-engineering of the concept—creating a closed-loop, CO₂-based system that promises cheaper, safer, and vastly more scalable access to the planet’s natural heat. The Core Innovation: Why CO₂ Beats Water Conventional geothermal power has been limited for over a century by a simple reality: it needs three things to work simultaneously—heat, water, and natural underground permeability. The world’s best resources are concentrated in...

Croatia’s Geothermal Breakthrough: €30 Million EU Call Launched for Four New Wells in Velika Gorica, Osijek, Vinkovci, and Zaprešić (Croatia) By Robert Buluma   ZAGREB, June 12, 2026 – Just days after the official opening of a landmark €30 million tender for geothermal well drilling, Croatia is cementing its position as a regional powerhouse in renewable heating. The Ministry of Economy announced on June 2, 2026, the launch of the call for project proposals under reference PK.3.2.01 – Investment in Geothermal Energy, a move that transforms years of exploratory research into tangible, shovel-ready infrastructure. The call, which opened on June 3, 2026, at 12:00 CET and will close on June 30, 2026, at 16:00 CET, designates a single eligible applicant: the Hydrocarbons Agency of Croatia (Agencija za ugljikovodike) . With a total non-repayable grant of €30,000,000 from the European Regional Development Fund (ERDF ), the project will finance the drilling of four additional geothermal we...