Who Is Really Funding Next-Gen Geothermal in 2026? Next-generation geothermal has moved beyond laboratory research into a capital-intensive commercialization phase. In 2026, the most important financing is no longer coming from one investor category: venture capital funds are financing drilling, subsurface modelling and hardware; strategic energy companies are providing equipment, project access and market credibility; banks are beginning to lend against contracted projects; and governments are absorbing exploration and first-of-a-kind technology risk. The strongest financing activity is concentrated in the United States and Canada, but Europe is becoming increasingly important through Germany-based deployment, European Union grants, UK innovation support, and strategic participation from European energy companies. The central investment question is changing from “Can this technology work?” to “Can the developer deliver repeatable, financeable projects at commercial cost?” The 2026 fun...
Beyond Steam: Why Kaishan Group’s EGS Bet in Nevada Could Redefine Geothermal Energy By Robert Buluma For decades, geothermal energy has occupied a frustrating niche in the renewable energy hierarchy. It is celebrated for its superpower—a capacity factor that rivals nuclear power, producing electricity 24/7 regardless of weather. Yet, it has remained geographically tethered to rare, naturally occurring pockets of underground water, steam, and permeable rock. Only places like Iceland, parts of California, and New Zealand have been able to tap it at scale. That limitation may be about to shrink dramatically. This morning, Kaishan Group (300257.SZ), a Chinese manufacturer-turned-geothermal-operator, announced that its U.S. subsidiary, Open Mountain Energy, LLC (OME), has signed a development agreement with Power Planet, Inc. to validate and commercialize Enhanced Geothermal Systems (EGS) technology at its existing Star Peak geothermal project in Pershing County, Nevada. The announce...