XGS Energy Rides the Geothermal Wave with Major Funding Boost In a significant stride towards a sustainable energy future, Baltimore-based energy producer Constellation Energy has led a robust $9.7 million funding round for XGS Energy. This marks the third geothermal startup this year to secure substantial investment, showcasing a promising trend in the industry. Geothermal energy, harnessed from the Earth's heat beneath its surface, has long held potential as a reliable power source. XGS Energy, armed with its cutting-edge Thermal Reach Enhancement (TRE) technology, is at the forefront of this transformative wave. Unlike solar or wind power, geothermal energy provides a constant source of electricity, making it an ideal complement to intermittent renewable sources. The challenge, however, lies in overcoming drilling costs and the geographical limitations that have hindered the widespread adoption of geothermal energy. XGS's TRE technology employs a single drill to reach hot ro...
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