North America

• Region: North America
• Topics: Geothermal
• Date: 11th September 2026

Geothermal energy company, Dig Energy, has broken ground and completed its first paid commercial installation: geothermal heating and cooling at Sulfolk’s 100MAG, and AI and innovation hub in Boston.

• Region: North America
• Topics: Geothermal
• Date: 11th September 2026

The US Department of Energy’s Office of Geothermal has announced a US$300,000 Geologic Enhanced Mapping System (GEMS) Prize to help identify hidden geothermal systems in a big to prioritise efforts to accurate the ongoing geological mapping of the US.

• Region: North America
• Topics: Geothermal
• Date: 8th September 2026

The Nevis geothermal project is moving ahead, with the drill rig that will be used to develop the island’s energy resources undergoing final inspection in Iceland ahead of mobilisation to the Caribbean island.

Iceland Drilling has been tasked with the drilling work after signing a contract with Nevis Electricity Company (Nevlec) back in April this year.

Premier of Nevis and Minister of Energy in the Nevis Island Administration, Mark Brantley, said in late August that the inspection work represents the final major step before the rig is transported to the project site.

“The final pre-condition for mobilisation of the drill rig to Nevis is an inspection of that drill rig, and that inspection is currently underway in Iceland,” he said.

The inspection work is being conducted by Scotia Drilling Consultants, a UK-based company, and is focused on the rig’s structural, mechanical, operational and safety systems.

Brantley said completion of the inspection will clear the way for the next stage of the project.

“Once this drill rig inspection is completed, then it would mean that we have now done all that is necessary in order to move this to the next phase, which is the actual mobilisation of the rig to the island of Nevis.”

Mobilisation of the rig and other heavy equipment is expected to take place throughout September and October, with work on the first well scheduled to begin by the end of the year.

The 272-metric-tonne Drillmec HH-300 ‘Týr’ rig is expected to drill five geothermal wells at the Hamilton geothermal site.

Technical work is also underway in Nevis at the project site to prepare for the arrival of the rig and the commencement of drilling.

“Civil works for the well pad will be done by a company called COWI and that too is a company from Iceland and that company will be supervised by Iceland Drilling,” said Brantley.

The development of the geothermal wells is a critical component of a wider project which is intended to harness Nevis’ indigenous geothermal resource for electricity generation.

The planned 30-megawatt power plant would use the geothermal resource to generate clean, renewable electricity, reducing Nevis and St. Kitts’ dependence on imported fossil fuels and strengthening the Federation’s energy security.

• Region: North America
• Topics: Geothermal
• Date: 4th September 2026

The US Department of Energy (DOE) has launched the Geothermal Centre of Excellence (Geothermal CoE) as part of broader efforts to fast-track the sector’s development.

Its goal, the DOE said in a statement, is to help connect industry to the national laboratories, drive innovation in geothermal technologies, enhance inter-laboratory collaboration and expand geothermal deployment throughout the country.

The new centre was unveiled on 3rd September, 2026 by DOE Under Secretary Kyle Haustveit, alongside leadership from DOE’s Hydrocarbons and Geothermal Energy Office (HGEO), the National Laboratory of the Rockies (NLR) and the National Energy Technology Laboratory (NETL).

It will be located on NLR’s campus in Golden, Colorado, and operate under the oversight and direction of HGEO, NLR and NETL.

At the launch event, DOE leadership emphasised the importance of the CoE in achieving its goal to accelerate the discovery and development of gigawatt-scale geothermal energy and position geothermal as a competitive domestic source for reliable baseload electricity generation.

HGEO’s Office of Geothermal also discussed current office research, development and demonstration, highlighting how the CoE and its collaborations will augment and build on the Office’s initiatives.

“The United States leads the world in geothermal electricity-generating capacity at just over 4 gigawatts (GW) — however, the nation is tapping only a fraction of its total potential,” a DOE statement noted.

DOE-funded analysis indicates the possibility of significantly more geothermal power, as much as 300 GW or more with technology and policy advances.

It added that cost-competitive geothermal would offer a much-needed source of firm, flexible electricity across the country.

“Expanding domestic generation is a crucial part of President Trump’s agenda and the Secretary’s mandate to advance energy addition and restore American energy dominance,” it noted.

“Adding affordable, reliable energy like that from geothermal is also crucial to support human possibility throughout the world and meet the needs of data centres, industry and communities.”

It said that the Geothermal CoE will help realise DOE’s goals to expand geothermal power by driving innovation and serving as industry’s main entry point to the national laboratories and their range of technical and analytical expertise.

An industry advisory board will provide objective insight into industry-relevant geothermal research needs, accelerate industry-lab partnerships, and advise on the centre’s priorities.

The DOE also highlighted the increasing overlap with the nation’s oil and gas industry.

“Techniques from oil and gas as well as new innovations are helping the United States tap into more of its vast heat resources. At the same time, technical challenges remain to fully realise geothermal’s potential,” the statement noted.

“Geothermal environments are hotter and harsher than oil and gas, so new components and tools are needed for geothermal. In addition, the geothermal industry currently drills a relatively small number of wells per year, and there’s a dearth of data about how enhanced geothermal systems perform over time.

“Research and data are important to de-risk technologies, help projects gain access to capital, and help offtakers and utilities better understand how to integrate geothermal energy."

• Region: North America
• Topics: Geothermal
• Date: 4th September 2026

The global pioneer of next-generation geothermal energy, Fervo Energy, has announced a 396MW power purchase agreement with Google for the continued development of the Cape Station EGS GeoCluster, which is expected to come online in 2028.

• Region: North America
• Topics: Geothermal
• Date: 28th August 2026

Quaise Energy has announced the final close of its Series B financing, raising a total of US$180mn in equity — a further signal of the influx of capital into geothermal energy in the USA.

The Series B round brings Quaise’s total funding to date to US$280mn.

The proceeds will fund Project Obsidian, the world’s first commercial superhot geothermal power plant, and accelerate the commercialisation of Quaise's millimetre wave drilling system toward depths in excess of 5 km.

The latest funding round also includes a US$35mn investment from international land drilling contractor, Nabors Industries.

As well as funding, Nabors Industries has entered into a strategic framework agreement that supports Quaise’s mission to make superhot geothermal a commercial reality, beginning with the development of the flagship Project Obsidian.

“We are unlocking the most powerful clean energy source on Earth, and the Series B signals deep conviction across a wide range of investors,” said Carlos Araque, CEO and President, Quaise Energy.

“Nabors is an invaluable partner as we move millimetre wave drilling to full commercial operations at Project Obsidian and beyond.”

Key highlights:

• Final close of Series B to advance the commercialisation of superhot geothermal energy, funding Project Obsidian and the continued development of Quaise’s millimetre wave drilling system

• Nabors Industries and Quaise deepen relationship with strategic framework agreement spanning drilling operations, technology integration and commercial development

• Series B brings Quaise's total funding to date to $280 million

Drilling expertise

Nabors’ investment builds on an existing relationship with the company, and the strategic framework agreement spans drilling operations, technology integration and commercial development.

It gives Quaise access to a dedicated land rig and Nabors’ advanced platform that integrates reservoir modelling, well design and drilling strategy.

As its drilling programme advances, shared data and operational experience are expected to enhance drilling performance, reduce costs, and expedite the project timeline.

“Superhot geothermal has the potential to make clean energy ubiquitous. That is why we are excited about our close relationship with Quaise,” said Anthony G. Petrello, Chairman, President and CEO, Nabors Industries.

“Quaise’s millimetre wave technology changes the equation entirely by reaching superhot rock at temperatures and depths that are inaccessible with conventional drilling, transforming geothermal from a location-dependent resource into a global energy solution. Combined with Nabors’ drilling expertise and infrastructure, we see a path to gigawatt-scale geothermal power that no other company can offer today.”

Capital inflows 

The financing is the latest in a string of sizeable investments backing the development of next-generation geothermal technologies in the US, as investors increasingly look to the sector as a source of reliable, around-the-clock clean power.

The growing flow of private capital is also helping move geothermal beyond early-stage technology development and towards commercial-scale projects.

The Series B round's first close, announced in July 2026, was led by Prelude Ventures, with strategic investments from JERA Co., Inc. and Idemitsu Kosan, two of Japan's largest energy companies.

BofA Securities and Goldman Sachs & Co. LLC advised on the fundraise.

• Region: North America
• Topics: Geothermal
• Date: 20th August 2026

Sanborn has announced its subsidiary, EDCON-PRJ, has completed a high precision airborne magnetic survey supporting geothermal exploration in Nevada.

• Region: North America
• Topics: Geothermal
• Date: 20th August 2026

EIG Geothermal Catalyst Partners, L.P. (GCP) has completed its inaugural investment, partnering with geothermal firm, Power Planet, a further sign of more capital moving into the sector.

Power Planet is a geothermal development company advancing enhanced geothermal system (EGS) projects.

The investment will support continued development of Power Planet’s Star Peak EGS project and the company’s broader portfolio.

Star Peak, Power Planet’s lead development effort, is expected to benefit from existing geothermal infrastructure, available interconnection capacity and subsurface data from the Star Peak geothermal field.

Andrew Ellenbogen, President of EIG, said the institutional investor believes geothermal can play an “increasingly important role” in meeting growing electricity demand with firm, reliable and low-carbon power.

He said the fund seeks to support high-quality geothermal projects at key stages of their development.

GCP’s investments are expected to help sponsors address technical and commercial risks and to enable broader institutional participation in the geothermal sector, while seeking attractive, risk-adjusted returns consistent with EIG’s disciplined investment approach, he added.

“The fund’s inaugural investment is an important milestone and reflects the opportunity we see to support next-generation geothermal development in the United States,” said Ellenbogen.

“We believe Power Planet’s portfolio is well aligned with the fund’s mission of providing development capital to help advance geothermal projects through key technical and commercial milestones, and we look forward to supporting the company as it advances the Star Peak project and its broader portfolio.”

Keith Elliott, CEO of Power Planet, said the company is excited about its Star Peak project because it represents a “compelling path” to bringing new EGS power to the US grid.

“We expect to begin delivering EGS electrons in 2027/2028,” he noted.

He added that EIG’s partnership has been instrumental in accelerating the project and attracting additional capital.

“We are honoured that Power Planet was selected for the fund’s inaugural investment, which supports our next phase of growth. We look forward to building on this partnership as we seek to scale our ambitious development portfolio and accelerate the deployment of EGS across the United States.”

• Region: North America
• Topics: Geothermal
• Date: 19th August 2026

Sage Geosystems has announced the SMECI facility in South Texas has been placed in service, establishing an important proof point for Sage’s proprietary EGS approach to deliver scalable geothermal power.

• Region: North America
• Topics: Geothermal
• Date: 18th August 2026

The Utah Frontier Observatory for Research in Geothermal Energy (Utah FORGE) has begun an extended circulation test at a site 10 miles northeast of Milford in Utah.

• Date: 13th August 2026

Project InnerSpace and the Society of Petroleum Engineers (SPE) has announced a new partnership to institutionalise geothermal as a technical focus area across SPE’s core disciplines.

InnerSpace has provided support for the partnership with a US$100,000 grant to help build upon SPE’s identification of geothermal as a one of its five core ‘Grand Challenges’. The support is designed as catalytic seed funding, providing the activation energy for a set of repeatable initiatives that can sustain and grow over the coming years, with the aim of engaging the full technical weight of the oil and gas industry.

The initiative is structured around two workstreams: Journal of Petroleum Technology, a print publication with PE articles on the technical synergies between oil and gas and geothermal; and geothermal-focused activities led by SPE Technical Directors across six disciplines – Drilling, Completions, Data Science, HSES, Production and Facilities, and Reservoir Engineering.

The grant extends a growing collaboration between SPE and InnerSpace, who are working together to develop the Geothermal Resources Management System (GRMS), a standardised resource and reserves classification framework for geothermal modelled on SPE’s Petroleum Resources Management System (PRMS).

Jamie Beard, Founder and Executive Director or Project InnerSpace, said, “The oil and gas industry, with its highly skilled workforce and technological advancements that rival those in space exploration, is poised to lead the way in developing this abundant and undervalued resource beneath us. We are proud to partner with SPE to tackle remaining challenges to industry-wide engagement.”

Chief Executive Officer at SPE, Simon Seaton, commented, “SPE’s mission is to connect technical professionals to advance the safe, responsible, and sustainable development of oil and gas and related energy resources. We are grateful for Project InnerSpace’s support and partnership in helping create new opportunities for our members to apply their expertise, collaborate across disciplines, and accelerate the growth of geothermal.”

• Region: North America
• Topics: Geothermal
• Date: 11th August 2026

Dominica’s Minister for Finance, Economic Development, Climate Resilience and Social Security Dr Irving McIntyre has said the Caribbean island “must fully explore its geothermal potential” after it commenced first production this year from a debut 10 MW power plant.

Ormat Technologies confirmed the start-up of Dominica’s geothermal power plant in its recent Q2 filings, but McIntyre noted in a budget speech on 4th August that the facility is now approaching full commercial operation after passing reliability testing.

During the first three months of commercial operation, he said the Independent Regulatory Commission will monitor geothermal performance and its effect on consumer electricity costs.

He also said this milestone shows the project is moving beyond “early commissioning difficulties,” without elaborating any further on what challenges were faced.

“As steady geothermal generation is integrated with the strengthened transmission system, it should reduce pressure on diesel generation and help limit generation-related outages,” he said.

“It will not eliminate every interruption, as distribution faults, maintenance and extreme weather will still matter, but it should make the electricity system more stable and resilient.”

Crucially, McIntyre was bullish about the project and its potential to propel other geothermal energy ventures.

“There are endless opportunities to be had from this resource including export of energy and conversion to other products.”

With this in mind, he noted, the government is “actively investigating” other sources of geothermal energy in the country, including in the north, “while actively preparing to expand its yield from the reservoirs in the Roseau Valley.”

Though geothermal will not cut energy bills overnight, he added, it will reduce exposure to imported fuel prices.

“Our investment in geothermal energy is, therefore, a strategic investment in energy security, economic resilience and Dominica’s ability to exercise greater control over its own development.”