North America

• Region: North America
• Topics: Geothermal
• Date: 9 April, 2025

The Colorado Energy Office (CEO) has awarded US$14.4mnin funding to advance geothermal heating projects across the state.

• Region: North America
• Topics: Geothermal
• Date: 09 April, 2025

Last month the World Bank Board of Executive Directors approved a project to support El Salvador in increasing its renewable electricity generation and to help harness geothermal heat for direct use.

• Region: North America
• Topics: Geothermal
• Date: 4 April 2025

Dandelion Energy has teamed up with American house builder Lennar Corporation on a partnership aimed at making geothermal heating and cooling the standard in new home construction.

• Region: North America
• Topics: Geothermal
• Date: 28 March, 2025

XGS Energy, a U.S.-based developer of next-generation geothermal power projects, has raised US$13mn in new financing to advance its proprietary water-independent geothermal technology. 

The oversubscribed funding included new investors Aligned Climate Capital, ClearSky, ClimateIC, and WovenEarth Ventures, alongside existing backers. This follows a previous 2024 investment round led by Constellation Technology Ventures, VoLo Earth Ventures, and Valo Ventures.

“We are excited to welcome new investors who appreciate the requirements of power infrastructure and understand how our unique technology unlocks a massive global development opportunity,” said Josh Prueher, CEO at XGS.

With this funding, Mano Nazar, ClearSky Senior Advisor and former Chief Nuclear Officer at NextEra Energy, will join the XGS Energy Board of Directors. "XGS’ advanced geothermal technology is uniquely positioned to deliver abundant energy to the grid faster than any other baseload energy technology at a time of unprecedented demand for energy resources,” said Nazar. “We are excited to partner with XGS to deliver on their mission of sustainable, reliable, and scalable geothermal energy.”

XGS has developed a modular, water-independent geothermal system designed to overcome the financial and geographical limitations that have traditionally restricted geothermal expansion. The company successfully conducted a shallow field test of its Thermal Reach Enhancement (TRE) technology in 2024 and is now operating its first commercial-scale well in California. This project has helped validate predictive performance models and accumulate critical operational data. The latest funding will help drive the development of XGS’ multi-gigawatt project pipeline, aligning with the growing need for baseload power solutions.

“As both venture and infrastructure investors, we evaluate every investment first and foremost through the lens of financeability,” said Peter Davidson, CEO of Aligned Climate Capital. “With its focus on minimizing exploration risk and optimizing for long-term predictability, XGS is systematically overcoming the barriers that have historically prevented geothermal from securing large-scale, low-risk project financing, unlocking a new era of geothermal scale.”

XGS plans to expand its workforce through the end of the year, growing from its headquarters in Houston, Texas, and will continue raising funds to support its growth strategy. “We are ramping commercial operations ahead of our planned growth equity round later this year, which will highlight the results of our first commercial-scale system plus our growing project pipeline,” said Lucy Darago, Chief Commercial Officer at XGS.

“We’re pleased to be partnering with XGS at this critical inflection point,” said Kevin Kimsa, Managing Partner at ClimateIC. “We are facing global energy supply challenges of unprecedented scale and urgency. The XGS team is uniquely primed to meet the moment, bringing together innovative technology and leading engineering talent with the deep experience in infrastructure development and financing critical to deploying large-scale energy systems at speed.”

• Region: North America
• Topics: Geothermal
• Date: 25 March, 2025

The Caribbean Development Bank (CDB), the UK’s Foreign, Commonwealth & Development Office (FCDO) and the Government of Grenada have signed a £10mn Memorandum of Understanding to support Grenada’s geothermal test drilling, further advancing the island’s green energy development.

• Region: North America
• Topics: Geothermal
• Date: 21 March 2025

The US Department of Defence (DoD) is exploring the possibility of developing “utility-scale” geothermal power plants to supply electricity to military bases in the United States and abroad.

• Region: North America
• Topics: Geothermal
• Date: 20 March, 2025

Philadelphia Gas Works (PGW) has released a Request for Proposals (RFP) seeking a firm to conduct a geothermal site survey and feasibility study in collaboration with the School District of Philadelphia (SDP).

• Region: All
• Topics: Geothermal
• Date: 17 March, 2025

Syntholene Energy Corporation (Syntholene) has signed a binding Letter of Intent securing 20MW of geothermal power in a bid to deploy the world’s first geothermally-powered synthetic sustainable aviation fuel (eSAF) plant module.

• Region: North America
• Topics: Geothermal
• Date: 14 March, 2025

At the beginning of March, the Bureau of Land Management (BLM) approved the Newcastle Geothermal Development project which is expected to generate up to 20MW of renewable energy for the public lands near Newcastle, Utah.

• Region: North America
• Topics: Geothermal
• Date: 12 March, 2025

The Organisation of Eastern Caribbean States (OECS) and New Zealand have signed a partnership agreement to advance the development of geothermal energy within the Caribbean.

• Region: North America
• Topics: Geothermal
• Date: 10 March, 2025

DEEP Earth Energy Production Corp. (DEEP) has signed an MoU with the Saskatchewan First Nations Natural Resource Centre of Excellence to establish a framework for First Nation investment in DEEP’s geothermal power project.

• Region: North America
• Topics: Geothermal
• Date: 10 March, 2025

Clean Energy Technologies, Inc., a provider of turnkey energy solutions specialising in advanced technologies for cost-effective and eco-friendly energy generation, has signed a Memorandum of Understanding (MOU) with Qymera Canada Inc.