Latest News

• Date: 8th July 2026

Dandelion Energy, the geothermal heating and cooling solutions provider, has announced two new homebuilder partnerships with Dream Finders Homes and Ward Communities, with the projects having been awarded US$1.3mn in funding from the Maryland Energy Administration. 

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

Eavor Technologies has been awarded US$8mn from the Government of Alberta’s Technology Innovation and Emissions Reduction (TIER) fund to support the Eavor-Jules project.

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

Quaise Energy has raised US$134mn in the initial close of its Series B financing round as it looks to build what it says will be the world’s first commercial superhot geothermal power plant and advance its millimeter wave drilling technology.

“Our ambition is to power civilisation with Earth’s most compelling energy source,” said Carlos Araque, the company’s CEO and President. “This round takes us from field-proven technology to first commercial revenues.”

The Series B financing brings its total funding raised to date to US$230mn.The proceeds will be used to develop Project Obsidian in Central Oregon and continue advancing the company’s millimeter wave drilling system to depths exceeding five kilometres.

The Houston-based company reported that the latest funding round was led by Prelude Ventures, with strategic investments from JERA Co., Inc. and Idemitsu Kosan, two of Japan's largest energy companies.

Nearly all existing investors, including Safar Partners, also participated, it added.

In a statement, Quaise said additional equity and debt financing is expected to close soon, adding further financial firepower to its commercialisation plans.

The company’s drilling technology, developed at the Massachusetts Institute of Technology, uses millimeter waves to ablate rock at depths and temperatures beyond the reach of conventional drilling methods.

Quaise said the approach could access rock temperatures between 300°C and 500°C, allowing geothermal systems capable of rivaling fossil fuel and nuclear power in energy density while matching renewable energy costs.

The company has drilled more than 100 metres through granite at its Central Texas field site in 2025 and is now approaching one kilometre in depth.

According to the Quaise statement, reaching that milestone would represent the deepest penetration achieved using millimeter wave drilling and the deepest ever recorded by any non-contact drilling technology.

Project Obsidian is currently under construction on federal geothermal leases in Oregon’s Deschutes National Forest.

The company believes the project has gigawatt-scale potential and hopes to deliver electricity to the grid by 2030.

Mark Cupta, Managing Director at Prelude Ventures, which supported the latest fundraiser, said the project demonstrates the company’s progress toward commercial deployment.

“What the team has achieved in the field and what they are now building at Project Obsidian validates that conviction, and we are proud to continue supporting Quaise as they move from proving the technology to powering the grid with clean, reliable energy nearly anywhere on Earth,” he said.

• Region: North America
• Topics: Geothermal
• Date: 7th July 2026

A US$63mn geothermal energy project at Fort Sill in Oklahoma is set to transform 1,700 military family homes, demonstrating how ground-source heat pump technology can reduce energy consumption while improving comfort and resilience.

It reflects a rise in interest among the US military in utilising geothermal energy at some of its domestic bases and facilities.

Led by Corvias, the programme will install high-efficiency geothermal heat pumps alongside smart thermostats, upgraded hot water systems and advanced building controls.

The company expects the improvements to reduce annual energy use across the housing community by 57%, delivering more than US$5mn in annual savings.

Corvias Executive Vice President of Investment Management Kyle Miller said the initiative reflects the broader strategy to deploy innovative infrastructure solutions across military communities.

“This project reflects our commitment to innovating at scale for the betterment of military families,” said Miller.

“Through our expanded partner network and Solutions Through Partnerships approach, we are able to address some of the military's most pressing infrastructure and quality of life challenges.”

The project was recently showcased to US Army leaders, congressional representatives and industry partners, who toured manufacturing facilities, drilling operations and completed homes to see the technology in action.

The geothermal systems use stable underground temperatures to provide heating and cooling, reducing HVAC energy consumption by between 40% and 70% compared with conventional systems.

The upgraded homes also incorporate AI-enabled controls that support predictive maintenance, helping improve reliability while reducing maintenance requirements.

The Fort Sill project is being delivered through an Energy Savings Performance Contract (ESPC), allowing the infrastructure improvements to be financed through future energy savings rather than upfront public funding.

Corvias estimates ESPC projects across its portfolio will generate approximately US$61mn in annual savings and more than US$1.7bn over their lifetime.

As one of the largest residential geothermal deployments in US military housing, the Fort Sill project could provide a blueprint for wider adoption of ground-source heat pump technology at military installations and other large residential communities seeking to improve energy efficiency and long-term resilience.

“As we leverage advanced technologies and partnerships to build a more resilient Fort Sill, it is essential for our collective teams to be synchronized through this process to rapidly deliver the enhanced homes our military families deserve and to generate critical savings that can be reinvested back into Fort Sill and our people,” said US Army Col. John Morgan, Fort Sill garrison commander.

• Region: North America
• Topics: Geothermal
• Date: 2nd July 2026

Fervo Energy, NVIDIA, and the Pacific Northwest National Laboratory (PNNL) have reached an agreement to develop a next-generation digital twin platform for EGS technology, known as EGS-Twin.

• Region: North America
• Topics: Geothermal
• Date: 2nd July 2026

The Bureau of Land Management has authorised the Pearl Geothermal Development Project on the public lands of Esmeralda County in Nevada, using an accelerated 14-day environmental review process.

• Region: Europe
• Topics: Geothermal
• Date: 1st July 2026

The European Geothermal Energy Council (EGEC) has become a signatory to a new European tripartite agreement aimed at accelerating the deployment of energy storage technologies across the European Union — with geothermal storage highlighted among the solutions expected to support industrial decarbonisation and the energy transition.

Prepared by the European Commission, the agreement brings together energy ministers from 22 EU member states alongside organisations representing energy storage developers and manufacturers, renewable energy developers, energy-intensive industries and financial institutions.

It seeks to speed up the deployment of energy storage solutions, including battery and thermal energy storage, to support a cleaner and more resilient European energy system.

EGEC Secretary General Philippe Dumas said signing the agreement was a proud moment for the organisation.

“The agreement brings together key players including storage solution providers, power and heat producers, energy consuming industries and the district heating and cooling sector, plus the banks who have a key role to play in financing energy storage projects,” he said.

“With the strong backing and commitment from the European Commission and national governments, we are optimistic that this agreement will provide a platform for accelerating the deployment of underground thermal energy storage across the whole of the EU, as well as the supply of geothermal lithium for batteries.”

He added: “In this way we can continue to show how all kinds of geothermal storage solutions can contribute to achieving a more resilient, efficient and sustainable energy system.”

Under the agreement, the European Commission will support member states in developing funding schemes for energy storage projects and explore additional support through the Industrial Decarbonisation Bank and the Innovation Fund.

National governments have committed to removing barriers to deployment, while financial institutions will work to strengthen financing for storage projects and technology providers will collaborate with industrial energy users.

Alongside the signing on 26 June, the Commission highlighted several energy storage projects it considers replicable across Europe:

The GESIIS project in Ostellato, Italy, which integrates geothermal energy with high-temperature aquifer thermal energy storage.

The Korvenmäki waste-to-energy plant in Salo, Finland, where deep geothermal wells store surplus heat for the district heating network.

The Kuebebierg district heating and cooling project in Luxembourg, which combines seasonal solar-to-ground thermal storage with geothermal boreholes.

The agreement was signed during a ceremony in Luxembourg chaired by European Commissioner for Energy Dan Jørgensen.

• Date: 30th June 2026

The USA Department of Commerce’s CHIPS Research & Development Office has signed an agreement with I-Pulse for a US$250 million CHIPS R&D award to advance U.S. technology leadership and innovation in novel silicon carbide (SiC) power semiconductors that can operate in extremely harsh environments.

I-Pulse will develop next-generation SiC semiconductors for high-temperature, high-current, high voltage solid-state switches in partnership with industry-leading Federal Laboratories, universities and specialised manufacturers.

By deploying SiC-based power electronics in pulsed-power drills, geothermal and critical minerals mining, drilling can be done more efficiently than conventional methodologies, and at a lower cost.
I-Pulse’s proprietary semiconductor and pulsed-power drilling technology will unlock significant untapped resources of geothermal power within the United States, enabling the next-generation of advanced geothermal power plants in America’s massive hot dry granite formations.

I-Pulse’s silicon-carbide switches will enable unparalleled drilling performance in high-temperature rock conditions. I-Pulse employs high-voltage switches to apply extremely high-power electrical pulses to hot granites and other geothermal formations. These powerful electrical pulses fracture and soften the rock ahead of the drill bit, multiplying drilling speed and vastly extending the life of the drill bit.

“With today’s announced investment, the Trump Administration is strengthening America’s capabilities and enhancing its national and energy security goals,” said Secretary of Commerce, Howard Lutnick.

“I-Pulse's next-generation silicon carbide-based technology is a game-changer for operations in extreme environments," said Bill Frauenhofer, executive director for Semiconductor Investment and Innovation at the Department of Commerce. "I-Pulse’s high-power, high-frequency switches and packaging are engineered to withstand harsh shocks and temperatures, empowering critical industries to push past previous technical limits.”

As part of the deal, the Department of Commerce also received a minority, non-controlling equity stake in I-Pulse, a private US company set up to bring high pulsed-power technology into civilian sectors.

• Region: Asia Pacific
• Topics: Geothermal
• Date: 26th June 2026

SAP SE has announced that PT Geo Dipa Energi (Persero), Indonesia’s state-owned geothermal energy company, has successfully modernised its core enterprise systems through the RISE with SAP business transformation programme to enhance asset reliability and provide a foundation to drive future growth, thereby supporting Indonesia’s renewable energy ambitions.

As a strategic player in Indonesia’s energy transition, Geo Dipa Energi operates geothermal assets in Dieng and Patuha, with around 120 MW of installed capacity and over 800 MW of resource potential. To accelerate its growth and support its increasingly complex operations across the geothermal value chain, the company embarked on a digital transformation to modernise legacy systems, streamline business processes, and enable real-time, data-driven decision-making. To support this move it chose RISE with SAP, a guided transformation journey designed for SAP ERP customers, that is supported by various methodologies, advanced tools, and expert guidance.

The transformation was delivered in just four months in collaboration with PT Soltius Indonesia, an SAP Platinum Partner, which supported the end-to-end implementation and integration of Geo Dipa Energi’s core business processes into a unified cloud platform.

Single integrated platform

Through its adoption of SAP Cloud ERP through RISE with SAP, the company now runs on a single integrated platform that connects data and processes across the business, enabling real-time visibility, improved asset reliability, streamlined supply chains, and standardised operations, while enhancing governance, accelerating reporting, and supporting a more scalable, cloud-based operating model for future growth. Geo Dipa Energi can now operate with greater consistency, transparency, and control across its business. The transformation also creates a platform for analytics, automation, and AI capabilities, providing a digital foundation for the company to advance these areas as its business continues to grow, thereby supporting the business for years into the future.

“As a state-owned enterprise entrusted with advancing Indonesia’s geothermal future, we need systems that are as forward-looking as our mission. For Geo Dipa, this transformation is about more than technology, it’s about running our operations smarter so we can deliver geothermal energy more efficiently and reliably for Indonesia,” said Yudistian Yunis, President Director, PT Geo Dipa Energi (Persero). “RISE with SAP gives us a modern, data-driven foundation to make better decisions and keep our costs under control as we grow”.

“As organisations navigate increasingly complex operating environments, particularly in the energy sector, a modern digital core becomes essential to improving agility and resilience,” said Sianto Wongjoyo, Managing Director, SAP Indonesia. “By adopting SAP Cloud ERP through RISE with SAP, Geo Dipa Energi is connecting business processes and data to improve decision-making, while advancing toward an autonomous enterprise, where integrated data, AI, and automation enable more adaptive and intelligent operations across the organisation.

• Region: North America
• Topics: Geothermal
• Date: 25th June 2026

Baker Hughes and Mantle Reach Power have signed a strategic agreement aimed at accelerating the deployment of large-scale geothermal energy projects across North America, with plans targeting up to 500 MW of installed capacity over the next five years.

The collaboration brings together Baker Hughes’ energy technology portfolio and Mantle Reach Power’s geothermal development expertise, supported by EnCap Energy Transition Fund III.

The companies say the agreement is designed to address longstanding challenges that have limited geothermal’s growth, particularly around project financing, risk allocation and pre-construction bankability.

It also reflects mounting interest in the geothermal space among the major traditional oil and gas service industry giants.

Under the arrangement, Baker Hughes will serve as an integrated subsurface solutions provider, while Mantle Reach Power will lead project development, ownership and financing.

The partners believe the model will help streamline project execution and create a repeatable framework for scaling geothermal energy deployment.

Lorenzo Simonelli, Chairman and CEO of Baker Hughes, said the agreement represents a significant step forward for the sector.

“Geothermal is a clean power solution that is proving to be a vital contributor to advancing sustainable energy development, with incredible potential to enhance U.S. energy security, support digital infrastructure, and ensure energy remains accessible and affordable,” he said.

“Today’s announcement celebrates the commercial architecture the industry has been missing: a repeatable, financeable model that can be deployed at the speed and scale to meet global energy demands.”

The agreement comes amid growing demand for reliable, around-the-clock power driven by electrification, artificial intelligence and hyperscale computing.

The companies believe geothermal energy is well placed to provide clean, firm baseload power to support these and other emerging needs.

As projects advance, Baker Hughes expects to provide a range of subsurface technologies, surface power generation systems and digital solutions intended to reduce development risk and support the delivery of geothermal power at an industrial scale.

Tim Rebhorn, Managing Partner at EnCap Energy Transition, said the partnership also tackles key barriers that have historically constrained investment in geothermal projects.

“By aligning development capital, project finance expertise and world-class technology, this collaboration addresses the fundamental challenges that have prevented large amounts of private capital from participating in geothermal deployment,” he said.

Nick Karambelas, CEO of Mantle Reach Power, added that the structure would help unlock conventional project financing and support the company's own expansion as an independent power producer.

“Integrating Baker Hughes’ subsurface-to-surface expertise with our capabilities in project development, finance and execution positions Mantle Reach Power to commercialise geothermal assets at scale,” said Karambelas.

• Region: Europe
• Topics: Geothermal
• Date: 24th June 2026

Europe must adopt a more coordinated approach to managing its underground resources if it is to unlock the full potential of geothermal energy and meet growing demands for the energy transition, according to a new position paper published by EuroGeoSurveys, a not-for-profit representing the continent's Geological Surveys.

• Date: 23rd June 2026

Gradient Geothermal, a leader in modular geothermal power and thermal management solutions, has teamed up with T5 Smackover Partners to advance integrated geothermal and lithium production in East Texas by providing its patented HXC Geothermal System for T5's phase one integrated geothermal project.

T5 Smackover Partners is a vertically integrated energy company in the Texas Smackover region — a resource basin with some of the highest brine reservoir temperatures and mineral concentrations in the Americas. Its mission is to expand geothermal baseload energy projects production and clean lithium extraction.

The collaboration brings together Gradient's modular geothermal technology and T5 Smackover Partners' integrated approach to developing geothermal energy from the Smackover Formation's geothermal brines.
Gradient's HXC Geothermal System will utilise the thermal energy contained in the project's produced working fluid brine, providing an integrated solution that supports both heat management and geothermal power generation. By combining geothermal power technology with direct lithium extraction, the project represents a new model for producing critical minerals while producing baseload electrons and reducing the development's overall environmental footprint, delivering reliable energy, strengthening U.S. critical-mineral supply chains and creating economic value for East Texas communities.

"This project demonstrates what is possible when geothermal energy, geothermal brines, and critical-mineral production are designed as one integrated system," said Ben Burke, Chief Executive Officer of Gradient Geothermal. "T5 is developing an innovative energy project, and we are proud that Gradient's HXC technology will help convert the Smackover's substantial subsurface heat into a productive baseload energy resource."

"We believe the future of the Smackover is about maximizing the value of the geothermal brine it can produce," said Cole Fisher, President and Co-Founder of T5 Smackover Partners. "By integrating Gradient's modular geothermal technology alongside our phase one production, we're creating a more efficient project that generates both baseload electricity from the same resource. This is exactly the type of innovation needed to strengthen domestic supply chains and establish East Texas as a leader in the next generation of geothermal energy."