Latest News

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

Tekcapital Plc, the UK intellectual property investment group, has announced the formation of its fifth portfolio company Vesari Inc, a new U.S. incorporated company (Vesari.ai) set up to acquire, develop and commercialise generative AI intellectual property in the field of geothermal-powered hyperscale data centres.

• Region: Europe
• Topics: Geothermal
• Date: 28th May 2026

Syntholene Energy Corp. has announced that the construction of its geothermal-integrated synthetic fuel demonstration facility in Húsavík, Iceland, is ahead of schedule, with first operations now penned as early as next month

• Region: Europe
• Topics: Geothermal
• Date: 27th May 2026

The Urban Vibro Truck is a seismic survey vehicle developed specifically for urban environments and one that could play a key role in the evolution of geothermal energy in Europe.

The truck, built by Herrenknecht AG, picked up the Ruggero Bertani European Geothermal Innovation Award 2026 from the European Geothermal Energy Council (EGEC) earlier this year at the European Geothermal Innovation Awards.

These awards recognise companies that make outstanding contributions to advancing geothermal energy in Europe. 

Herrenknecht’s Urban Vibro Truck is a vehicle that is specifically designed for carrying out seismic surveys in towns and cities.

Its significantly reduced noise emissions enable surveys to be carried out during the night while minimising impacts on local residents.

The vehicle also has EU road approval as a tractor, which can reduce permitting requirements for seismic survey activities.

Speaking after the awards, which took place in Germany in February, Daniel Jaskulski, Division Manager – New Applications, Herrenknecht AG, said the vehicle is already working hard collecting data.

“We didn’t just build a nice vehicle that looks good, we have built a very functional vehicle which can make a real difference for the geothermal sector because now we can conduct seismic surveys much faster and also with better quality, and this is the most important thing,” he said.

The first Urban Vibro Truck was built as a scientific test vehicle, supported by the German Federal Ministry for Economic Affairs and Climate Action, with additional trucks now in production.

“We already have one truck that can carry out surveys in towns and cities, and our goal is to have 10 of our Urban Vibro Trucks on the market by the end of 2026,” said Jaskulski.

The Ruggero Bertani European Geothermal Innovation Award is given to companies which have made an outstanding contribution towards the field of geothermal energy in the form of innovative products, scientific research or project initiatives.

• Region: Europe
• Topics: Geothermal
• Date: 26th May 2026

French geothermal group Arverne has announced the successful completion of a new major financing step for its subsidiary Lithium de France, alongside its partner Equinor Ventures AS.

The move supports the advance of Lithium de France’s pre-industrial phase, covering drilling activities, the DLE demonstration plant and Front-End Engineering Design (FEED), a key component of the Definitive Feasibility Study (DFS), according to an Arverne statement.

The project targets annual production of 27,000 tonnes of lithium carbonate, to equip nearly 800,000 electric vehicles, while delivering 2.2 TWh of geothermal heat to businesses, farmers and local authorities in Northern Alsace.

The new financing takes the form of a convertible note of up to €33mn, maturing on 30 June 2027, with Arverne and Equinor Ventures AS both participating at their pro rata share.

Upon completion of a qualifying financing of €50mn, the principal amount and accrued and uncapitalised interest will be converted to Lithium de France shares.Pierre Brossollet, Arverne’s founder and CEO of Arverne, said it marks a significant step in the execution of the company’s so-called ‘Dual Flow’ strategic plan and underscores the continued confidence of our long-standing partner Equinor ventures.

“Recognised by the French State as one of the 150 Major Strategic Projects, Lithium de France stands out as one of the most promising industrial developments in geothermal heat and lithium in Europe, combining competitiveness with the energy transition,” he said.

Katherine Peachey, head of Equinor Ventures, said this latest financing reflects the company’s continued support for Lithium de France.

“Equinor Ventures, a shareholder in Lithium de France since 2021, reaffirms its confidence in the company, its management team and its development plans to deliver sustainable, low-carbon lithium and geothermal heat production in Europe.”

• Region: North America
• Topics: Geothermal
• Date: 21st May 2026

XGS Energy has announced the appointment of Richard Chong as Chief Financial Officer, bringing over 25 years of energy finance experience to the role.

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

Energy services giant Baker Hughes has teamed up with Helmerich & Payne, Inc. (H&P), a provider of drilling solutions and technologies, to explore opportunties in geothermal.

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

The USA produced nearly three times as much solar, wind and geothermal power in 2025 – around 20% of the nation’s power – as it did in 2016, with overall growth in 49 states.

• Region: Europe
• Topics: Geothermal
• Date: 14th May 2026

Cindrigo Holdings has secured expanded eligibility for German government support across its geothermal licence portfolio under the Federal Funding for Efficient Heat Networks (BEW) programme administered by BAFA.

• Date: 12th May 2026

Next-generation geothermal solutions in Europe are set to be given a boost with a new collaboration between Tenaris and Green Therma, a Denmark-based developer of closed-loop geothermal systems.

• Region: North America
• Topics: Geothermal
• Date: 12th May 2026

Nevada-based geothermal developer Zanskar has signed a 20-year power purchase agreement (PPA) with NV Energy to supply 100 megawatts of carbon-free electricity by 2030, marking a major expansion of geothermal energy generation in the state.

• Region: Australia
• Topics: Geothermal
• Date: 8th May 2026

Singapore's Energy Market Authority (EMA) has issued a Request for Proposal (RFP) for a comprehensive study to assess the feasibility of deploying geothermal energy systems in Singapore.

The study of geothermal energy is part of EMA’s efforts to pursue pathways that can strengthen Singapore’s energy resilience and decarbonise its power sector.

While Singapore lacks the conventional geothermal energy resources commonly found in geolocally active regions such as volcanic zones,  recent global advances in geothermal technologies have created new opportunities to harness sub-surface heat for power, heating and cooling needs. The feasibility study will thus assess the technical, environmental, and commercial feasibility of deploying next-generation geothermal systems in Singapore. The appointed consultant will also be tasked to identify areas for further study and propose policy frameworks for potential geothermal projects.

 The feasibility study builds on the ongoing nationwide non-invasive geophysical survey commissioned by EMA in 2024 to identify areas in Singapore where geothermal energy might potentially be present. Together, the nationwide geophysical survey and feasibility study aim to provide a robust and holistic evaluation of Singapore’s geothermal energy potential. This will provide the Government with a basis to decide on the next steps in the pursuit of geothermal energy systems in Singapore.

The consultant for the feasibility study is expected to be appointed in 2026. The duration of the study will depend on the proposal submitted by the appointed consultant, as well as the scope and complexity of work required.

The deadline for submission of proposals is 29 June 2026, 4pm (Singapore time). More details on the RFP are available on the EMA's website at www.ema.gov.sg.

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

Fervo Energy has launched an investor roadshow ahead of its upcoming initial public offering (IPO) on the Nasdaq market that it hopes will value the company at up to US$6.5bn.

It hopes to tap into improved sentiment for clean energy firms, including geothermal, with plans to to raise up to US$1.3bn in the IPO by offering 55.6 million shares priced ​between US$21 and US$24 apiece.

In a filing with the US Securities and Exchange Commission on May 4, 2026, the company stated that Fervo Energy is positioned to become the “next great American energy company”.

In his introduction, Tim Latimer, CEO, said Fervo Energy is working to build a different type of energy company — one that treats each geothermal power facility as a repeatable product, not a one-off, complicated project.

“We intend to deliver power in standardised, 50-megawatt ORC units, relentlessly reducing complexity with every well drilled and every turbine installed,” he noted.

“With few locational constraints on our subsurface operations, we can develop sites to multi-gigawatt sites, harnessing learning curves to drive continuous improvement and make geothermal cheaper than it has ever been.”

The group also hopes to tap into interest in the alternative energy space driven by the rapid growth in AI data centres.

The Houston-based company’s first utility-scale deployment in the Cape Station site will provide a baseline for its core product, he added.

“We expect that each power unit built thereafter will improve on this baseline by using learnings to streamline engineering design.”

The progress of the IPO is set to be keenly tracked by other geothermal energy companies as the industry gains greater exposure and key test of investor appetite.

“American economic dynamism has long depended on reliable energy,” said Latimer. “The reliable energy of our time is next-generation geothermal.”

JP Morgan, BofA Securities, RBC Capital Markets, and Barclays are acting as joint lead bookrunning managers for the proposed IPO.

Baird, BBVA, Guggenheim Securities, MUFG, Societe Generale, William Blair, Piper Sandler, and Wolfe | Nomura Alliance are acting as additional bookrunners.