Latest News

• Region: North America
• Topics: Geothermal
• Date: 11 Apr, 2025

North Dakota recently passed a bill aimed at mandating a feasibility study on geothermal energy development in the state.

• Region: Europe
• Topics: Geothermal
• Date: 10 April, 2025

The University of York has unveiled a pioneering geothermal energy project, supported by £35 million in funding from the Department for Energy Security and Net Zero.

• 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: Asia Pacific
• Topics: Geothermal
• Date: 8 April, 2025

A rapid increase in investment in renewable energy projects in Asia has led to the geothermal power market growth in the region.

• Region: Europe
• Topics: Geothermal
• Date: 7 April 2025

France’s Arverne Group is anticipating big things this coming year, according to Pierre Brossollet, its founder and CEO.

• 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: Europe
• Topics: Geothermal
• Date: 2 April, 2025

Non-for-profit organisation Project InnerSpace has launched a new effort to catalyse development of geothermal heating and power in the UK.

• Region: All
• Topics: Geothermal
• Date: 31 March, 2025

The International Geothermal Association (IGA) and the International Association of Drilling Contractors (IADC) have signed a MoU to formalise their efforts in driving the global geothermal industry forward.

• Region: Europe
• Topics: Geothermal
• Date: 31 March, 2025

Star Energy has signed an MoU with Bring Energy to explore the integration of geothermal energy into Southampton’s city centre.

• 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: Asia Pacific
• Topics: Geothermal
• Date: 27 March, 2025

PT Pertamina Geothermal Energy Tbk (PGE) has recorded a positive financial year through 2024 where the company reported revenues of US$407.12mn in line with the increasing demand for clean energy in Indonesia.