Latest News

• Date: 7th May 2026

Geothermal Engineering Limited (GEL), the UK’s leading developer of geothermal power and critical minerals extraction, has secured £10 million in financing from Dutch Bank ABN AMRO.

The funding will help fund both expansion of lithium production at GEL's United Downs plant and allow for preparation of further sites in Cornwall where the company already has planning permission. The backing of a major bank also enables GEL to start the process of raising significant capital for further expansion in the UK.

The United Downs deep geothermal power plant started power production in February 2026 and is the UK’s first integrated deep geothermal power and commercial-scale lithium production project. The first plant will deliver 3MWe of baseload electricity which is being sold via Octopus Energy to power around 10,000 UK homes.

The geothermal fluid at United Downs contains over 340 parts per million (ppm) of lithium making it one of the highest concentrations found in any well to date in the world. The team at GEL intends to use this financing to expand its direct lithium extraction (DLE) production from 100 tonnes of lithium carbonate per annum to close to 2,000 tonnes per annum by 2028/9. GEL is targeting production of over 18,000 tpa over the next decade from multiple sites in the UK.

GEL is also working on new and larger geothermal power projects across the county, and aims to produce a minimum of 25 MWe of renewable electricity across GEL’s portfolio over the next 10 years. It has further sites in Cornwall which have already received planning permission and are each anticipated to deliver at least 5 MWe of baseload power which is enough to power around 70,000 UK homes. The financing from ABN AMRO will also be used to start preparing these sites for drilling.

GEL has also received funding from Thrive Renewables plc, Kerogen Capital, the European Regional Development Fund and Cornwall Council.

Industry Minister Chris McDonald said: “We need critical minerals for everything, from the phones we use to the cars we drive, and this £10m boost for GEL is not only vital for ramping up domestic lithium production and creating local jobs, but a big step forward for geothermal power production in the UK."

Ryan Law, CEO of GEL, said: “Following the switch on of the UK’s first geothermal power and commercial-scale lithium production last month, this represents a cornerstone financing to help GEL realise our geothermal and critical minerals ambitions in the UK. It is exciting to have a partnership with ABN AMRO, with their experience of financing other European geothermal lithium projects.

“At a time of significant instability in global energy and mineral supplies, it is essential we start to realise the UK potential of 24/7 geothermal power and critical mineral production. GEL now represents a huge opportunity for both investors and government to get involved and help the sector to expand.”

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

The Organisation of Eastern Caribbean States Commission has successfully concluded a strategic technical mission to Europe in a move to strengthen geothermal partnerships.

• Region: Europe
• Topics: Geothermal
• Date: 5th May 2026

From May 2026, the European Commission will start building an EU-level geothermal database to gather detailed geological data and develop geothermal de-risking and insurance schemes to unlock private capital.

The update was highlighted in a recent insight article by law firm Linklaters and marks a significant boost in the promotion of geothermal energy across the continent.

It follows the release of the Commission’s AccelerateEU paper in late April, setting out a response to the energy implications of the conflict in the Middle East and the closure of the Strait of Hormuz.

The paper lays out other wide-ranging upcoming initiatives aimed at addressing soaring energy costs and safeguarding Europe’s energy security and competitiveness.

As well as short-term moves to mitigate the impact of the crisis, it highlights structural longer-term measures aimed at reducing dependency on fossil fuels and nurturing European resilience through clean energy, including geothermal, and electrification.

“In parallel, the Commission will continue supporting initiatives on solar thermal, biomethane and hydrogen, including a targeted review of the production criteria for renewable hydrogen, while safeguarding existing investments,” the Linklaters article noted.

The Commission intends to publish, by summer 2026, an Electrification Action Plan including a new electrification target, plus initiatives to increase the uptake of geothermal, biomethane and renewable hydrogen.

It will also includes measures addressing barriers for the electrification of the industrial, transport and building sectors, and the phasing out of fossil fuel subsidies.

Announcing its intentions on 22 April, the Commission said that it would support member states and stakeholders “in gathering detailed geological data”, for the creation of an EU-level database.“

The Commission will also explore supporting the establishment of geothermal derisking schemes and insurance schemes together with public financiers, including national promotional banks, to derisk investment and further mobilise private capital,” the statement added.

This could include support for geothermal energy projects beyond the EU’s borders.

“Under the Global Gateway initiative, the Commission is committed to promote, inter alia, international cooperation on geothermal energy projects where relevant.”

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

The Bureau of Land Management has approved a categorical exclusion to make it easier to explore geothermal energy on public lands, allowing small-scale exploration projects to move forward with less red tape.

• Region: North America
• Topics: Geothermal
• Date: 29th April 2026

Eavor Technologies has been recognised at a recent industry awards ceremony for its work in pushing geothermal energy in Canada.

• Region: Europe
• Topics: Geothermal
• Date: 29th April 2026

A new study from consulting firm Prognos, commissioned by the German Geothermal Association (BVG), the Bavarian Geothermal Association, and the German Heat Pump Association (BWP), finds that geothermal heat pumps are the most cost competitive solution for heating single-family and multi-family homes.

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

Baker Hughes reiterated its geothermal ambitions in its Q1 2026 results, announced on 23 April, following its involvement in XGS Energy’s New Mexico project.

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

Star Energy has signed an agreement for the sale of its Croatian subsidiary IGeoPen to Enna Geo, with the subsidiary holding three Croatian geothermal exploration licenses: Ernestinovo, Sjece and Pcelic.

• Region: North America
• Topics: Geothermal
• Date: 24th April 2026

The US House of Representatives passed the Harnessing Energy At Thermal Sources (HEATS) Act, to expand domestic energy production, cut red tape and secure energy supply chains.

• Region: Europe
• Topics: Geothermal
• Date: 22nd April 2026

Siemens and Vulcan Energy are collaborating to advance the Lionheart lithium and renewable energy project in Germany’s Upper Rhine Valley, Europe's first fully integrated lithium and renewable energy project.
Vulcan Energy has also designated Siemens its preferred supplier of automation and digitalisation technology until 2035.

Backed by the European Investment Bank (EIB), Vulcan’s integrated lithium and renewable energy project adapts existing, commercially proven technology to produce battery-quality lithium from geothermal subsurface brine in the Upper Rhine Valley, to deliver a local source of sustainable lithium for the European battery industry, while generating renewable energy and heat for local communities.

Lionheart targets production capacity of 24,000 tons of lithium hydroxide monohydrate (LHM), enough for around 500,000 electric vehicle batteries per annum, with a co-product of 275 GWh of renewable power and 560 GWh of heat per annum for local consumers, over an estimated 30-year project life.

Siemens will provide comprehensive automation and digitalisation capabilities through the delievery of end-to-end project solutions from its Xcelerator portfolio – including advanced instrumentation, distributed control systems, digital twin technology, industrial network, IT security and analytics that will enable integrated operations from resource extraction to final production. Siemens will also provide smart infrastructure solutions from across its buildings portfolio. The company is addionally investing in the Lionheart project.

“As both a strategic investor and a key technology partner, we are helping Vulcan Energy establish Europe’s first major sustainable source of lithium,” said Roland Busch, President and CEO of Siemens AG. “With our technology – from advanced automation and digitalisation to smart building solutions – we help to ramp-up production faster. This is essential to create a local lithium supply for our energy transition and a more competitive, resilient and sustainable European industry. It is a powerful example of strengthening growth and competitiveness in line with the Made for Germany initiative.”

“This partnership is an important step in unlocking future opportunities for growth, as we progress toward our goal of decarbonising Europe’s battery supply chain,” commented Cris Moreno, Vulcan’s Managing Director and CEO.

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

The Colorado Energy Office (CEO) has announced US$12.4mn in funding has been awarded to seven geothermal projects across the state to help support cleaner heating and cooling and electricity development.

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

EIG has announced the initial closing of EIG Geothermal Catalyst Partners, a development fund focused on investments supporting next-generation geothermal projects in the USA.