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Top 22 Geothermal Energy startups
Sep 20, 2025 | By Alexander Gillet | 17 |
These startups extract energy from hot springs to produce heat and/or electric power
1
Country: USA | Funding: $991.6M
Fervo Energy commercializes proprietary technology to own, develop, and operate geothermal assets as the dispatchable foundation to a 100% clean energy future.
Fervo Energy commercializes proprietary technology to own, develop, and operate geothermal assets as the dispatchable foundation to a 100% clean energy future.
2
Country: Canada | Funding: $569.1M
Eavor's solution, Eavor-Loop, takes a traditional niche energy source (geothermal) and makes it scalable by removing the need for either volcanic-type temperature or permeable aquifers.
Eavor's solution, Eavor-Loop, takes a traditional niche energy source (geothermal) and makes it scalable by removing the need for either volcanic-type temperature or permeable aquifers.
3
Country: USA | Funding: $134.5M
Dandelion is an Alphabet spinout that develops geothermal heating, air-conditioning and cooling systems
Dandelion is an Alphabet spinout that develops geothermal heating, air-conditioning and cooling systems
4
Country: USA | Funding: $91M
Quaise is an energy company that develops a millimeter-wave drilling technology to access deep geothermal energy.
Quaise is an energy company that develops a millimeter-wave drilling technology to access deep geothermal energy.
5
Country: USA | Funding: $91M
Quaise is an energy company pioneering millimeter wave drilling technology to access deep geothermal energy.
Quaise is an energy company pioneering millimeter wave drilling technology to access deep geothermal energy.
6
Country: USA | Funding: $57M
XGS Energy is a geothermal heat harvesting technology company.
XGS Energy is a geothermal heat harvesting technology company.
7
Country: USA | Funding: $42.2M
Zanskar develops a predictive platform informed by massive data for discovering previously unknown geothermal resources.
Zanskar develops a predictive platform informed by massive data for discovering previously unknown geothermal resources.
8
Country: USA | Funding: $38M
A geothermal company that plumbs its boreholes with a closed loop
A geothermal company that plumbs its boreholes with a closed loop
9
Country: USA | Funding: $36.5M
AltaRock Energy focuses on the development of geothermal energy resources and Enhanced Geothermal Systems (EGS).
AltaRock Energy focuses on the development of geothermal energy resources and Enhanced Geothermal Systems (EGS).
10
Country: USA | Funding: $22.6M
GreenFire Energy develops and deploys innovative technology to unlock the world’s largest source of continuous renewable energy.
GreenFire Energy develops and deploys innovative technology to unlock the world’s largest source of continuous renewable energy.
11
Country: USA | Funding: $20.5M
Bedrock Energy develops drilling technology and advanced subsurface simulation software to enable geothermal heating and cooling.
Bedrock Energy develops drilling technology and advanced subsurface simulation software to enable geothermal heating and cooling.
12
Country: USA | Funding: $17M
Sage combines innovative approaches to heat harvesting with modern oilfield expertise and methodologies to enable geothermal energy anywhere in the world
Sage combines innovative approaches to heat harvesting with modern oilfield expertise and methodologies to enable geothermal energy anywhere in the world
13
Country: USA | Funding: $13.6M
ignis H2 Energy Inc is a Geothermal exploration and development company that mainly provides sustainable green energy.
ignis H2 Energy Inc is a Geothermal exploration and development company that mainly provides sustainable green energy.
14
Country: Canada | Funding: $5.8M
A deep-well advanced geothermal technology company and project developer, focusing on direct use opportunities.
A deep-well advanced geothermal technology company and project developer, focusing on direct use opportunities.
15
Country: Germany | Funding: €5.5M
Hades Mining is a modern mining firm that puts technology first. By accessing ultra-deep and stable heat reservoirs beneath the Earth’s crust, it unlocks geothermal energy at a new scale.
Hades Mining is a modern mining firm that puts technology first. By accessing ultra-deep and stable heat reservoirs beneath the Earth’s crust, it unlocks geothermal energy at a new scale.
16
Country: USA | Funding: $5M
Dig Energy produces purpose-built drilling technology to create highly efficient geothermal heating and cooling systems.
Dig Energy produces purpose-built drilling technology to create highly efficient geothermal heating and cooling systems.
17
Country: USA | Funding: $3.2M
Criterion Energy Partners is developing distributed energy projects to provide clean, reliable, always on energy using heat from the Earth
Criterion Energy Partners is developing distributed energy projects to provide clean, reliable, always on energy using heat from the Earth
19
Country: USA | Funding: $200K
Renascent Energy Management is a privately held, technology-focused energy firm that is looking at several geothermal technologies to implement in the US and abroad.
Renascent Energy Management is a privately held, technology-focused energy firm that is looking at several geothermal technologies to implement in the US and abroad.
20
Country: Denmark
Green Therma a pioneering geothermal tech company has developed an innovative deep geothermal-based closed loop heating solution “Heat4EverTM” offering indefinitely CO2-free, renewable energy once installed.
Green Therma a pioneering geothermal tech company has developed an innovative deep geothermal-based closed loop heating solution “Heat4EverTM” offering indefinitely CO2-free, renewable energy once installed.
