Top 17 Geothermal Energy startups in USA
Jan 30, 2026
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17
1
Funding: $157.2M
Zanskar specializes in exploration and development of geothermal energy sources. It has developed AI platform for searching for geothermal deposits and constructs power plants at discovered sources. The company uses modern drilling and computational geophysics technologies to discover new resources, de-risk known resources, and mitigate the risk of "dry holes." Zanskar addresses key challenges hindering the rapid expansion of geothermal energy by reducing exploration costs and increasing the size of each geothermal deposit. Zanskar currently holds the industry's largest portfolio of conventional geothermal development projects across the western United States. For example, in 2024, Zanskar acquired the Lightning Dock geothermal power plant, which had been operating at low capacity for several years. In less than a year, Zanskar restored the plant to full capacity and is now supplying power to the grid after discovering and drilling in a deeper, hotter zone.
Zanskar specializes in exploration and development of geothermal energy sources. It has developed AI platform for searching for geothermal deposits and constructs power plants at discovered sources. The company uses modern drilling and computational geophysics technologies to discover new resources, de-risk known resources, and mitigate the risk of "dry holes." Zanskar addresses key challenges hindering the rapid expansion of geothermal energy by reducing exploration costs and increasing the size of each geothermal deposit. Zanskar currently holds the industry's largest portfolio of conventional geothermal development projects across the western United States. For example, in 2024, Zanskar acquired the Lightning Dock geothermal power plant, which had been operating at low capacity for several years. In less than a year, Zanskar restored the plant to full capacity and is now supplying power to the grid after discovering and drilling in a deeper, hotter zone.
2
Funding: $1.5B
Fervo Energy is developing proprietary technology for developing and operating geothermal assets. Like its main competitors, Fervo uses hydraulic fracturing and directional drilling techniques borrowed from the oil and gas industry. However, Fervo can drill faster and deeper than existing geothermal developers to exploit hotter rocks and generate more energy at a lower cost. The startup is completing construction of its first large-scale power plant and has begun developing several other sites in the western US, where hot rocks are closer to the surface. Among its key investors is Google, which views geothermal energy as a potential solution for its data centers.
Fervo Energy is developing proprietary technology for developing and operating geothermal assets. Like its main competitors, Fervo uses hydraulic fracturing and directional drilling techniques borrowed from the oil and gas industry. However, Fervo can drill faster and deeper than existing geothermal developers to exploit hotter rocks and generate more energy at a lower cost. The startup is completing construction of its first large-scale power plant and has begun developing several other sites in the western US, where hot rocks are closer to the surface. Among its key investors is Google, which views geothermal energy as a potential solution for its data centers.
3
Funding: $174.5M
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
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
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.
8
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).
9
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.
10
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.
11
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
12
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.
13
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.
14
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
15
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.
17
Mazama Energy is a geothermal operator and development firm committed to developing new techniques and technology for removing heat.
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