# Geothermal Energy Market Map 2026: 23 Startups in 4 Segments > Market map of 23 geothermal energy startups worldwide in 4 segments, from geothermal power, geothermal heating and cooling and drilling and exploration on. Source: https://millionrounds.com/market-maps/geothermal-energy-market-map (Millionrounds; every figure on the page links to its filing or article) ## Geothermal power 11 - [Zanskar](https://millionrounds.com/company/zanskar) - [Ram Power](https://millionrounds.com/company/ram-power) - [Geothermal Engineering](https://millionrounds.com/company/geothermal-engineering) - [Critical Energy](https://millionrounds.com/company/critical-energy) - [Foro Energy](https://millionrounds.com/company/foro-energy) - [Baseload Capital](https://millionrounds.com/company/baseload-capital) - [Factor2 Energy](https://millionrounds.com/company/factor2-energy) - [Strataphy](https://millionrounds.com/company/strataphy) - [Mantle Energy](https://millionrounds.com/company/mantle-energy) - [Climeon](https://millionrounds.com/company/climeon) - [Transitional Energy](https://millionrounds.com/company/transitional-energy) ## Geothermal heating and cooling 5 - [Dandelion Energy](https://millionrounds.com/company/dandelion-energy) - [Rendesco](https://millionrounds.com/company/rendesco) - [Geothermal International](https://millionrounds.com/company/geothermal-international) - [Bedrock Energy](https://millionrounds.com/company/bedrock-energy) - [AgroNergy](https://millionrounds.com/company/agronergy) ## Drilling and exploration 4 - [GA Drilling](https://millionrounds.com/company/ga-drilling) - [Telura](https://millionrounds.com/company/telura) - [Borobotics](https://millionrounds.com/company/borobotics) - [Canopus Drilling Solutions](https://millionrounds.com/company/canopus-drilling-solutions) ## Enhanced and closed-loop geothermal 3 - [Quaise Energy](https://millionrounds.com/company/quaise-energy) - [Mazama Energy](https://millionrounds.com/company/mazama-energy) - [Hephae Energy Technology](https://millionrounds.com/company/hephae-energy-technology) ## Segment by segment ### Geothermal power 11 startups · $341M raised - [**Zanskar**](https://millionrounds.com/company/zanskar) Zanskar is an AI-native geothermal energy company based in Salt Lake City, Utah, founded in 2019. United States $155M - [**Ram Power**](https://millionrounds.com/company/ram-power) Ram Power is a renewable energy company engaged in the acquisition, development and operation of geothermal properties. Canada $77M - [**Geothermal Engineering**](https://millionrounds.com/company/geothermal-engineering) Geothermal Engineering is engaged in the development of deep geothermal heat and power projects. United Kingdom $35M - [**Critical Energy**](https://millionrounds.com/company/critical-energy) Critical Energy is a clean energy startup based in Los Angeles, founded in 2024 by Spencer Jackson, a former SpaceX engineer. United States $19M - [**Foro Energy**](https://millionrounds.com/company/foro-energy) Foro Energy is a technology company based in Houston, Texas, founded in 2009. United States $17M - [**Baseload Capital**](https://millionrounds.com/company/baseload-capital) Baseload Capital leads partnerships to scale up geothermal energy: a 24/7 available source of clean power and heat. Sweden $13M - [**Factor2 Energy**](https://millionrounds.com/company/factor2-energy) Factor2 Energy is a climate-tech company based in Duisburg, Germany, focused on developing CO2-based geothermal power systems. Germany $9.1M - [**Strataphy**](https://millionrounds.com/company/strataphy) Strataphy is a deep-tech geothermal cooling company based in Al Khobar, Saudi Arabia, founded in 2025. Saudi Arabia $6.0M ### Geothermal heating and cooling 5 startups · $110M raised - [**Dandelion Energy**](https://millionrounds.com/company/dandelion-energy) Dandelion Energy is a leading residential geothermal company based in Mount Kisco, New York. United States $56M - [**Rendesco**](https://millionrounds.com/company/rendesco) Rendesco's mission is to transform the heating business by creating geothermal networks using ground-source heat pump technology. United Kingdom $21M - [**Geothermal International**](https://millionrounds.com/company/geothermal-international) Geothermal International is involved in the design and installation of heating and cooling systems. United Kingdom $19M - [**Bedrock Energy**](https://millionrounds.com/company/bedrock-energy) Bedrock Energy is a clean-tech company based in Austin, Texas, founded in 2022. United States $12M - [**AgroNergy**](https://millionrounds.com/company/agronergy) AgroNergy is a French company founded in 2013, specializing in renewable heating solutions. France $2.4M ### Drilling and exploration 4 startups · $56M raised - [**GA Drilling**](https://millionrounds.com/company/ga-drilling) GA Drilling is developing a groundbreaking drilling technology PLASMABIT that enables revolution in geothermal energy, massive cost savings. Slovakia $45M - [**Telura**](https://millionrounds.com/company/telura) Telura is a deep-tech company based in Munich, Germany, specializing in geothermal energy through innovative drilling technology. Germany $4.7M - [**Borobotics**](https://millionrounds.com/company/borobotics) Borobotics is a manufacturing company that offers autonomous drilling robot intended for geothermal drilling. Switzerland $4.5M - [**Canopus Drilling Solutions**](https://millionrounds.com/company/canopus-drilling-solutions) Canopus Drilling Solutions is a Dutch startup based in The Hague, founded in 2019. Netherlands $2.6M ### Enhanced and closed-loop geothermal 3 startups · $375M raised - [**Quaise Energy**](https://millionrounds.com/company/quaise-energy) Quaise Energy is a technology company founded in 2018, originating from the MIT Plasma Science and Fusion Center. United States $180M - [**Mazama Energy**](https://millionrounds.com/company/mazama-energy) Mazama Energy is a geothermal developer founded in March 2023 and based in Frisco, Texas, with a corporate office in Plano. United States $171M - [**Hephae Energy Technology**](https://millionrounds.com/company/hephae-energy-technology) Hephae Energy Technology is a Houston-based alternative energy company founded in 2020. United States $24M **How this map is made.** Every startup here has raised money in rounds we track. It joins the map when its sectors, read from its rounds, or the opening of its own description say it works in geothermal energy, and goes to the first segment whose words it carries. Each segment shows its best-funded first. Rebuilt nightly; updated 15 November 2026. ## More market maps [All maps](https://millionrounds.com/market-maps) [Market map · Europe **Geothermal energy market map: Europe** 11 startups · 3 segments · $158M](https://millionrounds.com/market-maps/geothermal-energy-europe-market-map)[Market map **Marketing tech market map** 1,963 startups · 7 segments · $41B](https://millionrounds.com/market-maps/marketing-tech-market-map)[Market map **Fintech market map** 1,633 startups · 8 segments · $139B](https://millionrounds.com/market-maps/fintech-market-map)[Market map **Crypto and Web3 market map** 1,297 startups · 8 segments · $33B](https://millionrounds.com/market-maps/crypto-and-web3-market-map)[Market map **Food tech market map** 1,226 startups · 7 segments · $20B](https://millionrounds.com/market-maps/food-tech-market-map)[Market map **Edtech market map** 1,014 startups · 7 segments · $15B](https://millionrounds.com/market-maps/edtech-market-map) ## Who backs geothermal energy? Open any company for its rounds and investors, or search the investors behind these startups in the app, with filters, lists and exports. [Find their investors](https://millionrounds.com/login?join=1&next=/app/investors)[Top lists](https://millionrounds.com/top-lists)