Top list · Worldwide
Geothermal energy startups worldwide
22 geothermal energy startups worldwide have raised money in rounds we track. These are the 22 that have raised the most, $1.9B between them, with the United States the most common home.
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Fervo EnergyFervo Energy develops clean energy technology to generate carbon-free energy from geothermal systems.Fervo Energy develops clean energy technology to generate carbon-free energy from geothermal systems.
Founded 2017Houston, United States$1.1Blast round Sept 2026 - 2
Quaise EnergyQuaise Energy is a technology company founded in 2018, originating from the MIT Plasma Science and Fusion Center.Quaise Energy is a technology company founded in 2018, originating from the MIT Plasma Science and Fusion Center.
Founded 2018Houston, United States$180Mlast round Sept 2026 - 3
Mazama EnergyMazama Energy is a geothermal developer founded in March 2023 and based in Frisco, Texas, with a corporate office in Plano.Mazama Energy is a geothermal developer founded in March 2023 and based in Frisco, Texas, with a corporate office in Plano.
Founded 2023Frisco, United States$171Mlast round Sept 2026 - 4
ZanskarZanskar is an AI-native geothermal energy company based in Salt Lake City, Utah, founded in 2019.Zanskar is an AI-native geothermal energy company based in Salt Lake City, Utah, founded in 2019.
Founded 2021Salt Lake City, United States$155Mlast round Sept 2026 - 5
Ram PowerRam Power is a renewable energy company engaged in the acquisition, development and operation of geothermal properties.Ram Power is a renewable energy company engaged in the acquisition, development and operation of geothermal properties.
Founded 1984Reno, Canada$77Mlast round Dec 2009 - 6
Dandelion EnergyDandelion Energy is a leading residential geothermal company based in Mount Kisco, New York.Dandelion Energy is a leading residential geothermal company based in Mount Kisco, New York.
Founded 2017Mount Kisco, United States$56Mlast round Jul 2026 - 7
GA DrillingGA Drilling is developing a groundbreaking drilling technology PLASMABIT that enables revolution in geothermal energy, massive cost savings.GA Drilling is developing a groundbreaking drilling technology PLASMABIT that enables revolution in geothermal energy, massive cost savings.
Founded 2008Bratislava, Slovakia$45Mlast round Jul 2025 - 8
Hephae Energy TechnologyHephae Energy Technology is a Houston-based alternative energy company founded in 2020.Hephae Energy Technology is a Houston-based alternative energy company founded in 2020.
Founded 2020Spring, United States$24Mlast round Jul 2026 - 9
RendescoRendesco's mission is to transform the heating business by creating geothermal networks using ground-source heat pump technology.Rendesco's mission is to transform the heating business by creating geothermal networks using ground-source heat pump technology.
Founded 2012London, United Kingdom$21Mlast round Apr 2026 - 10
Critical EnergyCritical Energy is a clean energy startup based in Los Angeles, founded in 2024 by Spencer Jackson, a former SpaceX engineer.Critical Energy is a clean energy startup based in Los Angeles, founded in 2024 by Spencer Jackson, a former SpaceX engineer.
Founded 2024Hawthorne, United States$19Mlast round Jun 2026 - 11
Foro EnergyForo Energy is a technology company based in Houston, Texas, founded in 2009.Foro Energy is a technology company based in Houston, Texas, founded in 2009.
Founded 2009Houston, United States$17Mlast round Dec 2012 - 12
Darcy SolutionsDarcy Solutions is a renewable energy equipment manufacturer and geothermal technology company founded in 2018.Darcy Solutions is a renewable energy equipment manufacturer and geothermal technology company founded in 2018.
Founded 2018New Brighton, United States$15Mlast round Aug 2026 - 13
Baseload CapitalBaseload Capital leads partnerships to scale up geothermal energy: a 24/7 available source of clean power and heat.Baseload Capital leads partnerships to scale up geothermal energy: a 24/7 available source of clean power and heat.
Founded 2018Stockholm, Sweden$13Mlast round Apr 2025 - 14
Bedrock EnergyBedrock Energy is a clean-tech company based in Austin, Texas, founded in 2022.Bedrock Energy is a clean-tech company based in Austin, Texas, founded in 2022.
Founded 2022Austin, United States$12Mlast round Jan 2025 - 15
Factor2 EnergyFactor2 Energy is a climate-tech company based in Duisburg, Germany, focused on developing CO2-based geothermal power systems.Factor2 Energy is a climate-tech company based in Duisburg, Germany, focused on developing CO2-based geothermal power systems.
Founded 2025Duisburg, Germany$9.1Mlast round Sept 2025 - 16
Mantle EnergyMantle Energy develops activated geothermal systems that repurpose depleted wells to generate low-carbon baseload power.Mantle Energy develops activated geothermal systems that repurpose depleted wells to generate low-carbon baseload power.
Founded -Dallas, United States$5.0Mlast round Jun 2026 - 17
TeluraTelura is a deep-tech company based in Munich, Germany, specializing in geothermal energy through innovative drilling technology.Telura is a deep-tech company based in Munich, Germany, specializing in geothermal energy through innovative drilling technology.
Founded 2025Austell, Germany$4.7Mlast round Oct 2025 - 18
BoroboticsBorobotics is a manufacturing company that offers autonomous drilling robot intended for geothermal drilling.Borobotics is a manufacturing company that offers autonomous drilling robot intended for geothermal drilling.
Founded -Winterthur, Switzerland$4.5Mlast round Jul 2026 - 19
ClimeonClimeon is a clean-tech vendor that produces heat power systems, converting waste heat, and geothermal heat into clean electricity.Climeon is a clean-tech vendor that produces heat power systems, converting waste heat, and geothermal heat into clean electricity.
Founded 2011Stockholm, Sweden$3.1Mlast round May 2025 - 20
Canopus Drilling SolutionsCanopus Drilling Solutions is a Dutch startup based in The Hague, founded in 2019.Canopus Drilling Solutions is a Dutch startup based in The Hague, founded in 2019.
Founded 2019Delft, Netherlands$2.6Mlast round Sept 2022 - 21
Transitional EnergyTransitional Energy brings geothermal technology to the oil and gas industry to generate clean, baseload power from heat waste.Transitional Energy brings geothermal technology to the oil and gas industry to generate clean, baseload power from heat waste.
Founded 2020Aurora, United States$2.5Mlast round Jan 2022 - 22
GreenFire EnergyGreenFire Energy delivers geothermal solutions that assure the availability of reliable, resilient, and scalable geothermal energy.GreenFire Energy delivers geothermal solutions that assure the availability of reliable, resilient, and scalable geothermal energy.
Founded 2014Walnut Creek, United States$525Klast round Jun 2015
Houston, United States
Reno, Canada
Bratislava, Slovakia
London, United Kingdom
Stockholm, Sweden
Duisburg, Germany
Winterthur, Switzerland
Delft, NetherlandsCompanies whose own description names this theme, ranked by the total they have raised in rounds we hold. Nobody pays to be on a list.
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