# Top 22 Geothermal Energy Startups Worldwide by Funding (2026)

> The 22 best-funded geothermal energy startups worldwide, ranked by total funding raised: $1.9B combined.

Source: https://millionrounds.com/top-lists/geothermal-energy-startups (Millionrounds; every figure on the page links to its filing or article)

- 1 [**Fervo Energy** Fervo Energy develops clean energy technology to generate carbon-free energy from geothermal systems.](https://millionrounds.com/company/fervo-energy) Fervo Energy develops clean energy technology to generate carbon-free energy from geothermal systems. *Founded* 2017 Houston, United States **$1.1B** last round Sept 2026
- 2 [**Quaise Energy** Quaise Energy is a technology company founded in 2018, originating from the MIT Plasma Science and Fusion Center.](https://millionrounds.com/company/quaise-energy) Quaise Energy is a technology company founded in 2018, originating from the MIT Plasma Science and Fusion Center. *Founded* 2018 Houston, United States **$180M** last round Sept 2026
- 3 [**Mazama Energy** Mazama Energy is a geothermal developer founded in March 2023 and based in Frisco, Texas, with a corporate office in Plano.](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. *Founded* 2023 Frisco, United States **$171M** last round Sept 2026
- 4 [**Zanskar** Zanskar is an AI-native geothermal energy company based in Salt Lake City, Utah, founded in 2019.](https://millionrounds.com/company/zanskar) Zanskar is an AI-native geothermal energy company based in Salt Lake City, Utah, founded in 2019. *Founded* 2021 Salt Lake City, United States **$155M** last round Sept 2026
- 5 [**Ram Power** Ram Power is a renewable energy company engaged in the acquisition, development and operation of geothermal properties.](https://millionrounds.com/company/ram-power) Ram Power is a renewable energy company engaged in the acquisition, development and operation of geothermal properties. *Founded* 1984 Reno, Canada **$77M** last round Dec 2009
- 6 [**Dandelion Energy** Dandelion Energy is a leading residential geothermal company based in Mount Kisco, New York.](https://millionrounds.com/company/dandelion-energy) Dandelion Energy is a leading residential geothermal company based in Mount Kisco, New York. *Founded* 2017 Mount Kisco, United States **$56M** last round Jul 2026
- 7 [**GA Drilling** GA Drilling is developing a groundbreaking drilling technology PLASMABIT that enables revolution in geothermal energy, massive cost savings.](https://millionrounds.com/company/ga-drilling) GA Drilling is developing a groundbreaking drilling technology PLASMABIT that enables revolution in geothermal energy, massive cost savings. *Founded* 2008 Bratislava, Slovakia **$45M** last round Jul 2025
- 8 [**Hephae Energy Technology** Hephae Energy Technology is a Houston-based alternative energy company founded in 2020.](https://millionrounds.com/company/hephae-energy-technology) Hephae Energy Technology is a Houston-based alternative energy company founded in 2020. *Founded* 2020 Spring, United States **$24M** last round Jul 2026
- 9 [**Rendesco** Rendesco's mission is to transform the heating business by creating geothermal networks using ground-source heat pump technology.](https://millionrounds.com/company/rendesco) Rendesco's mission is to transform the heating business by creating geothermal networks using ground-source heat pump technology. *Founded* 2012 London, United Kingdom **$21M** last round Apr 2026
- 10 [**Critical Energy** Critical Energy is a clean energy startup based in Los Angeles, founded in 2024 by Spencer Jackson, a former SpaceX engineer.](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. *Founded* 2024 Hawthorne, United States **$19M** last round Jun 2026
- 11 [**Foro Energy** Foro Energy is a technology company based in Houston, Texas, founded in 2009.](https://millionrounds.com/company/foro-energy) Foro Energy is a technology company based in Houston, Texas, founded in 2009. *Founded* 2009 Houston, United States **$17M** last round Dec 2012
- 12 [**Darcy Solutions** Darcy Solutions is a renewable energy equipment manufacturer and geothermal technology company founded in 2018.](https://millionrounds.com/company/darcy-solutions) Darcy Solutions is a renewable energy equipment manufacturer and geothermal technology company founded in 2018. *Founded* 2018 New Brighton, United States **$15M** last round Aug 2026
- 13 [**Baseload Capital** Baseload Capital leads partnerships to scale up geothermal energy: a 24/7 available source of clean power and heat.](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. *Founded* 2018 Stockholm, Sweden **$13M** last round Apr 2025
- 14 [**Bedrock Energy** Bedrock Energy is a clean-tech company based in Austin, Texas, founded in 2022.](https://millionrounds.com/company/bedrock-energy) Bedrock Energy is a clean-tech company based in Austin, Texas, founded in 2022. *Founded* 2022 Austin, United States **$12M** last round Jan 2025
- 15 [**Factor2 Energy** Factor2 Energy is a climate-tech company based in Duisburg, Germany, focused on developing CO2-based geothermal power systems.](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. *Founded* 2025 Duisburg, Germany **$9.1M** last round Sept 2025
- 16 [**Mantle Energy** Mantle Energy develops activated geothermal systems that repurpose depleted wells to generate low-carbon baseload power.](https://millionrounds.com/company/mantle-energy) Mantle Energy develops activated geothermal systems that repurpose depleted wells to generate low-carbon baseload power. *Founded* - Dallas, United States **$5.0M** last round Jun 2026
- 17 [**Telura** Telura is a deep-tech company based in Munich, Germany, specializing in geothermal energy through innovative drilling technology.](https://millionrounds.com/company/telura) Telura is a deep-tech company based in Munich, Germany, specializing in geothermal energy through innovative drilling technology. *Founded* 2025 Austell, Germany **$4.7M** last round Oct 2025
- 18 [**Borobotics** Borobotics is a manufacturing company that offers autonomous drilling robot intended for geothermal drilling.](https://millionrounds.com/company/borobotics) Borobotics is a manufacturing company that offers autonomous drilling robot intended for geothermal drilling. *Founded* - Winterthur, Switzerland **$4.5M** last round Jul 2026
- 19 [**Climeon** Climeon is a clean-tech vendor that produces heat power systems, converting waste heat, and geothermal heat into clean electricity.](https://millionrounds.com/company/climeon) Climeon is a clean-tech vendor that produces heat power systems, converting waste heat, and geothermal heat into clean electricity. *Founded* 2011 Stockholm, Sweden **$3.1M** last round May 2025
- 20 [**Canopus Drilling Solutions** Canopus Drilling Solutions is a Dutch startup based in The Hague, founded in 2019.](https://millionrounds.com/company/canopus-drilling-solutions) Canopus Drilling Solutions is a Dutch startup based in The Hague, founded in 2019. *Founded* 2019 Delft, Netherlands **$2.6M** last round Sept 2022
- 21 [**Transitional Energy** Transitional Energy brings geothermal technology to the oil and gas industry to generate clean, baseload power from heat waste.](https://millionrounds.com/company/transitional-energy) Transitional Energy brings geothermal technology to the oil and gas industry to generate clean, baseload power from heat waste. *Founded* 2020 Aurora, United States **$2.5M** last round Jan 2022
- 22 [**GreenFire Energy** GreenFire Energy delivers geothermal solutions that assure the availability of reliable, resilient, and scalable geothermal energy.](https://millionrounds.com/company/greenfire-energy) GreenFire Energy delivers geothermal solutions that assure the availability of reliable, resilient, and scalable geothermal energy. *Founded* 2014 Walnut Creek, United States **$525K** last round Jun 2015

**Total funding** how the list is ranked

**15 November 2026** updated nightly

**Rounds we track** source: Millionrounds

Companies whose own description names this theme, ranked by the total they have raised in rounds we hold. Nobody pays to be on a list.

## Who backed them?

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## More lists worldwide

[See all](https://millionrounds.com/top-lists?r=Global)

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