# ignis H2 Energy Inc.

> ignis H2 Energy is a Houston-based geothermal exploration and development company that applies oil-and-gas subsurface expertise, AI/ML prospecting and a technology-agnostic approach to find, prove and produce always-on geothermal power. Founded in 2021 by former Goldman Sachs banker Richard Calleri, the company is building a globally diversified, risk-balanced portfolio of geothermal projects across Turkey, the Western U.S. and Alaska, aiming for one gigawatt of documented producible reserves by 2030. It closed a $13.6M Series A round in June 2025.

- **Founded:** 2021
- **Headquarters:** Houston, Texas, United States
- **Founders:** Richard Calleri (Founder & CEO)
- **Team size:** ~16 employees
- **Products:** Geothermal exploration & resource assessment, Project de-risking & development, Technology-agnostic power projects, Region-first partnerships & offtake
- **Notable:** Closed a $13.6M Series A round (final close June 2025), up from a $12.5M first close in February 2025., Drilled first temperature-gradient well in Eastern Anatolia, Türkiye (Q4 2024), confirming reservoir temperatures and artesian flow., Assembled a leadership, board and advisory bench representing 300+ years of oil & gas and 200+ years of geothermal experience.

## Products & services

- **Geothermal exploration & resource assessment** — AI/ML and computer-vision prospecting combined with geoscience and oil & gas subsurface expertise to locate and quantify high-value geothermal resources.
- **Project de-risking & development** — Stage-gated development from temperature-gradient wells to deep confirmation wells, de-risking reservoirs before capital-intensive build-out.
- **Technology-agnostic power projects** — Matches each site to the optimal solution - hydrothermal, closed-loop/AGS or Enhanced Geothermal Systems (EGS) - to deliver baseload power for data centers, industry and grids.
- **Region-first partnerships & offtake** — Regional joint ventures (e.g. GeoAlaska) plus offtake agreements with utility, mining and data-center buyers.

## Achievements

- Closed a $13.6M Series A round (final close June 2025), up from a $12.5M first close in February 2025.
- Drilled first temperature-gradient well in Eastern Anatolia, Türkiye (Q4 2024), confirming reservoir temperatures and artesian flow.
- Assembled a leadership, board and advisory bench representing 300+ years of oil & gas and 200+ years of geothermal experience.
- Secured exploration positions across Turkey, Nevada, Utah, Alaska and other basins.
- Signed three offtake Letters of Intent in Alaska across utility, mining and data-center sectors.

## Latest updates

- **2026-06** — Featured at the World Geothermal Congress 2026 and deepened commitment with the Clean Energy Alliance.
- **2026-03** — David Dahlson joined to lead capital markets and investor strategy; company presented at CERAWeek.
- **2025-06** — Announced final close of $13.6M Series A round to advance its global geothermal exploration portfolio.
- **2025-02** — Raised $12.5M in Series A first close led by alfa8, with Nabors Industries and others participating.
- **2024-12** — Drilled first temperature-gradient well at the Kaynarpınar field in Eastern Anatolia, Türkiye.

## Links

- Website: https://ignisenergy.com
- LinkedIn: https://www.linkedin.com/company/ignis-energy-inc

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Profile page: https://yespress.io/ignis-h2-energy-inc
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Last updated: 2026-07-27