enhanced-geothermal-systems
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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.
Mazama Energy
Mazama Energy is a Frisco, Texas geothermal developer building Enhanced Geothermal Systems that tap superhot rock (SHR) - underground formations above 374 C - to deliver low-cost, round-the-clock, carbon-free electricity. Incubated by Khosla Ventures and backed by Gates Frontier, the company reached a world-record 629 F (331 C) bottomhole temperature at its Newberry Volcano pilot in Oregon and aims to produce power at under 5 cents per kWh, with 10x the power density, 75% less water, and 80% fewer wells than conventional geothermal.
Sriram Vasantharajan
Sriram Vasantharajan is the President and CEO of Mazama Energy, a Khosla Ventures and Gates Frontier-backed startup drilling into Oregon's Newberry Volcano to prove that superhot rock geothermal can deliver round-the-clock, carbon-free power at fossil-fuel prices. A former ExxonMobil engineer and CEO of oilfield services firm Blade Energy Partners, he is now applying decades of drilling and well-stimulation know-how from the oil patch to the geothermal industry, chasing rock hot enough to make a volcano's flank into a power plant.
Fervo Energy
Fervo Energy is a Houston-based next-generation geothermal company that borrows horizontal drilling and fiber-optic sensing from the oil and gas playbook to make enhanced geothermal systems (EGS) commercially viable. By drilling into hot dry rock almost anywhere - not just rare natural hotspots - Fervo produces around-the-clock, carbon-free firm power. Its flagship Cape Station project in Utah is on track to be the world's largest next-generation geothermal development, and the company has become a go-to supplier of clean baseload electricity for AI data centers and utilities.
Tim Latimer
Tim Latimer is the co-founder and CEO of Fervo Energy, the company that took horizontal drilling and fiber optic sensing out of the shale fields and pointed them straight down into hot rock. A former oil-and-gas drilling engineer who grew up next to the last coal plant built in America, he left the industry, talked his way into Stanford, met a geothermal PhD named Jack Norbeck, and bet that geothermal could become 24/7 carbon-free power at utility scale. Fervo has since raised over a billion dollars, broken drilling records once thought decades away, signed Google as a customer, and gone public on the Nasdaq in 2026 while building Cape Station, the world's largest next-generation geothermal project.
Mark McClure
Mark McClure is the co-founder and CEO of ResFrac Corporation, a Palo Alto-based company building advanced physics-based simulation software for the energy industry. A Stanford PhD in Energy Resources Engineering, he spent time as an assistant professor at UT Austin before founding ResFrac in 2015. His research on hydraulic fracturing, induced seismicity, and enhanced geothermal systems has earned over 5,800 scholarly citations and an h-index of 38. Under his leadership, ResFrac has grown to serve 60+ exploration and production companies and secured a platform investment from Banneker Partners in 2026. He also advises Fervo Energy on geothermal development.