geothermal
(11)
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.
AirMyne
AirMyne is a Berkeley, California climate-tech company building liquid-based direct air capture (DAC) systems that pull carbon dioxide out of the atmosphere at industrial scale. Founded in 2022 by chemical-industry veterans Sudip Mukhopadhyay and Mark Cyffka, the company designs a low-temperature, energy-flexible capture process - regenerating its solvent at roughly 100-130 C so it can run on waste heat, geothermal energy, or electricity rather than the high-temperature furnaces most DAC rivals require. Backed by Y Combinator and, more recently, a strategic investment from Japanese energy giant ENEOS, AirMyne is moving from kilogram-per-day prototypes toward a commercial pilot and demonstration plant.
ResFrac Corporation
ResFrac Corporation builds the industry's only fully coupled hydraulic fracturing and reservoir simulator, letting energy engineers model the full life of a well - from the first crack in the rock to years of production - in one continuous physics-based simulation. Founded in 2015 by Stanford-trained engineer Mark McClure, the Palo Alto company is used by over 35 operators and 50 institutions worldwide across shale, conventional and enhanced geothermal plays.
Bedrock Energy
Bedrock Energy is an Austin-based geothermal startup making heating and cooling for commercial buildings cheaper and cleaner. By reengineering oil-and-gas drilling technology with real-time subsurface sensing and simulation software, Bedrock drills geothermal boreholes up to 5x faster, then designs and delivers ground-source heat pump systems that can cut a building's HVAC energy costs in half while slashing related air pollution.
Dandelion Energy
Dandelion Energy is an Alphabet (Google X) spinout that designs, installs, and finances residential and multifamily geothermal heating and cooling systems. By drilling ground loops that tap the earth's stable temperature and pairing them with a proprietary heat pump, Dandelion replaces fossil-fuel furnaces and air conditioners with a single all-electric system that cuts home heating and cooling bills while eliminating on-site emissions. The company has grown into the largest home geothermal provider in the U.S., installing thousands of systems and partnering with the nation's largest production homebuilders and multifamily developers to make geothermal a default option for new construction.
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.
HyperSciences, Inc.
HyperSciences is a Spokane, Washington deep-tech company that commercializes the ram accelerator - an in-tube hypersonic engine licensed from the University of Washington - to fire projectiles through rock at up to nine times the speed of sound. Its platform technology, the HyperCore, powers products for tunneling and mining (HyperDrill, Hyperbreaker), geothermal and energy drilling, and aerospace launch (HyperLaunch). The pitch: break rock and reach orbit faster and cheaper by replacing slow mechanical drill bits and first-stage rockets with repeatable hypervelocity impact.
Zanskar
Zanskar is a Salt Lake City geothermal company that uses artificial intelligence and computational geoscience to find, de-risk, and develop naturally occurring geothermal energy. By applying machine learning to vast troves of geological data, Zanskar pinpoints 'blind' hydrothermal reservoirs that leave no clue at the surface, cutting the exploration risk that has long kept geothermal expensive. The company is now moving from discovery to building its own power plants, with a multi-gigawatt pipeline aimed at making 24/7 carbon-free power cost-competitive.
Quaise Energy
Quaise Energy is an MIT spinout commercializing millimeter wave drilling, a technique that uses powerful gyrotrons to vaporize rock and bore holes up to 20 km deep - far deeper than conventional bits can reach. The goal is to tap superhot geothermal heat (up to ~500 C) almost anywhere on Earth, turning geothermal into a scalable, carbon-free baseload power source that can be delivered through existing power plant infrastructure.
Terra AI
Terra AI is a Palo Alto geoscience company building generative AI that turns the messy, expensive guesswork of subsurface exploration into fast, probabilistic 3D models of what lies underground. By fusing geophysics, geochemistry, and drilling data, its platform generates millions of geological scenarios in minutes, helping mining and energy teams decide where to drill, how many wells they need, and whether a project is worth the capital - shrinking exploration timelines and pointing capital at the critical minerals the clean-energy transition depends on.