XGS Energy
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Geothermal Innovator XGS Energy Completes Oversubscribed $20M Capital Raise
XGS Energy, an innovator in next-generation geothermal energy technology, announced that it has completed $20 million in additional Series A financing. The final close was led by Valo Ventures and VoLo Earth Ventures, and included financing from new investors B Current Impact Investment, MIH Capital, and individual inside investors, as well as additional funding from existing investor Thin Line Capital. This new financing builds on the $9.7 million round led by Constellation Technology Ventures earlier this year, and the $14M Series A investment led by Anzu Partners.
This financing will support XGS’ first commercial-scale project in California later this year and accelerate deployment of its proprietary water-independent geothermal technology across its global project pipeline. With over $40 million in total funding to date, XGS’s growing investor and partner network reflects the commercial promise of its technology and its potential to contribute to a clean, reliable, and affordable electricity grid.
XGS Energy Secures $9.7M in New Financing Led by Constellation Technology Ventures
XGS Energy, an innovator in next-generation geothermal energy technology, announced that it has raised an additional $9.7 million. The round was led by Constellation Technology Ventures, with BlueScopeX and Thin Line Capital, as well as individual inside investors. This new financing will accelerate XGS’ North American prototype demonstrating its proprietary Thermal Reach Enhancement™ (TRE) geothermal technology at full commercial scale.
XGS’ upcoming prototype will demonstrate the commercial readiness and scalability of its TRE technology and further validate its proprietary predictive performance models. The prototype builds on the successful completion of more than 24 months of lab testing and is a key milestone for XGS’ first commercial projects in the Western United States, Japan, and the Philippines.