Meet the Powerhouses Behind the Geothermal Revolution
As the world races toward cleaner, more reliable energy solutions, geothermal power is emerging from the depths—both literally and figuratively. No longer a niche resource confined to volcanic zones, geothermal is now being reimagined as a global, scalable source of 24/7 clean energy.
Thanks to cutting-edge technology, deeper drilling, and rising demand for firm, carbon-free power, the geothermal sector is attracting serious attention—and serious investment. From legacy power producers to next-generation innovators and big-name oil and gas giants making strategic pivots, the geothermal landscape is rapidly evolving.
In this post, we profile the major players shaping the future of geothermal energy—those who are digging deep, thinking big, and redefining what’s possible beneath our feet.
Next-generation Geothermal Innovators
Oil & Gas Majors Investing in Geothermal
Key Government & Research Entities
Geothermal Power Producers & Developers
- Headquarters: Nevada, USA
- Profile: Global leader in geothermal power production and technology.
- Highlights: Operates over 900 MW of geothermal capacity worldwide.
- Headquarters: Texas, USA
- Profile: One of the largest U.S. generators of electricity from natural gas and geothermal.
- Highlights: Operates The Geysers in California—the largest geothermal complex in the world.
- Headquarters: Italy
- Profile: A global renewable energy powerhouse.
- Highlights: Strong geothermal presence in Italy, Chile, and the U.S.
KenGen (Kenya Electricity Generating Company)
- Headquarters: Nairobi, Kenya
- Profile: Dominates East Africa’s geothermal sector.
- Highlights: Operates Olkaria geothermal fields—among Africa’s largest.
Next-Generation Geothermal Innovators
- Headquarters: Houston, Texas
- Profile: Leader in enhanced geothermal systems (EGS).
- Highlights: Combines horizontal drilling and fiber-optic sensing for scalable geothermal—developing the 500 MW Cape Station.
- Headquarters: Cambridge, Massachusetts
- Profile: Pioneering millimeter wave drilling to reach superhot rock.
- Highlights: Plans to commercialize vaporization-based drilling for deep, high-temperature geothermal by 2026.
- Headquarters: Calgary, Canada
- Profile: Developing closed-loop geothermal systems (no fracking or fluids required).
- Highlights: “Eavor-Loop” projects underway in Germany, Japan, and North America.
- Headquarters: Texas, USA
- Profile: Innovating with geothermal energy storage and modular solutions.
- Highlights: Pilots combining geothermal and mechanical energy storage.
Geothermal Producers and Developers
Oil & Gas Majors Investing in Geothermal
- Profile: Investing in enhanced geothermal systems and collaborating with startups.
- Highlights: Partnered with Baseload Capital and supported Fervo Energy.
- Profile: Exploring advanced geothermal projects.
- Highlights: Joined the Project Innerspace initiative to map global geothermal potential.
- Profile: Investing in geothermal R&D, including EGS and heat mapping.
- Highlights: Brings deep oilfield experience to geothermal.
Geothermal Producers and Developers
Investors & Capital Providers
- Headquarters: Sweden
- Profile: A private investment firm focused on small-scale geothermal projects.
- Highlights: Backed projects in Iceland, Japan, Taiwan, and the U.S.
- Founded by: Bill Gates
- Profile: Invested in geothermal tech companies like Fervo and Quaise.
- Mission: Backing innovations that cut emissions and scale globally.
Geothermal Producers and Developers
Next-generation Geothermal Innovators
Key Government & Research Entities
- U.S. DOE Geothermal Technologies Office
- ARPA-E SUPERHOT Program
- Clean Air Task Force (CATF)
- NREL (National Renewable Energy Laboratory)
- Iceland GeoSurvey (ISOR)
Geothermal Producers and Developers
The Superhot Rock Revolution
How Quaise Energy Is Drilling to the Future of Clean Power An interesting article written by Velda Addison on the Hart Energy website explains how superhot rock drillers at Quaise Energy are advancing geothermal drilling capability. Following is a summary overview of...
Is Geothermal America’s Next Energy Revolution?
Call for a "Bold New Chapter in American Energy" In a powerful op-ed for the New York Post, former Federal Energy Regulatory Commission Chair Neil Chatterjee makes the case for a bold new chapter in American energy: a full-speed push into geothermal power. Drawing...
Clean Power Alliance Expands Geothermal Partnership
Clean Power Alliance Expands Geothermal Partnership with Fervo Energy to Deliver 24/7 Clean Power to 54,500 Homes Clean Power Alliance (CPA), California’s largest community choice energy aggregator and the nation’s leading green power provider, announced in a press...
Fervo Announces Station Expansion Agreement
Fervo Expands Cape Station to 500 MW In a press release, Fervo Energy, a pioneer in next-generation geothermal energy, announced it has taken a major leap forward in the clean energy race by announcing a 15-year power purchase agreement (PPA) with Shell Energy North...
Legislators Seek to Expand Geothermal Energy on Federal Lands
Push for Geothermal Development on Federal Lands The Wall Street Journal reports that a geothermal energy renaissance may be on the horizon, if Republican lawmakers get their way. At a recent House Natural Resources Committee hearing in Cedar City, Utah, GOP...
Geothermal Development Thwarted by Federal Red Tape
Government Drilling Permits Can Take Up to 10 Years Geothermal energy, a clean and renewable power source drawn from the Earth’s internal heat, is gaining renewed attention as the U.S. faces surging energy demands driven by AI and data center growth. But Deseret News...
The History of Geothermal Energy
The history of technological advances for geothermal energy spans several centuries, with significant developments occurring in the 20th and 21st centuries. Geothermal energy harnesses the heat from the earth's core to generate electricity and provide direct heating...
Home Geothermal Heating and Cooling Systems
Home geothermal heating and cooling systemsA home geothermal heating and cooling system, also known as a ground-source heat pump (GSHP) system, is an energy-efficient HVAC (Heating, Ventilation, and Air Conditioning) system that uses the stable temperature of the...