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
Geothermal Energy Applications
There are many geothermal energy applications. They include energy generation, direct use applications, geothermal heat pumps, and district heating. Electricity Generation: Dry Steam Power Plants: These power plants use high-temperature steam directly from...