This latest funding round will demonstrate the commercial readiness and scalability of XGS’ new thermal reach enhancement technology. (Source: Shutterstock)
Geothermal technology company XGS Energy announced an additional $9.7 million in new financing on Jan. 23.
This new financing, led by Constellation Technology Ventures, will help demonstrate XGS’ upcoming thermal reach enhancement (TRE) prototype.
XGS’ TRE system delivers high efficiency thermal energy by leveraging materials 50 times more conductive than native rock, XGS said. Unlike traditional geothermal solutions that require access to hot water reservoirs and specific geological formations, the technology can be deployed anywhere in the world.
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