Global Geothermal Energy Production Landscape: Technology Leaders, Market State, and Commercial Readiness (2026)
This article was powered by Cypris Q, an AI agent that helps R&D teams instantly synthesize insights from patents, scientific literature, and market intelligence from around the globe. Discover how leading R&D teams use Cypris Q to monitor technology landscapes and identify opportunities faster - Book a demo
Executive Summary
Global geothermal electricity production remains commercially mature in regions where high-quality hydrothermal resources exist, but the industry's near-term growth narrative is increasingly shaped by next-generation geothermal technologies attempting to expand the addressable resource base beyond naturally permeable reservoirs [1, 2, 3]. Enhanced Geothermal Systems (EGS) and closed-loop advanced geothermal systems represent the frontier of this expansion, promising to unlock geothermal potential in geographies that lack the fortuitous combination of heat, permeability, and fluid that traditional hydrothermal projects require.
In the short term over the next three to seven years, market momentum is likely to concentrate in jurisdictions that place high value on firm clean capacity and are creating bankable offtake pathways. This dynamic is illustrated by large planned pipelines in the United States and by long-duration procurement signals such as multi-hundred megawatt power purchase agreements for next-generation geothermal supply [4, 5, 6]. These commercial commitments signal that utilities and grid operators increasingly recognize geothermal's unique value proposition as a dispatchable, weather-independent clean energy source capable of providing baseload and flexible generation in ways that wind and solar cannot.
Technology leadership in the geothermal sector is notably bifurcated. Incumbent developers lead in commercial execution, plant operations, and reservoir management know-how built over decades of hydrothermal project delivery. Meanwhile, advanced geothermal developers and oilfield service firms lead much of the innovation in drilling, well construction, flow control, and subsurface management that will ultimately determine whether geothermal can scale materially into new geographies [7, 8, 9, 2]. This split between operational maturity and technological frontier creates both partnership opportunities and competitive tensions as the industry evolves.
Methodology and Assumptions
This Cypris Q analysis integrates market and pipeline reporting with commercial milestones, validated through peer-reviewed papers and recent patent filings on EGS, closed-loop systems, and superhot geothermal engineering [4, 2, 3, 10, 11, 7, 8]. The approach triangulates multiple evidence streams to distinguish between genuine technical progress and promotional claims.
Technology leaders are identified using three criteria: evidence of operational deployments or pilots, commercial traction demonstrated through power purchase agreements and planned capacity, and innovation footprint visible in patents and technical publications [5, 6, 11, 7, 9]. Web sources describing commercialization milestones are treated as market signals and are not used alone to substantiate technical performance claims without corroborating primary technical sources [12, 2, 11].
Detailed Analysis
State of the Global Market
The geothermal market presents a paradox: it is simultaneously one of the most proven clean energy technologies and one of the most geographically constrained. Understanding this tension is essential for evaluating investment opportunities and technology trajectories.
Conventional hydrothermal geothermal is an established grid-power technology with decades of operational history, but it remains constrained by the need for naturally occurring heat, permeability, and fluids in the right combination [1]. This geological lottery makes the traditional market comparatively stable and project-by-project rather than exhibiting the rapid, manufacturing-like scale curves seen in solar and wind deployment [1]. Projects proceed where nature has provided the right subsurface conditions, and expansion into new regions requires either discovering new hydrothermal resources or developing technologies that can create productive reservoirs where nature has not.
Despite these constraints, the market is re-accelerating due to evolving power system needs. The near-term demand driver is the power system value of firm and flexible clean generation. As grids incorporate higher penetrations of variable renewable energy, the premium on dispatchable clean capacity increases. Modeling work published in Nature Energy highlights geothermal's potential role as a flexible resource in deeply decarbonized grids, elevating its value relative to purely energy-only resources that cannot guarantee availability when needed [13]. This flexibility premium is drawing new attention from utilities, grid operators, and policymakers who recognize that achieving deep decarbonization requires more than intermittent renewables alone.
Near-term pipeline indicators suggest this renewed interest is translating into project development. A Global Energy Monitor briefing reported 1.2 GW of geothermal capacity planned in the United States within a near-term policy window, indicating that policy alignment can quickly generate visible project pipelines even if actual commissioning occurs over longer timeframes [4]. This pipeline growth reflects both improved economics and increasing recognition of geothermal's grid services value.
The Data Center Demand Catalyst
Perhaps no single factor has accelerated geothermal investment more dramatically than the explosive growth of artificial intelligence and its voracious appetite for electricity. Data center power demand, driven largely by AI workloads, could more than double by 2026 according to the International Energy Agency, creating an urgent need for clean, firm generation that can operate around the clock [31]. This demand profile aligns perfectly with geothermal's core value proposition.
Analysis from the Rhodium Group projects that if scaled effectively, enhanced geothermal systems could supply nearly two-thirds of new data center demand by 2030 [32]. This potential has not gone unnoticed by hyperscale technology companies. Google was among the earliest backers of Fervo Energy and has since expanded its geothermal commitments, including a partnership with Baseload Capital for geothermal supply in Taiwan [33]. Meta has emerged as a particularly aggressive geothermal buyer, signing deals with both Sage Geosystems for 150 MW east of the Rocky Mountains and XGS Energy for another 150 MW in New Mexico to support data center expansion [34, 35]. Microsoft and G42 announced plans for a geothermal-powered data center in Kenya as part of a $1 billion investment targeting 1 GW of sustainable power [36].
The strategic logic for technology companies extends beyond environmental commitments. Major players including Microsoft and Google have pledged to match their electricity consumption with clean energy on an hourly basis by 2030, a target that intermittent renewables alone cannot achieve [32]. Geothermal's high availability factor makes it uniquely suited to satisfy these 24/7 clean energy requirements. As one Meta executive described these agreements, they represent "strategic bets designed to help technologies and companies scale, to prove their technical feasibility at scale, and to drive down costs in an accelerated way" [37].
Technology Segments and Commercial Readiness
The geothermal technology landscape encompasses several distinct approaches, each with different readiness levels and commercialization pathways. Understanding these distinctions is critical for evaluating market opportunities and technology bets.
Hydrothermal Geothermal represents the commercially mature baseline with high readiness [1]. These systems tap naturally occurring reservoirs where heat, permeability, and fluid coexist, enabling straightforward extraction and power generation. Innovation focus in the near term centers on incremental performance and operations improvements, including system optimization and advanced monitoring capabilities [14, 15], as well as integration into district heating concepts that can improve overall project economics by capturing value from both electricity and thermal energy [16]. While hydrothermal resources are geographically limited, they remain the foundation of global geothermal capacity and the proving ground for operational practices that advanced systems will need to match.
Enhanced Geothermal Systems (EGS) occupy the demonstration-to-early-commercial stage with medium readiness. EGS seeks to create or enhance permeability in hot rock using hydraulic or thermal stimulation techniques, expanding geothermal beyond naturally permeable reservoirs and dramatically increasing the theoretical resource base [17]. Recent modeling emphasizes that deep and high-temperature EGS can be energetically attractive but requires strict subsurface conditions to succeed commercially. Achieving appropriate bulk permeability without unacceptable injection pressures and managing thermal drawdown over multi-decade project lifetimes remain significant technical challenges [3]. Multi-well and horizontal-well fracturing concepts are actively being studied to improve heat extraction performance and reduce short-circuiting risk where injected fluid bypasses the heat exchange zone [18]. Readiness remains site-specific, with execution risk concentrated primarily in the subsurface where geological uncertainty is highest [3, 18].
Closed-Loop and Advanced Geothermal Systems (CLGS/AGS) represent an approach where commercial viability hinges critically on drilling economics. Closed-loop systems extract heat without producing formation fluids, typically relying on conductive heat transfer through the wellbore wall rather than convective transfer through produced fluids [2, 10]. This approach eliminates many of the subsurface uncertainties that plague EGS but introduces its own constraints. A large parametric modeling study found that closed-loop systems can reach competitive levelized cost of heat, but competitive levelized cost of electricity generally requires substantial drilling cost reductions [2]. The study emphasized that higher temperatures exceeding 200°C at depth materially improve power generation potential [2]. A separate techno-economic analysis similarly concludes that AGS remain uneconomic with standard drilling practices, implying that significant drilling cost reductions on the order of 50% or more represent a key enabling condition for widespread deployment [10].
This drilling cost sensitivity creates a clear innovation target. For heat applications, closed-loop systems show higher near-term readiness in suitable geological basins where drilling depths are manageable [2]. For electricity applications, economics remain sensitive to drilling cost and well configuration, making early commercialization plausible but not broadly cost-competitive under standard drilling paradigms [2, 10]. Patent activity shows aggressive development of closed-loop well construction and operation methods, including drilling thermal management techniques and sealed wellbore creation approaches that could reduce costs and improve performance [7, 8, 11].
Superhot and Supercritical Geothermal targets extreme subsurface conditions that can dramatically raise individual well productivity but introduces major integrity, corrosion, and scaling challenges that push the boundaries of materials science and well engineering [19, 11, 20]. Research highlights complex permeability behavior and thermo-mechanical effects around approximately 400°C where rock properties change significantly [21], scaling risks including halite precipitation that can clog wells and reduce productivity [22, 19], and well integrity challenges driven by thermal shocks affecting casing and cement systems during drilling and production cycles [23, 11]. Corrosion testing suggests common casing material choices can face localized corrosion risks in simulated superhot environments, requiring either new materials or protective strategies [20, 24]. Readiness remains low-to-medium, with activity concentrated primarily in pilots and de-risking research rather than widespread commercial deployment [11, 19].
Technology Leadership Landscape
Leadership in geothermal differs substantially depending on whether the criterion is commercial deployment today or the ability to scale geothermal into new geographies tomorrow. This distinction matters for strategic positioning and partnership decisions.
Commercial Leaders in Hydrothermal Execution and Bankability
The most bankable near-term geothermal capacity continues to come from incumbent hydrothermal developers, operators, and established plant integrators. Their leadership position rests on proven project delivery track records and reservoir management workflows refined over decades of operational experience [1]. These companies have demonstrated the ability to bring projects from exploration through construction to long-term operation, managing the geological, engineering, and financial risks that characterize geothermal development.
Ormat Technologies exemplifies this incumbent advantage. The Nevada-based company, originally founded in Israel, operates the largest geothermal power plant on Earth at The Geysers in Northern California and maintains a global portfolio of conventional hydrothermal assets. Recognizing the strategic importance of next-generation technologies, Ormat signed a landmark partnership with Sage Geosystems in September 2025 to license Sage's Pressure Geothermal technology for deployment at existing Ormat facilities [38]. This deal signals that even established players view advanced geothermal as essential to future growth and are willing to partner rather than develop these capabilities purely in-house.
Innovation at incumbent firms tends to focus on plant optimization and market expansion rather than fundamental technology shifts. Patent activity shows emphasis on power plant performance optimization systems and integration into district heating networks that can improve project economics [16, 14]. These incremental improvements compound over time, reducing operating costs and extending asset life, but they do not fundamentally change the geographic constraints of hydrothermal development.
Innovation Leaders Expanding the Resource Base
The leading edge of efforts to expand geothermal everywhere is concentrated among several distinct groups, each bringing different capabilities to the challenge.
Fervo Energy has emerged as the frontrunner among enhanced geothermal startups, attracting over $1.5 billion in total funding since its 2017 founding by Tim Latimer and Jack Norbeck, who met at Stanford University [39]. The company's approach adapts horizontal drilling and hydraulic fracturing techniques from the oil and gas industry to create engineered geothermal reservoirs in hot rock formations. Fervo's technical progress has been remarkable: wells that initially took a month to drill are now completed in as little as 16 days, cutting drilling costs nearly in half from $9.4 million to $4.8 million per well [40]. This drilling speed improvement is both economically significant and a demonstration of operational mastery.
Fervo's Cape Station project in Utah represents the clearest proof point for commercial-scale EGS. The 500 MW development will deliver its first 100 MW to the grid in late 2026, with an additional 400 MW expected by 2028 [41]. The project has secured offtake commitments from Southern California Edison, Shell Energy North America, and others, representing one of the most significant commercial validations of next-generation geothermal to date. In December 2025, Fervo closed a $462 million Series E round led by B Capital with participation from Google, positioning the company for potential IPO consideration as it scales operations [42].
Eavor Technologies, the Canadian closed-loop pioneer, achieved a major milestone in December 2025 when its Geretsried facility in Germany began delivering power to the grid, marking the first commercial demonstration of its Eavor-Loop technology [43]. The 8 MW facility circulates a proprietary working fluid through a radiator-like underground network, extracting heat through conduction rather than requiring produced fluids or induced fracturing. This approach eliminates concerns about induced seismicity and can theoretically be deployed almost anywhere hot rock exists at depth.
Eavor's value proposition centers on operational simplicity and longevity. The company claims its systems can operate for up to 100 years without additional drilling and require no continuous pumping, eliminating parasitic load [43]. As advisor Michael Liebreich noted, "Closed loop geothermal offers a very different value proposition to wind and solar," though he cautioned that "at its heart, Eavor is a bet on improvements in drilling technology" [43]. The company secured $65 million in late-stage venture funding in June 2025 and is now targeting the U.S. data center market and expansion into Japan [44].
Sage Geosystems has carved out a distinctive position with its Pressure Geothermal technology, which captures both heat and mechanical pressure from hot, dry rock formations. Founded by Cindy Taff, who spent four decades at Shell, Sage leverages extensive oil and gas expertise to target low-permeability formations at depths between 2.5 and 6 kilometers [45]. The company estimates its approach can unlock over 130 times more geothermal potential in the U.S. alone compared to conventional approaches [45].
Sage's technology uniquely doubles as long-duration energy storage, capable of absorbing excess renewable generation and releasing it when demand peaks. The company operates a 3 MW commercial energy storage facility in Christine, Texas and has secured significant commercial traction including the 150 MW Meta partnership and a strategic licensing agreement with Ormat [38, 46]. ABB signed a memorandum of understanding in February 2025 to collaborate on developing Sage's systems for data center applications [47].
XGS Energy represents a hybrid approach between enhanced and advanced geothermal. The company has signed a 150 MW agreement with Meta for a project in New Mexico expected online by 2030, and raised $13 million in March 2025 toward commercial deployment [48]. XGS was among eleven geothermal firms pre-qualified by the U.S. Air Force for potential defense installations, alongside Fervo, Sage, Quaise Energy, and GreenFire Energy [48].
Quaise Energy pursues perhaps the most ambitious technical approach, aiming to drill more than six miles deep to access temperatures exceeding 900°F using millimeter-wave drilling technology that vaporizes rock [49]. The Massachusetts-based company, spun out of MIT research, plans to drill its first full-size boreholes by 2028 with a target of reaching six miles in just 100 days [49]. If successful, this approach could make geothermal viable virtually anywhere on Earth by accessing the extreme temperatures found at great depth.
Factor2 Energy, founded by former Siemens Energy executives, is developing a novel approach using CO2 rather than water as the working fluid, which can deliver up to twice the power output under comparable geological conditions while requiring significantly lower capital expenditure [50]. The company completed a $9.1 million seed round in September 2025 to accelerate commercialization [50].
Oilfield Service and Subsurface Technology Firms bring decades of drilling and completion expertise to geothermal applications. Cypris Q analysis of patent activity shows development of geothermal-specific downhole materials and tools, including high-temperature elastomers capable of surviving extreme conditions [9, 28], and geothermal flow control and optimization concepts adapted from oil and gas applications [29, 30]. Baker Hughes has emerged as a key supplier, winning a contract to design and deliver five steam turbines for Fervo's Cape Station project that will generate 300 MW collectively [51]. This technology transfer from hydrocarbon extraction to geothermal represents a significant innovation pathway, leveraging existing supply chains and engineering knowledge bases.
Market Leaders by Commercial Traction
Beyond technology development, commercial traction provides the clearest signal of near-term market leadership. The ability to convert technical capability into contracted revenue separates demonstration projects from scalable businesses.
Large Offtake Commitments as Leadership Markers
A major near-term leadership marker is the ability to secure long-term power purchase agreements at meaningful scale. Fervo Energy's 320 MW of PPAs with Southern California Edison represents one of the clearest public indicators that creditworthy buyers will contract next-generation geothermal at scale if delivery risk appears manageable [5]. The procurement has associated regulatory documentation at the California Public Utilities Commission level, indicating seriousness of the contracting pathway and providing visibility into terms and conditions [6]. These commitments signal that advanced geothermal has crossed a threshold from science project to investable infrastructure, at least in the eyes of major utility buyers.
The data center sector has emerged as an equally important source of commercial validation. Startups working on enhanced or advanced geothermal systems have raised more than $1.3 billion from investors including oil majors such as Chevron and Baker Hughes, according to Wood Mackenzie [52]. The research firm estimates the Great Basin region including Nevada, Utah, and parts of California, Oregon, and Wyoming could support at least 135 GW of capacity, roughly 10 percent of U.S. power supply [52]. Even without federal tax credits, the levelized cost of energy from next-generation projects like Cape Station is approximately $79 per megawatt-hour, increasingly competitive with other firm generation sources [52].
Drilling Economics and Reliability as the Critical Scale Gates
Across both academic papers and patent filings, the same bottleneck emerges repeatedly as the gating factor for industry scaling.
For closed-loop and AGS systems, economics are dominated by drilling cost. Multiple techno-economic analyses conclude that these systems need significant drilling cost reductions to achieve competitive levelized cost of electricity [2, 10]. This creates a clear innovation target and explains the intense focus on drilling efficiency, well construction methods, and drilling thermal management visible in recent patent activity. Fervo's demonstration that drilling times can be reduced from 30 days to 16 days, with corresponding cost reductions approaching 50%, suggests this barrier is surmountable with continued operational learning [40].
For superhot and high-temperature systems, well integrity represents the critical constraint. Success hinges on managing cement and casing thermal stress under extreme temperature cycling and controlling corrosion and scaling under conditions that exceed the design limits of conventional materials [11, 20, 22]. The patent record suggests companies are actively engineering solutions to these constraints, developing drilling cooling methods, sealed well construction techniques, and high-temperature downhole materials specifically designed for geothermal applications [8, 7, 9].
Conclusion and Strategic Recommendations
The global geothermal landscape is best described as mature hydrothermal production operating alongside a rapidly innovating engineered geothermal frontier [1, 2]. These two segments have different risk profiles, return characteristics, and scaling trajectories that investors and strategic partners must evaluate separately.
In the short term, the market is likely to reward companies that can achieve three interrelated objectives. First, reducing drilling cost and cycle time represents the prerequisite for closed-loop and AGS electricity competitiveness, and progress on this dimension will unlock deployment in geographies currently uneconomic [2, 10]. Fervo's demonstrated ability to cut drilling times by nearly half provides a template for the learning curve required. Second, demonstrating reliable high-temperature well integrity and flow assurance will enable access to the most productive superhot resources and reduce the operational risk premium that currently constrains financing [11, 20]. Third, converting technical credibility into bankable revenue through large offtake agreements and visible development pipelines provides the commercial validation that attracts capital and talent [5, 4].
The convergence of AI-driven data center demand, technology company sustainability commitments, and bipartisan policy support has created unprecedented momentum for geothermal development. With installed capacity projected to grow from 16.8 GW today to 28 GW by 2030 and potentially 110 GW by 2050, the market growth trajectory is expected to attract investments totaling over $120 billion between now and 2035 [47].
Commercial leadership today remains concentrated among hydrothermal incumbents due to their proven project execution capabilities [1]. However, leadership in expanding the market is increasingly visible among advanced geothermal developers and the oilfield services supply chain. This shift is evidenced by concentrated patenting activity and the strong linkage between geothermal scaling and downhole engineering innovation that these players are driving [11, 7, 8, 9]. The companies that bridge the gap between technological innovation and commercial execution will likely emerge as the dominant players in what could become a significantly larger global geothermal market.
References
[1] Izadi G, Freitag HC. "Resource assessment and management for different geothermal systems (hydrothermal, enhanced geothermal, and advanced geothermal systems)." Elsevier eBooks. doi:10.1016/b978-0-443-21662-6.00003-7.
[2] Bettin G, Augustine C, Bernat A, Parisi C, Marshall TD. "Numerical investigation of closed-loop geothermal systems in deep geothermal reservoirs." Geothermics. doi:10.1016/j.geothermics.2023.102852.
[3] Houde M, Scott S, Yapparova A, Weis P. "Hydrological constraints on the potential of enhanced geothermal systems in the ductile crust." Geothermal Energy. doi:10.1186/s40517-024-00288-4.
[4] Global Energy Monitor. "GEM GGPT brief March 2025." https://globalenergymonitor.org/wp-content/uploads/2025/03/GEM-GGPT-brief-March-2025.pdf.
[5] Fervo Energy. "Fervo Energy Announces 320 MW Power Purchase Agreements with Southern California Edison." https://fervoenergy.com/fervo-energy-announces-320-mw-power-purchase-agreements-with-southern-california-edison/.
[6] California Public Utilities Commission. "Published Documentation." https://docs.cpuc.ca.gov/PublishedDocs/Published/G000/M528/K560/528560288.PDF.
[7] Eavor Technologies Inc. "Forming High-Efficiency Geothermal Wellbores." Patent No. US-20250146713-A1. Issued May 8, 2025.
[8] Eavor Technologies Inc. "Cooling for geothermal well drilling." Patent No. US-12140028-B2. Issued Nov 12, 2024.
[9] Halliburton Energy Services, Inc. "Downhole Tools Having Elastomer Blend For Geothermal Wellbores." Patent No. US-20250154848-A1. Issued May 15, 2025.
[10] Malek AE, Saar MO, Schiegg HO, Rossi E, Adams BM. "Techno-economic analysis of Advanced Geothermal Systems (AGS)." Renewable Energy. doi:10.1016/j.renene.2022.01.012.
[11] Bois AP, Coudert T, Hoang NH, Naumann M, Sæther SA. "Effect of Cement Behaviour on Casing Integrity in Superhot Geothermal Wells: A Numerical Study." 50th U.S. Rock Mechanics/Geomechanics Symposium. doi:10.56952/arma-2022-0738.
[12] Power Magazine. "Eavor's First-of-Its-Kind Closed-Loop Geothermal Project Produces Grid Power in Germany." https://www.powermag.com/eavors-first-of-its-kind-closed-loop-geothermal-project-produces-grid-power-in-germany/.
[13] Jenkins J, Voller K, Norbeck J, Ricks W, Galban G. "The role of flexible geothermal power in decarbonized electricity systems." Nature Energy. doi:10.1038/s41560-023-01437-y.
[14] Ormat Technologies Inc. "System for Optimizing and Maintaining Power Plant Performance." Patent No. US-20210332806-A1. Issued Oct 28, 2021.
[15] Schlumberger Technology Corporation. "Monitoring and Managing a Geothermal Energy System." Patent No. US-20250207564-A1. Issued Jun 26, 2025.
[16] Ormat Technologies, Inc. "Geothermal district heating power system." Patent No. US-11905856-B2. Issued Feb 20, 2024.
[17] Baba A, Chandrasekharam D. "Enhanced Geothermal Systems (EGS)." CRC Press eBooks. doi:10.1201/9781003271475.
[18] Tie Y, Wu H, Chen D, Hu L, Liu H. "Numerical investigations on the performance analysis of multiple fracturing horizontal wells in enhanced geothermal system." Geothermal Energy. doi:10.1186/s40517-025-00338-5.
[19] Driesner T, Yapparova A, Lamy-Chappuis B. "Advanced well model for superhot and saline geothermal reservoirs." Geothermics. doi:10.1016/j.geothermics.2022.102529.
[20] Straume EO, Þórhallsson AI, Karlsdóttir SN, Boakye GO, Þráinsdóttir MÝ. "Corrosion Testing of Carbon Steel and 13Cr Casing Materials in Simulated Superhot Deep Geothermal Well Environment." Conference proceedings. doi:10.5006/c2024-20903.
[21] Watanabe N, Nakayama D, Pramudyo E, Goto R, Takahashi R. "Cooling-induced permeability enhancement for networks of microfractures in superhot geothermal environments." Geothermal Energy. doi:10.1186/s40517-023-00251-9.
[22] Ellingsen L, Haug-Warberg T. "Thermodynamics of Halite Scaling in Superhot Geothermal Systems." Energies. doi:10.3390/en17122812.
[23] Anfinsen BT, Meng M, Liu Y, Zhou L. "Advanced Numerical Analysis of Well Integrity and Thermal Dynamics in Superhot Geothermal Reservoirs." SPE Annual Technical Conference and Exhibition. doi:10.2118/228037-ms.
[24] Straume EO, Karlsdóttir SN, Boakye GO, Ijegbai DA. "Corrosion Behavior of L80-Carbon Steel and 13 Cr Casing Materials at 400°C in Simulated Superhot Geothermal Well Environment." Conference proceedings. doi:10.5006/c2025-00067.
[25] Greenfire Energy Inc. "Geothermal heat recovery from high-temperature, low-permeability geologic formations for power generation using closed loop systems." Patent No. US-10527026-B2. Issued Jan 7, 2020.
[26] Greenfire Energy Inc. "System and Method for Geothermal Energy Production." Patent No. WO-2025147722-A1. Issued Jul 10, 2025.
[27] Polsky Y, Wang JA, Thakore V, Wang H, Ren F. "Stability study of aqueous foams under high-temperature and high-pressure conditions relevant to Enhanced Geothermal Systems (EGS)." Geothermics. doi:10.1016/j.geothermics.2023.102862.
[28] Halliburton Energy Services, Inc. "Downhole Tools Having Elastomer Blend For Geothermal Wellbores." Patent No. WO-2025106096-A1. Issued May 22, 2025.
[29] Baker Hughes Oilfield Operations LLC. "Flow control in geothermal wells." Patent No. AU-2021232588-B2. Issued Sep 14, 2023.
[30] Schlumberger Technology B.V. and Services Petroliers Schlumberger. "Monitoring and Managing a Geothermal Energy System." Patent No. EP-4575346-A1. Issued Jun 25, 2025.
[31] International Energy Agency. "Data center electricity demand projections." 2024.
[32] Rhodium Group. "The Potential for Geothermal Energy to Meet Growing Data Center Electricity Demand." 2024.
[33] Canary Media. "Inside the data-center energy race with Google and Microsoft." November 2025.
[34] Trellis. "Meta inks geothermal deal with startup XGS Energy." June 2025.
[35] Renewable Energy World. "Geothermal east of the Rockies? Meta and Sage team up to feed data centers." August 2024.
[36] Baseload Capital. "The hottest energy in tech: Why AI is turning to geothermal and vice versa." August 2025.
[37] Data Center Dynamics. "Drilling for data: Can geothermal power meet hyperscale ambitions?" November 2025.
[38] Latitude Media. "Geothermal giant Ormat inks major deal with upstart Sage Geosystems." September 2025.
[39] TechCrunch. "Google invests in Fervo's $462M round to unlock even more geothermal energy." December 2025.
[40] CNN. "They're using the techniques honed by oil and gas to find near-limitless clean energy beneath our feet." July 2025.
[41] MIT Technology Review. "2025 Climate Tech Companies to Watch: Fervo Energy and its advanced geothermal power plants." October 2025.
[42] Canary Media. "Fervo nabs $462M to complete massive next-gen geothermal project." December 2025.
[43] Geothermal Canada. "Geothermal Upstart Eavor Touts 1st Commercial Demo, Eyes US Data Center Market." December 2025.
[44] Net Zero Insights. "Five Geothermal Startups Powering the Clean Energy Transition." October 2025.
[45] Think GeoEnergy. "Sage Geosystems – Pioneering Pressure Geothermal with oil and gas expertise." November 2025.
[46] Data Center Frontier. "Meta's Investment In Data Center Geothermal Power Is Just the Latest In Clean Energy for Hyperscalers." August 2024.
[47] ABB News Center. "ABB and Sage Geosystems unearth geothermal energy opportunities." February 2025.
[48] CleanTechnica. "US Geothermal Energy Startup Endorsed By US Air Force." March 2025.
[49] Climate Insider. "5 Geothermal Startups to Keep An Eye On in 2025." March 2025.
[50] Net Zero Insights. "Factor2 Energy funding announcement." October 2025.
[51] TechCrunch. "Advanced geothermal startups are just getting warmed up." September 2025.
[52] Wood Mackenzie. "Enhanced geothermal market analysis." 2025.
