Nabors
Assembly Line
GA Drilling Announces First Close of $15M to Accelerate the Delivery of Deep Geothermal Energy
GA Drilling, the leader in deep geothermal, announced the first close of $15 million in financing after a series of successful tests. The investment fuels the commercialization of geothermal technologies to scale the renewable energy source as a real option to replace fossil fuels for baseload power. Delivering deep geothermal faster and at deeper depths while remaining cost-effective is how the company will go from delivering megawatts of energy to terawatts. Investors include leading global drilling rig, services, and technology provider, Nabors, Christian Oldendorff’s new Family Office, alfa8, the previous CEO of private equity firm EQT, Thomas von Koch, newly established geothermal fund Underground Ventures, and Slovakia-based, Neulogy Ventures.