Constellation Technology Ventures

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XGS Energy Secures $9.7M in New Financing Led by Constellation Technology Ventures

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: XGS Energy, Constellation Technology Ventures

XGS Energy, an innovator in next-generation geothermal energy technology, announced that it has raised an additional $9.7 million. The round was led by Constellation Technology Ventures, with BlueScopeX and Thin Line Capital, as well as individual inside investors. This new financing will accelerate XGS’ North American prototype demonstrating its proprietary Thermal Reach Enhancement™ (TRE) geothermal technology at full commercial scale.

XGS’ upcoming prototype will demonstrate the commercial readiness and scalability of its TRE technology and further validate its proprietary predictive performance models. The prototype builds on the successful completion of more than 24 months of lab testing and is a key milestone for XGS’ first commercial projects in the Western United States, Japan, and the Philippines.

Read more at Business Wire