Rodatherm Energy, a geothermal startup, emerged from stealth on Monday with $38 million in Series A funding and a plan to build a pilot plant in Utah.
The company stands out with a closed-loop borehole system, likely steel pipes filled with refrigerant, rather than the water-based systems used by most enhanced geothermal firms. Rodatherm claims this design is 50% more efficient, reduces water use, and avoids problems like debris clogging that plague open-loop setups.
The funding round was led by Evok Innovations, with participation from Active Impact Investments, Giga Investments, Grantham Foundation for the Protection of the Environment, MCJ, TDK Ventures, Tech Energy Ventures, and Toyota Ventures.
Rodatherm enters a competitive field that includes Fervo Energy, Sage Geosystems, XGS Energy, and Quaise. Fervo has raised nearly $1 billion and is building a 500-megawatt plant in Nevada, with Google lined up as a power buyer. XGS Energy is developing a 150-megawatt project in New Mexico to power Meta’s data centers.
Rodatherm says its refrigerant-based approach could prove more efficient, though drilling and installation costs are expected to be higher than traditional designs. Whether efficiency gains outweigh those costs will become clearer once its first well is completed.
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The company plans to use the new funding to construct a 1.8-megawatt pilot plant in Utah by 2026, with Utah Associated Municipal Power Systems already signed on to purchase electricity from the project.
