About Geothermal Energy
There are 1.32K companies in the Geothermal Energy sector across the world, with 217 funded companies having collectively raised $13.8B in venture capital money and private equity. Overall 143 of these are Series A+ funded.
Geothermal Energy sector has seen 60 acquisitions and 48 IPOs. This represents almost 8.2% of all such companies - which is higher than the 4.3% exit rate of tech companies in general.
This sector includes companies developing technology, products and projects to harness the geothermal energy present under the surface of earth.
Geothermal Energy sector is also known as Geothermal Energy Solutions, Advanced Geothermal Energy or Digital Geothermal Energy.
Companies included in Geothermal Energy sector
All companies which manufacture products/machines that help extract the geothermal heat to be used for heating/cooling or generation of electricity. Also includes companies that develops projects and its associated ancillary service providers (drilling, O&M, etc.) to extract geothermal energy. Companies that enable such projects through their technologies for sub-surface mapping and heat/power monitoring and analysis have been included as well.Companies excluded in Geothermal Energy sector
Large Utilities which have geothermal energy projects as a minor part of their portfolio have been excludedMarket Map of Geothermal Energy
The market map of Geothermal Energy gives a visual overview of the sector, showing key business models, their interactions in the value chain, and industry evolution.
Reports related to Geothermal Energy
Here is a report related to Geothermal Energy sector:
View all reports related to Geothermal Energy. Sign up today!Top Companies in Geothermal Energy
There are more than 1.32K companies in Geothermal Energy. SLB is the top Geothermal Energy company globally, ranked using Tracxn Score (what's this?).
Here are 5 of the top Geothermal Energy companies globally:
Company | Description | Location | Founded | Current Stage | Private Funding Raised |
|---|---|---|---|---|---|
Provider of technology and services for energy industry operations globally | Houston (United States) | 1926 | Public | - | |
Manufacturer of geothermal energy based power generator and equipment | Reno (United States) | 1965 | Public | - | |
Provider of oil & gas transmission and distribution services | Jakarta (Indonesia) | 1957 | Public | - | |
America's premier competitive power company, providing clean, reliable energy solutions | Houston (United States) | 1984 | Acquired | - | |
Operator of hydroelectric solar wind geothermal and biomass power plants | Rome (Italy) | 2008 | Acquired | - |
Companies founded year-on-year in the Geothermal Energy sector
3 new startups have been founded so far in 2026 in the Geothermal Energy sector. 39 Geothermal Energy startups were founded in 2021 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | 3 |
2025 | 4 |
2024 | 1 |
2023 | 20 |
2022 | 32 |
2021 | 39 |
2020 | 33 |
2019 | 20 |
2018 | 34 |
2017 | 26 |
Companies founded across countries in the Geothermal Energy sector
United States has 235 Geothermal Energy startups, the most by any country, followed by Germany which has 148 startups and United Kingdom which has 134.
- Total Number of Companies
Country | No. of companies |
|---|---|
United States | 235 |
Germany | 148 |
United Kingdom | 134 |
Canada | 72 |
India | 37 |
Netherlands | 29 |
Australia | 21 |
France | 21 |
Italy | 18 |
Turkey | 18 |
Stage-wise distribution of the Geothermal Energy sector
Out of the total 1,323 Geothermal Energy companies, 217 have secured funding. Among them, 143 have reached Series A or higher, and 127 to Series B or beyond.
Founded - 1,323
Funded - 217
Series A+ - 143
Series B+ - 127
Series C+ - 118
Company Stage | No. of companies |
|---|---|
Founded | 1,323 |
Funded | 217 |
Series A+ | 143 |
Series B+ | 127 |
Series C+ | 118 |
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- 1.3K+ Total Companies
- $13.8B+ Total Funding
- 215+ Funded Companies
- 45+ IPOs
- 55+ Acquisitions
Funding Trends in the Geothermal Energy sector
Total funding year-on-year in the Geothermal Energy sector
The Geothermal Energy sector saw a total funding of more than $9.99B in the last 10 years. The most amount of funding was in 2021 at more than $2.23B. There has been a total funding of $506M in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $506M |
2025 | $254M |
2024 | $66.9M |
2023 | $691M |
2022 | $550M |
2021 | $2.23B |
2020 | $597M |
2019 | $1.71B |
2018 | $1.43B |
2017 | $1.95B |
Total funding across countries in the Geothermal Energy sector
In the last 10 years, Geothermal Energy startups in United States have recieved the highest funding among all countries - $2.26B. Iceland follows with $1.03B and Canada with $752M.
- Total Funding
Country | Total Funding |
|---|---|
United States | $2.26B |
Iceland | $1.03B |
Canada | $752M |
Italy | $685M |
United Kingdom | $168M |
Germany | $26.1M |
Japan | $7.5M |
Sweden | $4.05M |
Netherlands | $692K |
China | - |
Total funding amount raised by stage in the Geothermal Energy sector
Over the last 10 years, the Geothermal Energy sector have seen $98.6M into Seed Stage funding rounds, $990M into Early Stage funding rounds and $275M go into Late Stage funding rounds.
Funding Stage | Total Funding |
|---|---|
Debt | $5.57B |
Post IPO | $2.14B |
Early Stage | $990M |
Late Stage | $275M |
Grant | $228M |
Seed Stage | $98.6M |
PE | $49.7M |
Recent Funding Rounds in Geothermal Energy
In the year 2026, till August 2026, Geothermal Energy companies have raised $492M in equity funding across 10 rounds.
In the same period last year (i.e. till August 2025), Geothermal Energy companies had raised $41.1M across 6 rounds.
So, 2026 has seen a 1098.42% rise in funding in Geothermal Energy companies as compared to 2025.
Here are some recent, important funding rounds in Geothermal Energy:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series B | 2714 | Aug 27, 2026 | ||
Series B | 5582 | Jun 30, 2026 | ||
Series B | 6375 | Jun 30, 2026 | ||
Series A | 9888 | Jun 25, 2026 | ||
Seed | 6127 | Jun 17, 2026 | and 15 more |
Top Investors in Geothermal Energy
Europa is the top investor in Geothermal Energy companies based on number of companies invested.
Here are some top investors in Geothermal Energy:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Oak Ridge (United States) | ||
Cambridge (United States) | ||
Houston (United States) | ||
San Francisco (United States) |
M&A activity in Geothermal Energy
In the year 2025, till November 2025, 5 acquisitions happened in Geothermal Energy sector. Last year, in 2024, a total of 5 acquisitions happened in Geothermal Energy sector.
Here are some recent, important acquisitions in Geothermal Energy:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Nov 30, 2025 | ||
Business Acquisition | Jun 20, 2025 | ||
Business Acquisition | Feb 14, 2025 | ||
Business Acquisition | Jan 10, 2025 | ||
Business Acquisition | Jan 10, 2025 |
Acquisition trends in Geothermal Energy
Here are the acquisition trends in Geothermal Energy:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 5 |
2024 | 5 |
2023 | 10 |
2022 | 10 |
2021 | 5 |
2020 | 5 |
2019 | 5 |
2018 | 3 |
2017 | 3 |
IPOs in Geothermal Energy
In the year 2024, till January 2024, 1 IPO happened in Geothermal Energy sector.
Here are some recent, important IPOs in Geothermal Energy:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Jan 24, 2024 | Korea Exchange (KRX) | |
Oct 09, 2023 | Indonesia Stock Exchange (IDX) | |
Jul 10, 2023 | Hong Kong Exchanges (HKG) | |
Feb 24, 2023 | Indonesia Stock Exchange (IDX) | |
Feb 11, 2022 | OTC Markets (OTCMKTS) |
Colleges which produce the most Geothermal Energy companies
Companies founded by alumni from top colleges in the Geothermal Energy sector
Most number of Geothermal Energy startups have been founded by alumni from Stanford University, University of Cambridge and INSEAD.
College | No. of companies |
|---|---|
Stanford University | 3 |
University of Cambridge | 3 |
INSEAD | 2 |
ETH Zurich | 1 |
Harvard University | 1 |
Imperial College London | 1 |
Johns Hopkins University | 1 |
London School of Economics and Political Science | 1 |
Swiss Federal Institute of Technology Zurich | 1 |
University of California (Berkeley) | 1 |
Total funding in companies founded by alumni from top colleges in the the Geothermal Energy sector
In the last 10 years, Stanford University graduates' Geothermal Energy companies have raised the most funding among top colleges. University of Cambridge alumni are second, and University of Pennsylvania alumni are third.
College | Total Funding |
|---|---|
Stanford University | $577M |
University of Cambridge | $16.3M |
University of Pennsylvania | $8.71M |
University of California (Berkeley) | $4.3M |
Harvard University | $2.02M |
Imperial College London | $26.5K |
ETH Zurich | - |
INSEAD | - |
Johns Hopkins University | - |
London School of Economics and Political Science | - |
Top News in Geothermal Energy
•
Iberdrola, RE Royalties, and Enel: Energy Giants with Strong Dividends and Growth PotentialStockhouse Publishing•Aug 03, 2026•Enel Green Power, RE Royalties, Iberdrola
•
Terra-Gen's Lockhart Solar PV IV Project Achieves Commercial OperationsEnergy Global•Jul 15, 2026•Terra-Gen
•
Terra-Gen Starts Final Phase of California Solar-Storage ComplexRenewables Now•Jul 14, 2026•Terra-Gen
•
Steag receives approval for 4.5 MW/18 MWh battery energy storage system project in SpainRenewables Now•Jul 08, 2026•STEAG
•
Eavor Advances Next-Generation Geothermal Technology with Support from the Government of AlbertaFinancial Post•Jul 08, 2026•Eavor, GA Drilling, Rodatherm
•
Terra-Gen Receives Consent for GW-Scale Solar-BESS Park in CaliforniaRenewables Now•Jun 26, 2026•Terra-Gen
•
Calpine adds 25 MW to The Geysers geothermal complex in CaliforniaRenewables Now•Jun 08, 2026•Calpine
•
Iceland's Landsvirkjun raises USD 220m through green bond saleRenewables Now•May 29, 2026•Landsvirkjun
•
Terra-Gen powers up 125-MW Lockhart III solar farm in CaliforniaRenewables Now•May 21, 2026•Terra-Gen
•
ZE PAK Reports Net Loss of PLN 164.46 Million and EBIT Loss of PLN 133.33 Million in 2025Inwestycje.pl•Apr 29, 2026•Zepak
