Ignis H2 Energy, a Houston, TX-based geothermal exploration and development startup, raised $12.5M in Series A funding.
The round was led by alfa8 and included a commitment from Nabors Industries, existing shareholders, private individuals, and family offices.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Richard Calleri, Ignis Energy integrates extensive expertise from the oil and gas sector into geothermal exploration and development. The company leverages machine learning models to predict, locate, and explore geothermal resources more efficiently, leading to better drilling outcomes and lower project risk. With a portfolio spanning multiple geographies and geological formations, Ignis Energy is targeting the development of one gigawatt of documented producible geothermal reserves by 2030.
The company has already secured geothermal opportunities in Turkey, Alaska, California, Nevada, and Italy.
FinSMEs
19/02/2025