Geothermal Startup Uses Refrigerants, Not Water, to Make Energy

A next-generation geothermal startup is planning to build a pilot system in Utah following a $38 million Series A fundraising round, as it takes initial steps to capitalize on the artificial intelligence-driven power boom.

Rodatherm Energy Corp. has developed a closed-loop geothermal energy system that uses refrigerants instead of water used in traditional systems. The technology is optimized to work in hot sedimentary rock, which is commonly found in basins throughout the western US and Gulf Coast. The raise was led by Evok Innovations.

The raise follows a rash of good news for the geothermal industry over the past year, ...