What is Geothermal Engineering?
GEL Energy, operating as Geothermal Engineering, is a prominent developer focused on deep geothermal power and lithium projects across the UK. The company's core mission is to accelerate the global energy transition by establishing geothermal energy and ultra-low carbon lithium projects. GEL Energy is dedicated to enhancing Britain's energy independence and fostering a cleaner future through its initiatives, which include the development of the UK's first geothermal power plant and strategic collaborations with lithium process developers to extract lithium from geothermal brine. Their commitment extends to robust community engagement, positioning them as a key enabler of the shift towards sustainable energy solutions.
How much funding has Geothermal Engineering raised?
Geothermal Engineering has raised a total of $17.8M across 1 funding round:
Other Financing Round
$17.8M
Other Financing Round (2023): $17.8M with participation from Kerogen Capital and Thrive Renewables
Key Investors in Geothermal Engineering
Kerogen Capital
Kerogen Capital is a private equity fund manager with over $2 billion in assets under management, specializing in international energy and committed to the energy transition through its platform, CelerateX. They focus on long-term trends in the energy sector, including the shift to a lower carbon society.
Thrive Renewables
Thrive Renewables is a renewable energy investment company that has been funding clean energy projects since 1994. As a certified B Corporation, they empower individuals to participate in clean energy generation and tackle climate change through sustainable investment opportunities.
What's next for Geothermal Engineering?
The substantial enterprise-level funding indicates Geothermal Engineering is poised for significant scaling and operational expansion. This capital injection is expected to fuel the development of their flagship geothermal power and lithium projects, potentially accelerating the timeline for the UK's first geothermal power plant. The strategic investment suggests a focus on solidifying market position and potentially exploring new technological advancements in geothermal energy extraction and lithium processing. Geothermal Engineering's trajectory points towards becoming a critical player in the UK's renewable energy landscape and the broader global energy transition.
See full Geothermal Engineering company page
