Rodatherm Secures $38M Series A to Advance Waterless Geothermal Energy

Rodatherm Energy Corp., a next-generation geothermal startup, has successfully closed a $38 million Series A funding round, with Evok Innovations leading the investment. The company is now poised to capitalize on the artificial intelligence-driven power boom. This funding will support the construction of a pilot system in Utah, where Rodatherm is preparing to drill its first test site. Rodatherm has engineered a closed-loop geothermal energy system that employs refrigerants, differentiating it from traditional systems which use water. This innovative technology is specifically optimized for use in hot sedimentary rock formations, a geological characteristic prevalent in basins across the western United States and the Gulf Coast. This successful funding round represents a significant milestone for Rodatherm as it advances toward demonstrating the efficacy of its novel geothermal energy generation approach.