Best Geothermal Energy Companies in United States
The 109 best Geothermal Energy companies in United States in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Ormat.
Ranked by disclosed equity funding and recent momentum, this directory maps 109 Geothermal Energy companies operating across the United States, a sector that's quietly building serious capital density well below the noise level of solar and wind. Total disclosed funding sits at $348M across those 109 players, with Terra-Gen leading at $55M and Zanskar close behind at $42M. No unicorns yet. But the funding is real, the projects are in the ground, and the global market backdrop is tightening: the geothermal energy market is forecast to reach $9.4 billion by 2027, compounding at roughly 5.9% annually from a $7.0B base in 2022, driven by ground-source heat pump demand and favorable federal policy tailwinds.
So what does the funding distribution actually tell you? It's concentrated but not monopolized. Ameresco ($40M), Bedrock Energy ($8M), and Hephae Energy Technology ($6M) fill out a mid-tier that's still attracting institutional backers like ArcLight and the California Energy Commission. I'd flag that regulatory support, particularly government initiatives around clean baseload power, is a genuine demand driver here, not background noise. As recent analysis on geothermal's expanding role makes clear, the technology case is maturing fast. The directory below is your map to who's funded, who's moving, and where the capital is concentrating.
Ranked: Best Geothermal Energy companies in United States
| # | Company | Disclosed funding | Last round | Employees | Founded | Founder | Market signals (1y) | Patents & IP focus | Recent signals |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Ormat Manufacturer of geothermal energy based power generator and equipment | $92M | 48 mo ago | 1,480 1,480 → 1,348 (-9%) | 1965 | — | 9 signals ▼59% Earnings · Capital raise · Announcements | 257 patents Geothermal and waste‑heat recovery power generation with cooling‑water management | 1 launch |
| 2 | Terra-Gen Independent renewable energy power producer | $55M | 27 mo ago | 312 312 → 302 (-3%) | 2007 | — | — | — | — |
| 3 | Zanskar Provider of geothermal & minerals mining services | $42M | 5 mo ago | 25 | 2020 | Joel Edwards Co-Founder & CTO | 3 signals Funding | — | — |
| 4 | Ameresco Developer of energy efficiency, storage, and renewable natural gas 69Partners top 18%News top 22%Product top 22%Talent top 25% All 14 signals ▾Partnerstop 18% Newstop 22% Producttop 22% Talenttop 25% Markettop 30% Fundingtop 30% Fin. healthtop 32% Growthtop 38% Techtop 46% Moattop 47% Patentstop 49% Innovationbottom 44% Globalbottom 32% Customersbottom 7% Partners: 5 contract events in 12 mo · Named contractor/client in 5 deals News: 24 BI events in 12 mo (of 222 tracked, 9 types) · +71% YoY rank vs industry peers · Fliar Intelligence Index 69/100 | $40M | 7 mo ago | 1,126 | 2000 | David Anderson Co-Founder and Strategic Advisor | 24 signals ▲71% Leadership · Earnings · Contracts | 4 patents Density-gradient separation systems for liquid-phase purification and biotech processing | — |
| 5 | AltaRock Energy Developer of enhanced geothermal systems for clean energy production | $26M | 98 mo ago | 24 | 2007 | — | — | 62 patents Patents concentrated in construction | — |
| 6 | USGeothermal Manufacturer of corrugated boxes and packaging solutions | $20M | 121 mo ago | 49 | 2000 | — | — | — | — |
| 7 | Controlled Thermal Resources Independent power producer using geothermal energy resources | $13M | 39 mo ago | 35 | 2011 | — | — | — | — |
| 8 | Geopower Energy Developes and operates geo-thermal energy assets | $9M | 131 mo ago | — | 2010 | Ben Mead CEO & MD | — | — | — |
| 9 | Bedrock Energy Provider of decarbonizing services for buildings with geothermal heating and cooling 13Talent top 38%Funding top 45%Global bottom 37%Market bottom 18% All 4 signals ▾Talenttop 38% Fundingtop 45% Globalbottom 37% Marketbottom 18% Talent: 2 named leaders on record · 2 C-suite/founder profiles curated Funding: Raised $8.5M across 2 rounds · 2 rounds over 4 yrs (0.5/yr) rank vs industry peers · Fliar Intelligence Index 13/100 | $8M | 16 mo ago | 8 | 2022 | Joselyn Lai Co-Founder & CEO | — | — | — |
| 10 | TEVERRA Provider of consulting services for oil & gas industry, geothermal energy, and carbon storage | $7M | 16 mo ago | 14 | 2014 | — | — | — | — |
| 11 | GFE Sustainable Sustainable resource company focused on clean energy, water, and community development | $6M | 87 mo ago | 3 | 2009 | Kevin Dwyer CEO | — | — | — |
| 12 | Hephae Energy Technology Developer of high temperature drilling technology for geothermal energy exploration and extraction 27Growth top 35%Funding top 47%Tech bottom 43%Global bottom 36% All 5 signals ▾Growthtop 35% Fundingtop 47% Techbottom 43% Globalbottom 36% Marketbottom 16% Growth: Fresh capital in last 24 mo Funding: Raised $6.3M · 1 rounds over 2 yrs (0.5/yr) rank vs industry peers · Fliar Intelligence Index 27/100 | $6M | 21 mo ago | 9 | 2020 | — | — | — | 1 award |
| 13 | Syrcuit Energy Solutions Manufacturer of solar cells | $6M | 50 mo ago | 5 | 2021 | — | — | — | — |
| 14 | Vespene Geothermal energy developer | $4M | 46 mo ago | 6 | 2021 | Adam Wright Co-Founder & CEO | — | — | — |
| 15 | Potter Drilling Drilling solutions provider | $4M | 179 mo ago | — | 2004 | — | — | 29 patents Advanced thermal/mechanical drilling and non‑circular borehole technologies for wellbore enhancement | — |
| 16 | Galvanic Energy Developer of geothermal energy plant | $3M | 54 mo ago | 6 | 2018 | — | — | — | — |
| 17 | GeoGenCo Developer of geothermal energy plant | $3M | 33 mo ago | 7 | 2013 | Charles Snyder CEO | — | — | — |
| 18 | GreenFire Energy Deep land geothermal-based energy generator | $1M | 52 mo ago | 18 | 2010 | — | — | — | — |
| 19 | GeoTek Energy Geothermal pumps for oil and gas application and power generation | $483K | 202 mo ago | — | 2004 | Allen Swenson CEO | — | — | — |
| 20 | Raser Technologies Geothermal power developer | $300K | 230 mo ago | — | 2003 | Nick Goodman Founder & CEO | — | 8 patents Patents concentrated in electrical & electronics | — |
| 21 | American Geothermal Operator of a golf and country club offering memberships and event facilities | $300K | 100 mo ago | 13 | 1981 | — | — | — | 1 job opening |
| 22 | Criterion Energy Partners Provider of exploration & production services for decentralized direct geothermal energy projects | $206K | 47 mo ago | 12 | 2021 | Sean Marshall Co-Founder | — | — | — |
| 23 | Geothermal Developer of geothermal energy projects | $150K | 54 mo ago | 2 | 2018 | J McDaniel CEO | — | — | — |
| 24 | GreenCloud Developer of geo-thermal power plants | $100K | 158 mo ago | 11 | 2010 | — | — | — | — |
| 25 | Fourth Wave Energy Provider of renewable energy development and marketing for geothermal power project services | $25K | 48 mo ago | 3 | 2020 | — | — | — | — |
| 26 | Calpine America's premier competitive power company, providing clean, reliable energy solutions | — | 12 mo ago | 162 | 1984 | — | 8 signals M&A · Acquisition · Capital raise | 8 patents Cooling‑tower water chemistry control, turbine exhaust sealing, gas contaminant removal, and data schema management. | — |
Top 12 Geothermal Energy companies in United States
#1
Series C · Salt Lake City, Utah · founded 2020 · 25 employees$42Mraised▾
Zanskar Geothermal & Minerals is a company that utilizes AI, big data, and advanced sensing techniques to identify and explore the world's most prolific geothermal systems. They aim to make geothermal power the cheapest and widely-deployable form of energy.
#2
Public · Framingham, Massachusetts · founded 2000 · 1126 employees$39.9Mraised▾
Developer of energy efficiency, storage, and renewable natural gas
- Oct 2025Grant (prize money)$39.9M
#3
Funding Raised · Atlanta, Georgia · founded 2014 · 14 employees$7.3Mraised▾
Provider of consulting services for oil & gas industry, geothermal energy, and carbon storage
- Jan 2025Grant (prize money)$1.2M
- Jul 2023Grant (prize money)$206.5K
- Jun 2022Grant (prize money)$1.3M
- Apr 2022Grant (prize money)$256K
#4
Series A · Los Angeles, California · founded 2022 · 8 employees$8.5Mraised▾
Provider of decarbonizing services for buildings with geothermal heating and cooling
- Jan 2025Series A$12M
- Oct 2023Seed$8.5M
- Jul 2022Seed—
#5
Acquired · New York City, New York · founded 2007 · 312 employees$55Mraised▾
Terra-Gen is a renewable energy company focused on developing, owning, and operating utility-scale wind, solar and geothermal generation. Terra-Gen owns 1051 MW of wind, geothermal and solar generating capacity in operation across 25 renewable power facilities throughout the Western United States with a focus on the California Marketplace. Terra-Gen's subsidiaries are responsible for the operation and maintenance of over 2,000 MWs of renewable projects. The company primarily sells power to utilities and power cooperatives under long-term power purchase agreements.
- Mar 2024Series A—
- Aug 2020PE—
- Apr 2018Conventional Debt$244M
- May 2011PE$55M
#6
Series A · Houston, Texas · founded 2020 · 9 employees$6.3Mraised▾
Developer of high temperature drilling technology for geothermal energy exploration and extraction. The company is developing high temperature directional drilling technology for geothermal wells. The solutions enable the exploitation of geothermal resources and development of clean and sustainable energy solutions.
#7
Public · Reno, Nevada · founded 1965 · 1480 employees$92Mraised▾
Manufacturer of geothermal energy based power generator and equipment
#8
Series A · El Centro, California · founded 2011 · 35 employees$13.1Mraised▾
Controlled Thermal Resources is a geothermal development company that is developing a utility scale renewable energy project located at the Salton Sea, Southern California, USA. The company has secured a site with high resources and mineral rights, with plans for development over multiple stages with the Stage One power plant having a capacity of 250MW.
- Mar 2023Series A$13.1M
- Jul 2021Seed—
- Jun 2020Grant (prize money)$4.6M
#9
Seed · Brawley, California · founded 2013 · 7 employees$2.6Mraised▾
Operator of a geothermal energy plant intended to generate clean, renewable baseload power without consuming water or processing hazardous brine. The company's plant specializes in a closed-loop brine convection technology to sustainably extract heat from deep thermal reservoirs and generate baseload power, enabling customers to get clean energy that is generated power without the usage of water resources.
#10
Acquired · Boise, Idaho · founded 2000 · 49 employees$20Mraised▾
Manufacturer of corrugated boxes and packaging solutions. They produce a variety of packaging products, including printed corrugated boxes, mono cartons, display units, slip sheets, and paper pallets. The company utilizes in-house quality control and testing to ensure product quality. Their services encompass structural and graphic design, supporting the creation of custom packaging solutions. They offer both standard and bespoke packaging options to meet diverse customer needs.
- May 2016Conventional Debt$20M
- Dec 2012Post IPO$4.4M
- Mar 2011Post IPO$5M
- Mar 2010Post IPO$8.6M
#11
Series B · Seattle, Washington · founded 2007 · 24 employees$26.3Mraised▾
Developer of enhanced geothermal systems for clean energy production. It focuses on superhot rock geothermal energy extraction, developing advanced drilling, well completion, and reservoir development technologies. This involves creating new materials and methods for high-temperature environments and optimizing wellfield systems for long-term, sustainable energy generation. The company also works on system integration to ensure the efficient and cost-effective deployment of these technologies. Research and development efforts include collaborations with national laboratories and universities to advance drilling techniques and improve energy conversion methods.
#12
Series A · Denver, Colorado · founded 2021 · 5 employees$6Mraised▾
Manufacturer of solar cells
- Apr 2022Series A$6M
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of Geothermal Energy coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
Common questions
Riya reads income statements for fun. She covers the real money in a sector — revenue, growth, who actually earns — and never met a vague claim she didn't want a number for.