Rodatherm Energy, a pioneering geothermal startup, has come out of stealth mode with a substantial $38 million in funding and a bold vision to establish a pilot plant in Utah.
Setting itself apart from the competition, Rodatherm utilizes a unique closed-loop system, likely composed of steel and filled with a refrigerant, in its boreholes. This innovative approach differs from other geothermal companies that rely on water for heat transfer from deep underground.
The startup’s Series A funding round was spearheaded by Evok Innovations, with contributions from Active Impact Investments, Giga Investments, Grantham Foundation for the Protection of the Environment, MCJ, TDK Ventures, Tech Energy Ventures, and Toyota Ventures.
In a competitive landscape populated by established players like Fervo Energy, Sage Geosystems, XGS Energy, and Quaise, Rodatherm faces a formidable challenge. Fervo Energy, in particular, has garnered significant attention with nearly $1 billion in funding and ambitious plans for power plant development.
Rodatherm asserts that its closed-loop, refrigerant-based system offers a 50% increase in efficiency compared to traditional water-based systems. This approach, reminiscent of air-source heat pumps, is designed to minimize water usage and eliminate the need for filters that open-loop systems require.
While Rodatherm’s innovative approach may incur higher drilling and installation costs, the potential efficiency gains from the refrigerant-based design could offset these expenses. The company’s upcoming pilot plant in Utah, funded by the Series A round, aims to demonstrate the viability of their technology.
Scheduled for completion by the end of 2026, the 1.8-megawatt pilot plant in Utah represents a significant milestone for Rodatherm. Partnering with Utah Associated Municipal Power Systems, the startup is poised to make a meaningful impact in the geothermal energy sector.
