The geothermal energy sector focuses on harnessing the Earth's natural heat to generate sustainable electricity and provide heating solutions. Companies in this industry explore geothermal resources, develop power plants, and innovate new technologies. As the world shifts towards cleaner energy, geothermal energy is gaining traction, particularly for its ability to provide baseload power without emissions. Emerging methods, such as enhanced geothermal systems (EGS) and standardized drilling technologies, are making this once niche energy source more accessible. Geothermal energy’s potential expands beyond electricity generation; it's increasingly viewed as a key player in achieving climate goals and reducing carbon footprints.

This list features a diverse array of geothermal energy companies that operate in multiple sectors and regions. Businesses range in size from small firms with fewer than 50 employees to larger corporations with thousands on staff. Founded between 1980 and 2024, their headquarters span the globe, including the United States, Canada, and Indonesia. Companies specialize in a wide range of services, from energy generation and technology development to system installations and consulting. Each company plays a unique role in transforming geothermal potential into practical solutions for energy needs.

Continue reading to explore the top geothermal energy companies.

Top 16 Geothermal Energy Companies

1. Calpine

• Website: calpine.com
• Ownership type: Corporate
• Headquarters: Houston, Texas, United States (USA)
• Employee distribution: United States (USA) 100%
• Latest funding: $16.4B, January 2025
• Founded year: 1984
• Headcount: 1001-5000
• LinkedIn: calpine

Calpine Corporation, founded in 1984 and headquartered in Houston, Texas, is an energy company that specializes in electricity generation from natural gas and geothermal resources. With a workforce of over 2,400 employees, Calpine operates 77 facilities across the United States and parts of Canada and Mexico. The company is recognized for its commitment to sustainability and innovation, focusing on low-carbon energy solutions. Notably, Calpine operates The Geysers, a geothermal facility in Northern California, which is the largest of its kind in the United States, generating around 725 megawatts of renewable baseload geothermal energy. This facility has been a cornerstone of Calpine's operations, reflecting its long-standing involvement in the geothermal sector. The company also emphasizes community impact and has made significant contributions to charitable initiatives, showcasing its commitment to social responsibility.

2. Eavor Technologies Inc.

• Website: eavor.com
• Ownership type: Private Equity
• Headquarters: Calgary, Alberta, Canada
• Employee distribution: Canada 90%, Germany 3%, United States (USA) 3%, Other 3%
• Latest funding: Other (Debt), $139.5M, May 2024
• Founded year: 2017
• Headcount: 51-200
• LinkedIn: eavor

Eavor Technologies Inc., based in Calgary, Alberta, Canada, is an energy technology firm focused on geothermal energy solutions. Founded in 2017, the company has developed groundbreaking projects such as Eavor-Europe™, Eavor-Deep™, and Eavor-Lite™, which aim to provide scalable and sustainable energy alternatives. Eavor's flagship technology, the Eavor-Loop™, is designed to deliver clean baseload power without the environmental concerns associated with traditional geothermal methods, such as fracking or aquifer contamination. The company primarily serves energy developers looking for reliable and eco-friendly energy solutions. Eavor has also attracted significant investment, with a recent funding round of approximately $139 million in May 2024, underscoring its growth potential and relevance in the energy sector.

3. Fervo Energy

• Website: fervoenergy.com
• Ownership type: Venture Capital
• Headquarters: Houston, Texas, United States (USA)
• Employee distribution: United States (USA) 100%
• Latest funding: Other (Debt), $120.0M, December 2024
• Founded year: 2017
• Headcount: 51-200
• LinkedIn: fervo-energy

Fervo Energy, based in Houston, Texas, is a geothermal energy company founded in 2017. The firm focuses on developing next-generation geothermal projects that aim to deliver 24/7 carbon-free energy. Fervo Energy is committed to leveraging innovative technologies to enhance geothermal energy production, making it a key player in the clean energy transition. The company employs advanced techniques such as horizontal drilling and distributed fiber optic sensing, which allow them to access geothermal resources in previously uneconomic locations. This innovative approach significantly increases the potential for geothermal energy production. Fervo has recently secured $120 million in funding, which underscores the confidence investors have in their vision and capabilities. Their flagship project, Cape Station, is expected to begin delivering renewable power to the grid by 2026, with a total capacity of 400 megawatts contracted from investment-grade buyers by 2028. Fervo Energy is actively contributing to the growth of the geothermal sector by addressing misconceptions and promoting the viability of geothermal as a reliable energy source.

4. Supreme Energy

• Website: supreme-energy.com
• Ownership type: Private
• Headquarters: South Jakarta, Jakarta, Indonesia
• Employee distribution: Indonesia 98%, United States (USA) 2%
• Latest funding: Other (Debt), $92.6M, January 2025
• Founded year: 2008
• Headcount: 201-500
• LinkedIn: supreme-energy-muara-laboh

Supreme Energy, founded in 2008 and based in South Jakarta, Indonesia, is a private company dedicated to the development of geothermal energy solutions. With a workforce of approximately 342 employees, the company focuses on the production of clean and sustainable electricity through geothermal resources. Supreme Energy is involved in various stages of geothermal development, including drilling production and injection wells, as well as constructing field facilities and power plants. Their notable projects include PT Supreme Energy Muara Laboh, PT Supreme Energy Rantau Dedap, and PT Supreme Energy Rajabasa, which highlight their commitment to harnessing geothermal energy in Indonesia. The company has also received substantial funding, with a reported amount of $92.6 million in debt financing, underscoring its growth potential and the confidence of investors in its operations.

5. GreenFire Energy Inc

• Website: greenfireenergy.com
• Ownership type: Corporate
• Headquarters: Walnut Creek, California, United States (USA)
• Employee distribution: United States (USA) 100%
• Latest funding: Series A, $20.0M, March 2022
• Founded year: 2014
• Headcount: 11-50
• LinkedIn: greenfire-energy

GreenFire Energy Inc. is a geothermal technology company based in Walnut Creek, California, established in 2014. The company specializes in advanced geothermal systems, particularly its patented GreenLoop® technology, which aims to maximize the economic production of underperforming geothermal wells and facilitate new projects. GreenFire Energy provides tailored solutions for geothermal operators, energy-intensive companies, and military facilities, focusing on sustainable energy production. Their operations include significant research and development efforts in geothermal technology, and they have been involved in various projects globally, such as collaborations with the Energy Development Corporation and Kenya Electricity Generating Company. In March 2022, GreenFire secured $20 million in Series A funding, led by Baker Hughes, which underscores their potential for growth and innovation in the geothermal sector.

6. Dandelion Energy

• Website: dandelionenergy.com
• Ownership type: Private Equity
• Headquarters: Mount Kisco, New York, United States (USA)
• Employee distribution: United States (USA) 100%
• Latest funding: Series C, $40.0M, September 2024
• Founded year: 2017
• Headcount: 51-200
• LinkedIn: dandelion-geothermal

Dandelion Energy, based in Mount Kisco, New York, is a geothermal energy provider that focuses on residential heating and cooling solutions. Founded in 2017, the company has carved out a niche in the geothermal market by offering comprehensive services that include geothermal system design, ground loop installation, and drilling. Their flagship product, the Dandelion Geo heat pump, is engineered for high efficiency, allowing homeowners to significantly reduce their energy costs and environmental impact. Dandelion has completed over 2,000 installations, showcasing their expertise and commitment to quality. The company operates a nationwide network of authorized installers, ensuring that their geothermal solutions are accessible to a broad audience. In September 2024, Dandelion secured $40 million in Series C funding, which will likely support their growth and innovation efforts in the geothermal space. Their focus on energy efficiency and sustainability aligns with the growing demand for renewable energy solutions in the residential sector.

7. Reykjavik Geothermal

• Website: rg.is
• Ownership type: Private
• Headquarters: Reykjavík, Reykjavíkurborg, Iceland
• Employee distribution: Iceland 76%, United Kingdom (UK) 24%
• Founded year: 2008
• Headcount: 11-50
• LinkedIn: reykjavik-geothermal

Reykjavik Geothermal, founded in 2008 and based in Reykjavík, Iceland, is a private geothermal energy developer. The company specializes in the sustainable development of geothermal resources aimed at utility-scale power production. With a team of experienced professionals, Reykjavik Geothermal manages the entire geothermal value chain, which includes resource exploration, reservoir assessment, project financing, drilling, and the design and construction of geothermal power plants. They are actively involved in projects across various regions, particularly in Africa, where they are developing two of the continent's largest independent power projects. Their mission emphasizes providing clean energy solutions that bolster local economies and enhance energy security while reducing dependence on fossil fuels. Reykjavik Geothermal is also committed to environmental and social governance, ensuring that their operations prioritize sustainability and community engagement.

8. ClimateMaster, Inc.

• Website: climatemaster.com
• Ownership type: Private
• Headquarters: Oklahoma City, Oklahoma, United States (USA)
• Employee distribution: United States (USA) 98%, Other 2%
• Founded year: 1951
• Headcount: 501-1000
• LinkedIn: climatemaster-inc-

ClimateMaster, Inc. is a private manufacturer based in Oklahoma City, Oklahoma, specializing in geothermal and water-source heating and cooling systems. Established in 1951, the company has evolved over the decades, moving from Florida to New York and finally to Oklahoma City, where it operates a state-of-the-art 510,000 square-foot facility. ClimateMaster is dedicated to providing innovative and energy-efficient solutions that help both homeowners and businesses reduce energy costs while enhancing comfort. The company emphasizes its commitment to American manufacturing, sustaining over 600 jobs and supporting a network of more than 1,200 independent dealers across the United States. Their product range includes advanced geothermal heat pump systems, which are designed to deliver long-lasting performance and efficiency. ClimateMaster's focus on sustainability and energy efficiency aligns with current trends in the energy sector, making them a relevant player in the geothermal industry.

9. EarthLinked Technologies, Inc.

• Website: earthlinked.com
• Ownership type: Private
• Headquarters: Lakeland, Florida, United States (USA)
• Employee distribution: United States (USA) 74%, United Kingdom (UK) 26%
• Founded year: 1980
• Headcount: 11-50
• LinkedIn: earthlinked-technologies-inc.

EarthLinked Technologies, Inc., based in Lakeland, Florida, has been a player in the geothermal energy sector since its founding in 1980. The company specializes in geothermal HVAC systems designed for both residential and commercial applications. Their products are engineered to deliver substantial energy savings while minimizing environmental impact. EarthLinked operates through a network of authorized dealers, ensuring that customers receive professional installation and ongoing support. The company emphasizes innovation in its product offerings, which include the Classic and Prime Series geothermal systems. These systems utilize advanced technology to optimize energy consumption and provide efficient heating and cooling solutions. EarthLinked's commitment to quality is reflected in their manufacturing processes, which adhere to high engineering standards. They also provide resources for financing and incentives, making geothermal solutions more accessible to consumers.

10. Gnz LLC

• Website: gnzenergy.com
• Ownership type: Private
• Headquarters: Lewes, Delaware, United States (USA)
• Founded year: 2007
• Headcount: 201-500
• LinkedIn: gnz-energy-limited

Gnz LLC, operating under the brand GNZ Energy, is a renewable energy company based in Lewes, Delaware. Founded in 2007, the company specializes in various forms of renewable energy, with a notable emphasis on geothermal energy. GNZ Energy has undertaken significant projects across several countries, including the Union of the Comoros, Kenya, and Spain, where they are developing geothermal plants to reduce reliance on fossil fuels. Their operations include drilling services and the establishment of renewable energy plants, showcasing their technical capabilities and commitment to sustainable energy solutions. The company has also engaged in partnerships with local governments and organizations, further solidifying its role in advancing geothermal energy initiatives. GNZ Energy's focus on geothermal power is underscored by their investments and ongoing projects aimed at harnessing the Earth's heat for electricity generation and direct heating applications.

11. Transmark Renewables

• Website: transmark-renewables.com
• Ownership type: Family Owned
• Headquarters: Amsterdam, North Holland, Netherlands
• Employee distribution: Turkey 62%, Netherlands 38%
• Founded year: 2009
• Headcount: 11-50
• LinkedIn: transmark-renewables

Transmark Renewables is a family-owned company based in Amsterdam, Netherlands, established in 2009. The firm specializes in the exploration, development, and production of geothermal energy, positioning itself as a key player in the renewable energy sector. With a workforce of 11-50 employees, Transmark operates in Turkey, Chile, and the Netherlands, focusing on harnessing geothermal resources to deliver clean and reliable energy. Their projects include the Gülpınar geothermal power plant in Turkey, which has shown promising resource potential, and the Adobera and Cachapoal projects in Chile, where they are actively conducting geoscientific fieldwork. Transmark Renewables aims to accelerate geothermal project development by providing technical, financial, and project expertise, thereby contributing to the global shift towards sustainable energy solutions.

12. Medco Power Indonesia

• Website: medcopower.co.id
• Ownership type: Private
• Headquarters: Jakarta, Jakarta, Indonesia
• Employee distribution: Indonesia 100%
• Founded year: 2004
• Headcount: 1001-5000
• LinkedIn: medco-power-indonesia

Medco Power Indonesia, established in 2004, is an independent power producer based in Jakarta, Indonesia. The company operates as a key player in the energy sector, focusing on electricity generation and renewable energy solutions. With a portfolio that includes over 3,100 MW of power generation capacity across 15 locations in Indonesia, Medco Power is committed to sustainable energy projects. Their operations extend beyond geothermal to include solar power initiatives, showcasing their dedication to clean energy. Medco Power has made strides in the geothermal sector, particularly with exploration activities in Blawan Ijen and the recent acquisition of a geothermal license in North Sumatra. The company also provides operation and maintenance services, ensuring reliable energy solutions for various businesses and organizations. Medco Power's strategic approach emphasizes environmental responsibility and the development of renewable energy resources, positioning them as a significant player in Indonesia's energy transition.

13. Geothermal Energy Association

• Website: geo-energy.org
• Ownership type: Private
• Headquarters: Washington, D.C., District Of Columbia, United States (USA)
• Latest funding: February 2018
• Founded year: 1987
• Headcount: 1-10
• LinkedIn: geothermal-energy-association

The Geothermal Energy Association, based in Washington, D.C., is a consulting firm founded in 1987 that specializes in renewable energy solutions. With a small team of around 18 employees, the company provides information and services related to various green energy technologies, including geothermal, solar, and wind energy. Their clientele includes homeowners and businesses looking to reduce energy costs and environmental impact through sustainable practices. The firm actively engages in discussions about geothermal energy, offering insights into its benefits and applications, but it also covers a broader spectrum of renewable energy topics. This approach positions them as a resource for those interested in green energy, though their primary focus is not solely on geothermal energy.

14. Sage Geosystems Inc.

• Website: sagegeosystems.com
• Ownership type: Venture Capital
• Headquarters: Houston, Texas, United States (USA)
• Employee distribution: United States (USA) 100%
• Latest funding: Series A, $17.0M, February 2024
• Founded year: 2020
• Headcount: 11-50
• LinkedIn: sage-geosystems

Sage Geosystems Inc., based in Houston, Texas, is a renewable energy company that specializes in geothermal energy solutions. Founded in 2020, the company has quickly established itself as an innovator in the geothermal sector. Sage Geosystems focuses on developing advanced technologies for geothermal power generation and energy storage, targeting utility companies and critical infrastructure. Their proprietary Geopressured Geothermal System (GGS) allows for enhanced energy extraction by harnessing both heat and pressure, effectively doubling energy output compared to traditional methods. The company aims to make geothermal energy more accessible and sustainable by utilizing proven oilfield technologies, which helps reduce costs. With a recent Series A funding round of $17 million in February 2024, Sage Geosystems is poised for growth and is actively working on projects that include partnerships with the U.S. Air Force and other utility companies. Their innovative tools, such as the GeoTwin modeling system, further enhance their capabilities in optimizing geothermal energy production.

15. Green Energy Geothermal Ltd.

• Website: geg.is
• Ownership type: Corporate
• Headquarters: Reykjavík, Reykjavíkurborg, Iceland
• Latest funding: $2.1M, March 2022
• Founded year: 2008
• Headcount: 51-200
• LinkedIn: green-energy-group-as

Green Energy Geothermal Ltd. (GEG) is an energy solutions provider based in Reykjavík, Iceland, founded in 2008. The company specializes in geothermal energy technologies, offering engineering services aimed at optimizing and retrofitting geothermal plants. GEG is also involved in innovative cold storage solutions tailored for agricultural applications. Their clientele includes national utilities and industries seeking sustainable energy alternatives. GEG operates in various regions, including Iceland, Kenya, and Canada, and has recently completed significant projects such as the world’s first field test of thermoelectric generation using low-temperature geothermal energy. The company has also been recognized for its contributions to the Milken-Motsepe Prize in Green Energy, showcasing its commitment to innovation and sustainability in the geothermal sector.

16. Deutsche ErdWärme GmbH

• Website: deutsche-erdwaerme.de
• Ownership type: Private
• Headquarters: Karlsruhe, Baden-Württemberg, Germany
• Employee distribution: Germany 100%
• Founded year: 2014
• Headcount: 11-50
• LinkedIn: deutsche-erdw%c3%a4rme-gmbh

Deutsche ErdWärme GmbH, based in Karlsruhe, Baden-Württemberg, Germany, is a renewable energy company founded in 2014. The firm specializes in geothermal energy solutions, providing consultation services to local governments, businesses, and individuals who are seeking sustainable energy alternatives. With a workforce of 27 employees, the company is dedicated to harnessing geothermal resources to contribute to Germany's climate neutrality goals. They focus on the Oberrhein region, where the geological conditions are particularly favorable for deep geothermal energy. Deutsche ErdWärme aims to make climate-friendly geothermal energy accessible to local communities, thereby playing a significant role in the transition to renewable energy in the region.

Geothermal Energy Insights: Key Companies

Company	Headquarter	Size	Founded	Ownership
Calpine	Houston, Texas, United States (USA)	1001-5000	1984	Corporate
Eavor Technologies Inc.	Calgary, Alberta, Canada	51-200	2017	Private Equity
Fervo Energy	Houston, Texas, United States (USA)	51-200	2017	Venture Capital
Supreme Energy	South Jakarta, Jakarta, Indonesia	201-500	2008	Private
GreenFire Energy Inc	Walnut Creek, California, United States (USA)	11-50	2014	Corporate
Dandelion Energy	Mount Kisco, New York, United States (USA)	51-200	2017	Private Equity
Reykjavik Geothermal	Reykjavík, Reykjavíkurborg, Iceland	11-50	2008	Private
ClimateMaster, Inc.	Oklahoma City, Oklahoma, United States (USA)	501-1000	1951	Private
EarthLinked Technologies, Inc.	Lakeland, Florida, United States (USA)	11-50	1980	Private
Gnz LLC	Lewes, Delaware, United States (USA)	201-500	2007	Private
Transmark Renewables	Amsterdam, North Holland, Netherlands	11-50	2009	Family Owned
Medco Power Indonesia	Jakarta, Jakarta, Indonesia	1001-5000	2004	Private
Geothermal Energy Association	Washington, D.C., District Of Columbia, United States (USA)	1-10	1987	Private
Sage Geosystems Inc.	Houston, Texas, United States (USA)	11-50	2020	Venture Capital
Green Energy Geothermal Ltd.	Reykjavík, Reykjavíkurborg, Iceland	51-200	2008	Corporate
Deutsche ErdWärme GmbH	Karlsruhe, Baden-Württemberg, Germany	11-50	2014	Private

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