XGS Energy Secures $13M for Geothermal Technology Expansion
Deal News | Mar 31, 2025 | Wilson Sonsini
XGS Energy, a developer of innovative, water-independent geothermal technology, successfully secured $13 million in financing on March 26, 2025. The funding round, notable for being oversubscribed, attracted investment from new participants such as Aligned Climate Capital, ClearSky, ClimateIC, and WovenEarth Ventures, alongside existing contributors like Constellation Energy. Legal firm Wilson Sonsini Goodrich & Rosati provided advisory services to XGS Energy for this transaction. The funds aim to expedite the deployment of advanced geothermal systems, marking a significant step in clean energy development.
Sectors
- Renewable Energy
- Legal Advisory
- Financial Services
Geography
- United States – XGS Energy and the advisory firm Wilson Sonsini Goodrich & Rosati are based in the United States, as are most of the mentioned investors.
Industry
- Renewable Energy – The article discusses XGS Energy's geothermal technology, which is a form of renewable energy.
- Legal Advisory – Wilson Sonsini Goodrich & Rosati provided legal advisory services for the XGS Energy financing transaction.
- Financial Services – The article involves financial transactions and investor participation for funding XGS Energy.
Financials
- $13 million – Total amount raised in the financing round for XGS Energy.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| XGS Energy | Target company | Company | Developer of water-independent geothermal technology. |
| Wilson Sonsini Goodrich & Rosati | Legal advisor | Company | Provided advisory services for XGS Energy's financing round. |
| Aligned Climate Capital | New Investor | Company | Participant in the financing round for XGS Energy. |
| ClearSky | New Investor | Company | Participant in the financing round for XGS Energy. |
| ClimateIC | New Investor | Company | Participant in the financing round for XGS Energy. |
| WovenEarth Ventures | New Investor | Company | Participant in the financing round for XGS Energy. |
| Constellation Energy | Existing Investor | Company | Existing investor participating in the XGS Energy financing round. |