XGS Energy

XGS Energy is a geothermal technology and project development company headquartered in Palo Alto, California with operations in Houston, Texas. The company evolved from Geothermic Solution LLC — a California-based geothermal technology firm whose origins trace to 2008 — and adopted its current identity as XGS Energy in 2022. Under CEO Josh Prueher, the company assembled a leadership team drawing from Baker Hughes, BP, Halliburton, Shell, and SLB, pairing decades of commercial-scale oil and gas project experience with a novel approach to geothermal heat harvesting. XGS operates as both a technology innovator and a project developer, with active projects in the United States and international expansion interests in Japan and the Philippines.

XGS's tagline — "Clean, Round-the-Clock Energy Everywhere, Forever" — captures the company's founding purpose: to develop a geothermal system that is geography-independent, water-independent, and predictable enough to be financed at infrastructure scale. Its core innovation, Thermal Reach Enhancement (TRE), is a proprietary highly conductive material pumped as a liquid slurry into the annular space between a sealed steel pipe and the surrounding hot rock. This dramatically increases heat transfer into a closed-loop well system without requiring any fracturing of the rock, any flow of fluids through the formation, or any withdrawal of groundwater. XGS's system decouples geothermal from its historical dependence on natural water resources and rock permeability, allowing deployment in dry, geologically diverse environments anywhere hot rock exists at sufficient depth.

XGS Energy is an independent private company. It has raised over $40 million in total funding as of early 2025, including a $14 million Series A round led by Anzu Partners and a $20 million Series A extension led by Valo Ventures and VoLo Earth Ventures. In March 2025, an additional $13 million was secured from Aligned Climate Capital and ClearSky. The company's investors span venture capital, infrastructure, and international industrial partners including Constellation Technology Ventures, BlueScopeX, and H&P.

In September 2025, XGS completed over 3,000 hours of commercial-scale field testing at the Coso geothermal field in California — the world's first field validation of a solid-state closed-loop geothermal system at commercial scale. Actual performance came within 2% of predicted values, a milestone that directly enables project financing and construction. XGS has signed a 150 MW agreement with Meta for geothermal energy to power New Mexico data centers, has assembled a pipeline exceeding 3 GW, and received U.S. Air Force permission to compete for clean energy projects at military bases. In 2025, it also acquired Capuano Engineering to strengthen its power plant development and infrastructure capabilities.