Ignis H2 Energy Inc. (Ignis Energy), a company specialising in geothermal exploration and development, announced the final closure of its Series A funding round totalling $13.6mn. This financing brings together several international investors and aims to further develop the company’s global geothermal portfolio.
An international consortium of investors
The funding round, initially announced in February, was led by sustainable energy investor alfa8. The investor group also includes drilling contractor Nabors Industries, climate technology specialist The Twynam Group, GEOLOG, as well as several private investors and family offices. These funds will enable Ignis Energy to bring its major projects to technical maturity, a prerequisite for more capital-intensive development phases.
Ignis Energy focuses on selecting, securing, and commercially exploiting economically viable geothermal resources. The company adopts a globally diversified and balanced approach to minimise operational risks. Its portfolio currently includes significant geothermal projects in the United States and Türkiye, identified as priority areas for their geothermal resource potential.
A pragmatic approach based on proven technologies
Ignis Energy CEO Richard Calleri stresses the importance of resource quality: “In a market focused on spectacular breakthroughs, Ignis Energy brings attention back to geology. Without proven heat in the ground, no scaling is possible. Our job is to find, prove, and exploit these resources.”
Guillermo Sierra, Vice President of Strategic Initiatives at Nabors Industries, highlights Ignis Energy’s demonstrated operational effectiveness: “Ignis Energy has already proven its ability to execute its strategy quickly and efficiently. We look forward to continuing this fruitful collaboration on current and future projects.”
Technological adaptation according to regional specificities
Ignis Energy leverages decades of experience in the oil and gas sector to secure investments in high geothermal potential regions. The company uses conventional hydrothermal system methods as well as emerging techniques like Enhanced Geothermal Systems (EGS) and Advanced Geothermal Systems (AGS). This “fit-for-resource” approach allows each project to be precisely matched with the most effective technology, according to local reservoir characteristics.
This funding round strategically positions Ignis Energy to realise its priority projects, while preparing for future investment-intensive development phases. The geothermal energy sector is closely monitoring the company’s next operational steps, likely to serve as key indicators for the evolution of this market internationally.
