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Meta is the latest tech company to embrace geothermal energy, teaming up with startup XGS Energy to work on a 150-megawatt geothermal power plant in New Mexico. Details are still scarce, but the agreement aims to advance geothermal energy development in the state, according to a Meta spokesperson.
Geothermal technology has been gaining traction among tech companies, data center developers, and investors due to its ability to generate emissions-free electricity 24/7. Advanced geothermal, which taps into hotter rocks deep underground, has the potential to satisfy a significant portion of new data center energy needs in the U.S. by 2030.
While many geothermal startups use open-loop designs that result in water loss over time, XGS Energy employs a closed-loop system inside a sealed well to minimize water loss. The company also utilizes a proprietary mud to enhance heat transfer from the rocks to the loop.
The collaboration between XGS Energy and Meta is just one of several partnerships forming in the geothermal energy sector. Other players, such as Fervo Energy and Baseload Capital, have also made significant strides in geothermal energy development, with some even eyeing potential public offerings in the near future.
