Factor2 Energy Secures $9.1M Seed Funding to Pioneer CO₂ Geothermal

Factor2 Energy has secured $9,100,000 in investment capital to advance its innovative geothermal energy technology. This funding round underscores growing interest in solutions that address the demand for sustainable and reliable baseload power. The company is focused on reimagining geothermal energy generation through its proprietary method, which utilizes CO₂ as the working fluid. This approach is designed to deliver emission-free, efficient, and baseload-capable electricity. Factor2 Energy achieves this by repurposing geological formations, including those naturally containing CO₂ or designated for carbon capture and storage (CCS), thereby transforming passive storage sites into active, sustainable energy resources. Factor2 Energy's technology leverages the unique thermophysical properties of CO₂ to unlock significantly more viable sites compared to conventional geothermal methods. A key aspect of its system is its operation without requiring fracking or new drilling technologies, instead building upon existing infrastructure and know-how. This distinct advantage positions the company to potentially expand the geographic reach and economic viability of geothermal power. The $9,100,000 in received funding will be strategically deployed to further develop Factor2 Energy's CO₂-based geothermal technology and expand its operational capabilities. The company plans to use the funds for growth initiatives aimed at accelerating its efforts to bring this innovative energy solution to market. This capital infusion is expected to support critical research, development, and scaling efforts as the company moves towards commercial deployment. This investment marks a significant step for Factor2 Energy as it works to establish a new generation of reliable, emission-free power. The company anticipates that this funding will enable substantial progress in its mission to contribute to the global transition towards sustainable energy and enhance the resilience of clean power grids.