Tech Company Financing Transactions
Geothermal Engineering Funding Round
Geothermal Engineering closed a $18.1 million funding round on 3/8/2023. Investors included Kerogen Capital and Thrive Renewables.
Transaction Overview
Company Name
Announced On
3/8/2023
Transaction Type
Venture Equity
Amount
$18,051,000
Round
Undisclosed
Investors
Proceeds Purpose
The new funding will be used to complete power production at the United Downs plant by 2024, as well as prepare new geothermal sites in Cornwall which have recently received planning permission. In total, the investment will help to initiate 25 MWe of renewable electricity and 100 MWth of renewable heat across GEL's portfolio by 2028.
Company Information
Company Status
Private & Independent
Industry
Engineering
Mailing Address
Unit 3, Gate B United Downs Industrial Park St
Day Redruth, TR16 5HY
UK
Day Redruth, TR16 5HY
UK
Phone
Email Address
Overview
Geothermal Engineering is bringing the most experienced geothermal engineers together with leading industry partners to develop the UK's first large-scale geothermal energy plant in Cornwall. Geothermal Engineering's flagship UK project is a deep geothermal power plant located at the United Downs Site, near Redruth in Cornwall.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Founder
Ryan Law
Browse more venture capital transactions:
Prev: 3/8/2023: Coherent Logix venture capital transaction
Next: 3/8/2023: Humane venture capital transaction
Share this article
About Database of VC Transactions
We document all VC transactions involving tech companies. VC investment data records on this site are sourced from a variety of public sources. The data comes to us via our partnership with VentureDeal.com, an affiliated venture.
Additional Resources for Entrepreneurs