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Factor2 Energy raised $9.1M to develop CO₂-powered geothermal energy with lower costs and higher efficiency.
German company Factor2 Energy has raised $9.1 million in seed funding to advance its CO₂-based geothermal technology, which uses carbon dioxide instead of water as a working fluid.
The system aims to generate more power than traditional geothermal methods under similar conditions, with lower capital costs and reduced mechanical complexity.
It leverages existing oil and gas technologies and can operate in natural CO₂ reservoirs or carbon capture storage sites.
The company plans to build a pilot plant to demonstrate scalability and enable continuous power generation through a closed-loop cycle.
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Factor2 Energy recaudó $9.1M para desarrollar energía geotérmica impulsada por CO2 con menores costos y mayor eficiencia.