The final close was led by Valo Ventures and VoLo Earth Ventures, and included financing from new investors B Current Impact Investment, MIH Capital, and individual inside investors, as well as additional funding from existing investor Thin Line Capital. This new financing builds on the $9.7 million round led by Constellation Technology Ventures earlier this year, and the $14M Series A investment led by Anzu Partners.

XGS Energy provides Clean, Round-the-Clock Energy Everywhere, Forever. XGS's proprietary solid-state geothermal system uses thermally conductive materials to deliver affordable energy anywhere there is hot rock. The XGS system decouples geothermal energy production from its historical dependence on natural water resources and geological conditions, unlocking low-risk power project development, geographic flexibility, easier permitting, and faster deployment.