– USA, CA – XGS Energy, a leader in geothermal energy technology, today announced that it has secured $19M financing, including a $14M Series A led by Anzu Partners. XGS Energy will use this funding to develop its geothermal heat harvesting technology.
In connection with the new financing, four new directors joined the Board:
- Martin Craighead, former Chairman and CEO of Baker Hughes.
- Ray Mabus, former U.S. Secretary of the Navy and former U.S. Ambassador to the Kingdom of Saudi Arabia. During his eight years as Secretary of the Navy, Secretary Mabus initiated major energy security and sustainability programs for the U.S. Navy and Marine Corps.
- Dr. Khalid Alsweilem (Ph.D.), former Chief Counsellor and Director General of Investment at SAMA, the Central Bank of the Kingdom of Saudi Arabia.
- David Seldin, Managing Partner at Anzu Partners.
About XGS Energy
XGS Energy is a geothermal energy company founded and headquartered in Palo Alto, CA. The company’s proprietary heat harvesting technology and closed-loop well architecture enables global deployment of terawatt-scale geothermal heat and power.
For more information: https://www.xgsenergy.com/
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