Factor2 Energy raises $9.1M to unlock CO₂ geothermal power - Tech.eu

Factor2 Energy, a German geothermal innovator, has raised a $9.1 million seed round led by At One Ventures, with participation from High-Tech Gründerfonds, Gründerfonds Ruhr, Verve Ventures, and Siemens Energy Ventures. Factor2 Energy is a climatetech company developing geothermal power systems that use CO₂ as the working fluid to tap moderate-temperature resources, delivering up to twice the output of conventional designs while avoiding fracking, ultra-deep drilling, and water-intensive processes. Its mission is to unlock scalable, clean, baseload geothermal power while enabling permanent carbon storage. The company is led by Michael Wechsung, Joerg Strohschein, and Felix Boehmer, who previously worked together at Siemens Energy, where they pioneered an economically superior approach that replaces water or brine with CO₂ in the geothermal cycle. Factor2’s CO₂-based system converts natural CO₂ reservoirs and CCS storage sites into reliable baseload power via a closed-loop thermosiphon

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