The brief

Analyst view

• Rebranded from Geothermic Solution in 2023, XGS pivoted from R&D to commercial deployment.
• In 2026, appointed experienced executives from bp, Calpine for large-scale project delivery.
• Meta's 150 MW New Mexico deal is the largest commitment to closed-loop geothermal to date.

Technical approach

As reported

Coaxial well design

Single-well heat extraction

One directional well drilled to hot rock (250+ °C) hosts a pipe-in-pipe heat exchanger where working fluid circulates in a sealed loop.

Thermally conductive coating

Enhanced heat transfer

A proprietary mud layer around the well casing improves heat conduction from rock to circulating fluid.

Zero-loss circulation

Water independence

Working fluid recycles in a sealed loop, eliminating water consumption for deployment in arid regions.

Modular scalability

Distributed power

Each well is independent; capacity expands one well at a time, reducing capital requirements.

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