Factor2 Energy Raises $9.1M to Revolutionize Geothermal Power with CO2
Factor2 Energy, a German startup, has successfully raised $9.1 million in a seed funding round. The company, founded by former Siemens Energy employees Michael Wechsung, Jörg Strohschein, and Felix Böhmer in 2025, aims to revolutionize geothermal power generation using CO2.
The funding round was led by At One Ventures, with support from High-Tech Gründerfonds, Gründerfonds Ruhr, Verve Ventures, and Siemens Energy Ventures. Factor2 Energy will use the capital to advance its CO2-based geothermal power generation system and develop a pilot power plant.
Factor2 Energy's innovative technology reduces drilling costs and expands potential power plant locations by accessing flatter and cooler geothermal sites. It uses CO2 as the primary working fluid, replacing water or brine, and can be deployed in natural CO2 reservoirs or designated carbon capture and storage sites. This approach allows for emission-free, efficient, and baseload power generation, appealing to traditional oil and gas companies seeking to diversify their energy sources. Under similar geological conditions, Factor2 Energy's method can achieve up to twice the power output of conventional water-based systems while requiring lower capital costs. Moreover, it simplifies operations by making secondary fluids or complex binary systems unnecessary.
With the successful seed funding round, Factor2 Energy is poised to advance its groundbreaking CO2-based geothermal power generation system. The company's innovative approach promises to expand the range of potential geothermal power plant locations, reduce costs, and increase efficiency, contributing to a cleaner and more sustainable energy landscape.
Read also:
- Reconsidering the Approach to Mountain Height Measurement?
- UK automaker, Jaguar Land Rover, to commit £500 million for electric vehicle manufacturing in Merseyside
- Lieutenant Governor Kounalakis joins SoCalGas in unveiling the novel H2 Hydrogen Innovation Experience, a one-of-a-kind demonstration.
- Agroforestry Carbon Capture Verified Through Digital Measurement and Verification Process
