The XGS Vitality crew (supply: XGS Vitality)
Subsequent-generation geothermal firm XGS Vitality has acquired world geothermal drilling and providers supplier Capuano Engineering Firm.
XGS Vitality, an innovator in next-generation geothermal power know-how and venture growth, has introduced its acquisition of Capuano Engineering Firm, a worldwide geothermal drilling and completion providers supplier.
With the extra experience of Capuano Engineering Founder, President, and CEO Louis (Lou) Capuano, Jr. and crew, XGS will advance its proprietary closed-loop heat-harvesting know-how to the sector and ship next-generation geothermal tasks throughout the globe.
XGS’ proprietary Thermal Attain Enhancement (TRE) system leverages supplies 50 instances extra thermally conductive than rock to ship high-efficiency closed-loop geothermal techniques. XGS’ know-how could be deployed anyplace on the earth, not like standard geothermal options that require entry to water reservoirs and particular geological situations.
“Lou Capuano is essentially the most technically and operationally skilled geothermal drilling engineer on the earth. His experience and capabilities are important as we start development of large-scale geothermal energy infrastructure tasks world wide,” mentioned Josh Prueher, CEO of XGS Vitality. “That is one other nice leap ahead in constructing the best-in-class know-how and operational crew to ship clear, dependable, and resilient geothermal power at scale.”
XGS Vitality had only in the near past accomplished a $20 million Collection A funding spherical to assist their first commercial-scale venture in California later this yr. Prior that, the corporate had secured $19 million in financing again in 2023, and one other $9.7 million in early 2024.
Capuano Engineering was based by President and CEO Lou Capuano, Jr., who is without doubt one of the most skilled and revered geothermal drilling and completion consultants on the earth. Along with his expertise drilling a whole bunch of geothermal wells globally, Lou has twice served because the President of the Geothermal Sources Council (now often called Geothermal Rising), the premier world commerce affiliation for the geothermal power trade. Together with Capuano Engineering Vice President Louis Capuano III, he has developed and led quite a few geothermal drilling programs to coach trade professionals and college students world wide.
By means of the acquisition, Capuano Engineering will change into a subsidiary of XGS whereas retaining its well-known model. “Capuano Engineering, an XGS Vitality Firm” will proceed to supply providers to conventional hydrothermal and next-generation geothermal builders and operators, whereas dedicating a portion of time to advancing XGS’ know-how and tasks.
“In my work with the XGS crew, I’ve persistently been impressed by the potential of their know-how to drive the subsequent wave of geothermal scale globally,” mentioned Lou Capuano, Jr. “By combining XGS’ disruptive know-how with our intensive operational expertise, I consider we’ve the chance to steer the next-generation geothermal market. I’m excited to be part of the way forward for geothermal.”
