Kendra Rauschenberger, general partner at Siemens Energy Ventures, commented: “I am pleased to see this technology progressing toward commercialization, following its development within Siemens Energy Ventures. Geothermal energy is a reliable and renewable power source, and we will work with Factor2 Energy to tailor our turbines to meet the specific needs of this emerging market.”
Factor2 Energy’s system can operate with either natural CO₂ reservoirs or those designated for Carbon Capture and Storage (CCS). The process involves injecting CO₂ into deep porous formations where it is securely stored. As the CO₂ absorbs geothermal heat from surrounding rock, its density decreases, creating a buoyancy-driven circulation known as the thermosiphon effect. This natural movement brings the CO₂ to the surface through production wells without requiring subsurface pumps, cutting parasitic energy consumption and mechanical complexity.
At the surface, heat is converted into electricity using a direct-driven CO₂ turbine system. After expansion, the CO₂ is cooled and reinjected, establishing a closed cycle that enables continuous electricity generation while ensuring long-term storage. Compared with conventional water-based geothermal systems, Factor2 Energy’s approach can generate up to double the power output under similar conditions, while lowering capital costs.
CEO and co-founder Felix Boehmer highlighted the benefits of the concept: “Our approach enables emission-free, efficient, and baseload-capable electricity production, which is ideal for traditional oil and gas companies looking to diversify their operating assets. And in fact, the entire system leverages proven technologies from the oil and gas sector, with its long history of drilling and geologic expertise.”
The technology extends the range of viable geothermal projects by making it possible to utilize shallower and cooler sites that are unsuitable for conventional methods. This reduces drilling costs and broadens opportunities for deploying geothermal power plants. In addition, the system avoids secondary fluids or complex binary cycles, simplifying operations. By applying the method to both CCS-designated formations and natural CO₂ reservoirs, Factor2 Energy seeks to transform these geological structures into productive energy assets.
The seed funding marks a milestone in the company’s growth, providing resources to validate its technology through pilot-scale demonstration and paving the way toward broader commercial deployment in the renewable energy market.
