Factor2 Energy is a Duisburg-based climate-tech company pioneering the use of carbon dioxide as the working fluid in geothermal power generation. By injecting CO₂ into deep porous formations, the company exploits the thermosiphon effect to circulate the gas, extract heat, and drive a direct CO₂ turbine, creating a closed-loop system that simultaneously stores the gas underground. Management claims the approach can produce up to twice the power of conventional water-based geothermal plants under comparable geological conditions while reducing capital expenses and eliminating fracking, ultra-deep drilling, and water-intensive processes. The technology also unlocks previously uneconomic sites by working efficiently in shallower and cooler reservoirs, including locations designated for carbon capture and storage. Factor2 Energy intends to use its newly raised capital to advance R&D and construct a pilot power plant to validate commercial scalability. Although still pre-revenue, the company’s proof of concept in a complex geological setting and backing from leading climate investors position it to supply reliable, baseload-capable green electricity and support permanent CO₂ storage.

Total raised

$9M

Funding rounds

1

Latest round

Seed

Latest activity

Sep 2025