Geothermal Technologies, Inc. (GTI), a geothermal energy company, successfully closed its Series A Bridge Round financing today. This round will serve as a bridge between the company’s 2019-2020 Seed Round and its highly-anticipated Series B Round.
This financing puts the company on a strong path to the construction of a fully-operational geothermal demonstration facility in the Denver-Julesburg Basin in Colorado.
Gary McDaniel, CEO of GTI says: “The funding we have received from our Series A will allow us to continue to expand our world-class technical team, expand our intellectual property portfolio, and begin making preparations for the construction of our demonstration facility.”
McDaniel adds: “We are pleased to welcome our new investors, and even more pleased that many of our Seed Round investors continue to believe in our vision and in our technology and have contributed to our Series A with significant follow-on investments.”
About Geothermal Technologies, Inc.:
Geothermal Technologies (GTI) was founded in 2018 to commercialize technology that was developed at the Johns Hopkins University. GTI’s GenaSys™ Geothermal Energy Harvesting System revolutionizes how we harness renewable energy. GTI’s innovative technologies, when coupled with recently developed oil & gas and power generation technologies, enable the company to produce clean, renewable, low cost, baseload electricity, throughout the world, for decades to come.