2026 Geothermal Investment Forum

Join us for this two-day event, April 7-8, 2026.

Date

Apr 07, 2026

Location

Marriott Marquis Houston

Forum

Geothermal Rising Event

Forum Overview

Join Geothermal Rising (GR) and the International Geothermal Association (IGA) for the 2026 Geothermal Investment Forum designed to bring together stakeholders— investors, entrepreneurs, policymakers, and industry experts—to facilitate collaboration, investment opportunities, and innovation across the broad spectrum of geothermal technologies.

Why Attend?

Map Geothermal Investment: Delve into the growth potential, trends and opportunities in the geothermal space.
Analyze Industry Trends: Gain insights with market analysis and forecasts while examining the dynamics of the geothermal ecosystem.
Network with Key Stakeholders: Connect with investors, entrepreneurs, innovators and other geothermal stakeholders to build relationships that can lead to future partnerships.

Don’t miss this unique opportunity! Contact Kerry Fellers for more information.

Forum Information

Agenda

Detailed Agenda

Tuesday, April 7

7:30 AM – 5:00 PM | Registration

9:00 AM – 10:00 AM | Opening Plenary Session

Keynote – Mapping the Future of Geothermal Energy: Dr. Medlock will provide a concise, data-driven overview of the global geothermal market and key growth regions. He will also explore the geopolitical and economic forces shaping market development—from energy security priorities and shifting trade dynamics to policy frameworks, capital flows, and supply chain considerations. Attendees will gain a clearer understanding of how global trends are influencing investment, deployment, and the strategic role geothermal can play in a rapidly evolving energy landscape.

Keynote Speaker:

Ken Medlock, Senior Director of the Center for Energy Studies, Rice University

Keynote - Why Now for Geothermal? Unlocking the Next Era of Energy Investment and Innovation: Join us for a keynote address by a leading institutional investor who is helping shape the future of energy markets. Drawing from real-world experience in scaling investments across emerging technologies, this session will explore how institutional capital is approaching the geothermal sector and adjacent opportunities. Attendees will gain insights into what drives large-scale investment decisions, how risk and return are evaluated in the energy transition, and why geothermal is increasingly seen as a critical pillar for sustainable, resilient infrastructure. This keynote will offer strategic perspectives for anyone looking to understand where smart money is heading—and why now is the time to act.

Keynote Speaker:

Suhrid Mantravadi, Partner, Grey Rock Investment Partners

10:00 AM- 10:30 AM | Networking Break

10:30 AM – 12:00 PM | Panel: Evaluating Geothermal Projects/Assets for Investment: Risks, Rewards, and Realities

Investing in geothermal energy requires a thorough understanding of resource potential, project economics, and risk factors. This panel will provide a deep dive into the key criteria for evaluating geothermal projects and assets, from geological assessments and technological feasibility to financial modeling and regulatory considerations. Industry experts and investors will discuss best practices for due diligence, risk mitigation strategies, and how to align investment decisions with planned returns and timeline. Whether you’re a seasoned investor or new to geothermal, this session will equip you with the tools to make informed investment choices in this growing sector.

Moderator: Mike Matson, Partner & Associate Director, Low Carbon Solutions Global Lead of Geothermal, BCG

Panelists:

Joey Husband, Senior Advisor, Nabors Energy Transition Ventures, Nabors
Jesper Jolma, President at Baseload Power US, Baseload
Florent Rousset, Geothermal Vice President, New Energies, Baker Hughes
Kerry Sandhu, Director North America, Ad Terra
Nick Williams, Managing Director & Head of Infrastructure, Americas, EIG Partners
Elizabeth Wolfe, Sr. Consultant, Energy Dominance Financing, DOE

12:00 PM – 12:30 PM | Fireside Chat: Investment in Practice: Innovative Energy Storage

This session will feature a candid conversation on a project at the forefront of clean energy innovation. Together, they will explore how capital is being deployed into projects that integrate geothermal solutions into the built environment—featuring an investment in a water park utilizing geothermal storage for efficient, year-round energy management. They will share firsthand perspectives on how investment decisions are made, how partnerships are structured, and how emerging technologies are scaled in real time. Attendees will gain valuable insights into the challenges, successes, and lessons learned from bringing innovative, revenue-generating energy projects to market, offering a compelling look at how geothermal can unlock new value in real estate development.

Moderator: Chris Mudd, Managing Partner, Chiron Financial

Speakers:

Brooks Brydges, Founding Partner, Cardiff Capital Collab, LLC
Jay Egg, President, Egg Geo

12:30 PM – 1:30 PM | Networking Lunch

1:30 PM – 2:00 PM | Plenary Keynote: Betting on the Heat: How Investors are Powering Geothermal’s Rise

Capital is increasingly flowing into the geothermal sector as investors recognize its potential to deliver reliable, baseload clean energy alongside attractive, long-term returns. Driven by rising demand for energy security, supportive policy frameworks, and advances in drilling and subsurface technologies, geothermal is gaining attention from institutional investors, private equity, and infrastructure funds. This keynote will reflect the growing momentum and broader shift toward diversified, resilient energy portfolios, signaling expanding opportunities across both traditional projects and emerging applications.

Keynote Speaker:

Torsten Kolind, Co-Founder & CEO, Underground Ventures

2:00 PM – 2:30 PM | Fireside Chat: Funding Next Generation Development

This fireside chat will explore how next-generation geothermal projects are being financed, bringing together perspectives from investors and developers at the cutting edge of the sector. The conversation will highlight emerging funding models, risk mitigation strategies, and what it takes to attract capital to innovative geothermal technologies, offering practical insights into scaling the next wave of development.

Moderator: Thomas Shattuck, Attorney, Clifford Chance US LLP

Speakers:

Henk Both, Principal, Anzu Partners
Lucy Darago, Chief Commercial Officer, XGS

2:30 PM – 3:00 PM | Networking Break

3:00 PM – 4:00 PM | Panel: Utility Buyer Drivers for Geothermal Development: Meeting Demand with Reliable, Renewable Energy

As utilities work to meet clean energy mandates, enhance grid reliability, and provide cost-effective power to customers, geothermal energy is emerging as a key solution. This panel will explore the factors driving utility interest in geothermal, including baseload reliability, resource adequacy, long-term price stability, and regulatory incentives. Power experts will discuss what utilities look for in geothermal projects, how developers can align with utility needs, and the role of geothermal in future energy portfolios. Attendees will gain valuable insights into market trends, procurement strategies, and pathways for expanding geothermal’s role in the energy mix.

Moderator: Andrew Coleman, Executive Director, Corporate, Affairs, EPRI

Panelists:

Pete Franetovich, President, Zenergy
Taylor Moot, Senior Innovation Technology Consultant, Xcel Energy
Nortey Yeboah, Principal Engineer, Southern Company

4:00 PM – 4:30 PM | Fireside Chat: Partnering with Service Companies - Lessons from the Front Lines

This fireside chat will explore innovative models, non-traditional partnerships, and creative pathways to support the growth of geothermal startups. Bringing together a start-up and global service company leader the discussion will highlight how collaborations within the energy ecosystem can unlock new markets and accelerate commercialization. Attendees will gain insight into strategic alliances and the evolving ecosystem helping early-stage geothermal companies scale and succeed.

Moderator: Stephanie Wisner, Managing Director | Global Banking & Markets, Goldman Sachs & Co. LLC

Speakers:

Nitin Goel, Vice President of New Energy Strategy, SLB
Kirsten Marcia, President/CEO, DEEP Earth Energy Production Corp.

4:30 PM – 6:00 PM | Networking Reception

Join us for an evening of connection and collaboration with leaders from across the geothermal, energy, and investment communities. This informal networking reception offers a valuable opportunity to meet fellow attendees, share insights, and build relationships that can spark new partnerships and projects. Whether you're local to the region or visiting from out of town, come enjoy great conversations, refreshments, and regional hospitality.

Wednesday, April 8

7:30 AM – 3:00 PM | Registration

9:00 AM – 9:30 AM | Morning Plenary Session – Keynote: Financing Geothermal’s Missing Middle

Subsurface risk in next-generation geothermal is widely misunderstood to be “all-or-nothing”, leading investors and policymakers to apply outdated risk frameworks that no longer reflect technological reality. A more accurate framing, given today’s advanced technologies, is that subsurface risk consists of both binary resource risk and non-binary appraisal uncertainty. Unlike their conventional counterparts, next-generation geothermal developers use technologies that have dramatically reduced resource risk—the risk that usable heat does not exist. Instead, their dominant uncertainty lies in appraisal uncertainty: whether engineered wells can be drilled repeatedly, at predictable cost, and deliver stable heat output over time. Appraisal uncertainty is non-binary, engineering-driven, and only resolvable through capital-intensive early drilling. Today, capital markets provide funds for investments in unconventional oil & gas, with similar risks but much larger near-term upside. However, the relatively lower utility-scale returns of geothermal projects mean that capital isn’t as available for the geothermal industry. This keynote will outline the scope of this market gap and highlight potential investment policy strategies, such as appraisal drilling insurance, that can overcome such a gap.

Keynote Speaker:

Mike O'Connor, Director, Western States Geothermal Consortium Deputy Director, Energy Programs, Center for Public Enterprise

9:30 AM – 10:30 AM | Panel: Investing in the Heat Beneath: Structures, Risk, and Opportunity

With rising demand for sustainable baseload power—especially from energy-hungry sectors like data centers—geothermal is uniquely positioned for scalable growth. Our panel will explore emerging deal structures that align geothermal assets with the needs of infrastructure, creating long-term, de-risked investment opportunities. Experts will also address how insurers are evolving to back greenfield developments and next-gen geothermal technologies, improving bankability and accelerating project timelines. Finally, we’ll also address how permitting and regulatory frameworks vary across key geothermal markets in the U.S. and what that means for project execution and capital deployment. If you're looking for strategic entry points into a resilient and rapidly growing market, this conversation is not to be missed.

Moderator: Derek Dixon, Vice President Business Development, GreenFire Energy

Panelists:

Travis Annatoyn, Counsel, Arnold & Porter
Matt Bormann, Head of North America Clean Technology, Moelis
Justin Treat, Senior Vice President, Oil & Gas, CAC Specialty
Marcus Oesterberg, Chief Operating Officer, Ignis Energy

10:30 AM – 11:00 AM | Networking Break

11:00 AM – 11:30 AM | Fireside Chat: Building an Investor Base for New Innovation

This fireside chat will spotlight a leading geothermal startup and the journey behind securing a roster of high-profile investors. The conversation will explore how the company positioned its technology, built credibility, and navigated the fundraising landscape to attract strategic capital. Attendees will gain practical insights into investor expectations, storytelling, and the key factors that can elevate a startup from early-stage innovation to a compelling investment opportunity.

Moderator: Alix Steel, Principal, Drive Path Advisors

Speakers:

Karim Hemani, Chief Financial Officer, Sage Geosystems
Geet Bhatt, Director of Investment Banking, Barclays

11:30 AM – 12:30 PM | Panel: Acquisitions, Alliances, and Partnerships

This panel will examine how strategic acquisitions, alliances, and partnerships are accelerating geothermal market growth and shaping the future of the industry. Panelists will share insights on what drives successful collaborations between operators, investors, and technology providers—whether through M&A, joint ventures, or structured partnerships. The conversation will highlight how these relationships can unlock capital, reduce risk, scale deployment, and foster innovation across the geothermal value chain. For those looking to understand how strategic alignment fuels expansion, this session offers actionable perspectives from leaders on the front lines.

Moderator: Sean Marshall, Business Development Manager – Renewables & Energy Efficiency, SLB

Panelists:

Oritsegbubemi Bafor, Technology Delivery Director Renewables and Energy Efficiency, SLB
John Bakht, Partner, Norton Rose Fulbright
Antonio Montero Perez, Executive Director Sustainability & Low Carbon Transition Advisory USA, BBVA
Julia Wright, Board Chair, Hephae Energy Technology

12:30 PM – 1:30 PM | Networking Lunch

1:30 PM – 2:00 PM | Fireside Chat: Investing in Cutting-Edge Technology

This fireside chat will bring together an investor and a startup founder to explore what it takes to fund and scale breakthrough technologies for the most ambitious frontier of in geothermal, superhot rock development. The conversation will highlight how investors evaluate high-risk, high-reward innovations, the technical and commercial milestones required to unlock capital, and the collaborative approaches needed to advance next-generation geothermal solutions. Attendees will gain insight into how cutting-edge ideas are moving from concept to investment-ready opportunities.

Moderator: Philip Ball, Director, GEA

Speakers:

Torsten Kolind, Co-Founder & CEO, Underground Ventures
Steve Krase, Chief Executive Officer, Hephae Energy Technology

2:00 PM – 3:00 PM | Panel: Smart Growth: Navigating Bolt-on Acquisitions in Geothermal

As geothermal gains traction in the clean mix, bolt-on acquisitions may be emerging as a strategic lever for scaling innovation, accelerating deployment, and maximizing asset value. This panel brings together investors, developers, and technology leaders to unpack what makes a geothermal project or solution a smart acquisition target. From identifying strategic fit and commercial viability to managing risk and unlocking synergies, panelists will share real-world insights on how bolt-on deals are shaping the next phase of geothermal growth. Whether you're building, buying, or scaling, this session offers practical guidance on how to use acquisitions to drive results.

Moderator: Brian Smith, Director, Strategy, Baker Hughes

Panelists:

Torsten Kolind, Co-Founder & CEO, Underground Ventures
Greg Leveille, Chief Executive Officer, Tidal Wave Technologies, LLC
Tim Ong, Partner, Worley

3:00 PM – 3:15 PM | Networking Break

3:15 PM – 6:00 PM | Startup-Investor Speed Networking Session

Designed to spark meaningful connections quickly, this high-energy "speed dating" session matches geothermal startups with investors for a series of rapid one-on-one conversations. Each meeting offers a chance to pitch, ask questions, and explore potential partnerships in a focused, time-efficient format. Whether you're an investor looking for your next opportunity or a startup seeking strategic capital, this session is built to accelerate introductions and open the door to deeper discussions. Be ready with your elevator pitch—and plenty of business cards!

Travis Annatoyn, Counsel, Arnold & Porter
Oritsegbubemi Bafor, Technology Delivery Director Renewables and Energy Efficiency, SLB
John Bakht, Partner, Norton Rose Fulbright
Geet Bhatt, Director of Investment Banking, Barclays
Henk Both, Principal, Anzu Partners
Matt Bormann, Head of North America Clean Technology, Moelis
Philip Ball, Director, GEA
Brooks Brydges, Founding Partner, Cardiff Capital Collab, LLC
Elizabeth Cambre, North America Business Development Manager for New Energies, Vallourec
Andrew Coleman, Executive Director, Corporate, Affairs, EPRI
Lucy Darago, Chief Commercial Officer, XGS
Derek Dixon, Vice President Business Development, GreenFire Energy
Jay Egg, President, Egg Geo
Pete Franetovich, President, Zenergy
Nitin Goel, Vice President of New Energy Strategy, SLB
Karim Hemani, Chief Financial Officer, Sage Geosystems
Joey Husband, Senior Advisor, Nabors Energy Transition Ventures, Nabors
Jolma Jesper, President at Baseload Power US, Baseload
Rob Klenner, President, GreenFire Energy
Torsten Kolind, Co-Founder & CEO, Underground Ventures
Steve Krase, Chief Executive Officer, Hephae Energy Technology
Greg Leveille, Chief Executive Officer, Tidal Wave Technologies, LLC
Suhrid Mantravadi, Partner, Grey Rock Investment Partners
Kirsten Marcia, President/CEO, DEEP Earth Energy Production Corp.
Sean Marshall, Business Development Manager – Renewables & Energy Efficiency, SLB
Mike Matson, Partner & Associate Director, Low Carbon Solutions Global Lead of Geothermal, BCG
Ken Medlock, Senior Director of the Center for Energy Studies, Rice University
Taylor Moot, Senior Innovation Technology Consultant, Xcel Energy
Chris Mudd, Managing Partner, Chiron Financial
Mike O'Connor, Director, Western States Geothermal Consortium Deputy Director, Energy Programs, Center for Public Enterprise
Marcus Oesterberg, Chief Operating Officer, Ignis Energy
Tim Ong, Partner, Worley
Antonio Montero Perez, Executive Director Sustainability & Low Carbon Transition Advisory USA, BBVA
Florent Rousset, Geothermal Vice President, New Energies, Baker Hughes
Kerry Sandhu, Director North America, Ad Terra
Thomas Shattuck, Attorney, Clifford Chance US LLP
Jonathan Sisto, Managing Director, Investment Banking, Energy Transition, RBC
Brian Smith, Director, Strategy, Baker Hughes
Alix Steel, Principal, DrivePath Advisors
Justin Treat, Senior Vice President, Oil & Gas, CAC Specialty
Nick Williams, Managing Director & Head of Infrastructure, Americas, EIG Partners
Stephanie Wisner, Managing Director, Global Banking & Markets Energy Technology Investment, Goldman Sachs & Co. LLC
Elizabeth Wolfe, Sr. Consultant, Energy Dominance Financing, DOE
Julia Wright, Board Chair, Hephae
Nortey Yeboah, Principal Engineer, Southern Company

Additional speaker announcements forthcoming!

Learn more about our confirmed speakers!

Sponsorship Opportunities

Geothermal Investment Forum Co-Hosts

2026 Geothermal Investment Forum

Agenda

Detailed Agenda

Hotel & Travel

Registration

Speakers

Sponsorship Opportunities