Overview

• At One Ventures led the seed round with participation from High-Tech Gründerfonds, Gründerfonds Ruhr, Verve Ventures and Siemens Energy Ventures.
• New funding is directed to building a pilot power plant to validate scalability of Factor2’s closed-loop, thermosiphon-driven design.
• The system injects CO₂ into deep formations where it heats and rises by buoyancy to drive a direct CO₂ turbine before cooling and reinjection in a closed cycle.
• Factor2 says the approach can deliver up to twice the output of water-based geothermal systems and expand development to shallower, cooler sites with lower complexity and capex.
• The company targets both natural CO₂ reservoirs and CCS sites for baseload power with long-term CO₂ storage, and it is led by ex–Siemens Energy engineers Michael Wechsung, Joerg Strohschein and Felix Boehmer in Duisburg, Germany.