Vancouver-based Evok Innovations is leading a US$38-million Series A investment in Rodatherm, a geothermal startup with operations in Calgary and headquarters in Salt Lake City. The round also drew support from Toyota Ventures, TDK Ventures, and others.
Led by Calgary energy entrepreneur Curtis Cook, Rodatherm will use the capital to test its refrigerant-based closed-loop system at a Utah facility. Unlike water-based geothermal, the approach harnesses subsurface heat more efficiently to generate electricity. With tax incentives and policy support, U.S. geothermal adoption is accelerating, particularly as AI data centres drive energy demand.
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