SpaceX Alum Secures $22M to Fast-Track Geothermal Power

Critical Energy CEO Spencer Jackson, who previously worked on the Raptor engine for Starship, is applying aerospace manufacturing logic to the geothermal sector. The startup’s strategy addresses a persistent industry flaw: the reliance on massive, site-assembled turbines that can take years to complete. By shifting production to factory-built modular units, Jackson intends to shrink construction timelines significantly.

The initial $22 million capital injection—consisting of $19 million in seed funding and $3 million in venture debt—will support the construction of a 2.5-megawatt pilot project. This plant is slated for completion by 2027 at a site mirroring the conditions of Northern California’s The Geysers or Icelandic fields. Beyond this, the company is already engineering a 5-megawatt module designed for deep-drilling enhanced geothermal firms like Fervo Energy.

Jackson maintains that geothermal is poised to outpace the nuclear industry, which typically targets the early 2030s for commercial viability. With global energy demand surging from data centers, Critical Energy views the oil and gas sector as a potential partner, provided the industry can overcome the looming turbine shortage. If successful, the company aims to scale production to 300 gigawatts annually by 2045, positioning modular turbine technology as a cornerstone of the future grid.