GEL secures £15 million funding from Kerogen Capital and Thrive Renewables

Geothermal Engineering Limited (GEL), a UK developer and operator of geothermal plants, has obtained £15 million funding from Kerogen Capital (£12 million) and Thrive Renewables (£3 million), subject to conditions. This will advance both the flagship project at the United Downs site in Cornwall and its Geogen geothermal development portfolio.

Geothermal Engineering Limited (GEL) has obtained £15 million funding from Kerogen Capital and Thrive Renewables

09 March 2023
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The new funding will be used to complete power production at GEL's United Downs plant by 2024, as well as prepare new geothermal sites in Cornwall which have recently received planning permission.

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