XGS Energy and Meta to Partner on 150 MW Advanced Geothermal Project

XGS Energy, Inc. (XGS) and Meta Platforms, Inc (Meta) today announced an agreement to support development of 150 MW of next-generation geothermal energy in New Mexico, highlighting the critical role XGS will play in rapidly delivering reliable electricity to meet growing energy demand.

XGS Energy’s proprietary geothermal technology, which enables geothermal power production with zero operating water use, will be deployed to the PNM electric grid and support Meta’s data center operations in New Mexico, demonstrating that energy demand can be met with clean, water-independent baseload power.

“We’re pleased to support Meta’s ambitious AI objectives and accelerate access to new round-the-clock power supplies,” said Josh Prueher, Chief Executive Officer at XGS Energy. “More broadly, the state of New Mexico is a growing hub for data center development. We are eager to feed clean, water-independent geothermal power into the New Mexico market at a scale uniquely possible with XGS technology.”

XGS’s decoupling of geothermal energy production from historical location-based constraints such as water availability or permeable or porous rock opens new frontiers for geothermal energy development. Today, New Mexico has only one operating geothermal power plant. Yet, New Mexico sits atop some of the best hot rock resources in the country. XGS’s geographic flexibility enables direct production of electricity from these hot, but typically dry, rock resources. With this project alone, XGS is positioned to increase the total geothermal electricity produced in New Mexico by a factor of ten.

“Advances in AI require continued energy to support infrastructure development,” said Urvi Parekh, Global Head of Energy at Meta. “With next-generation geothermal technologies like XGS ready for scale, geothermal can be a major player in supporting the advancement of technologies like AI as well as domestic data center development. We’re excited to partner with XGS to unlock a new category of energy supply for our operations in New Mexico.”

The spotlight is growing on the geothermal opportunity in New Mexico. A new report released today, "The Future of Geothermal in New Mexico," by Project InnerSpace, New Mexico Tech, and the New Mexico Bureau of Geology and Mineral Resources, identifies over 160 GW of untapped geothermal potential in the state.

“New Mexico is not only the second-largest oil and gas producer in the U.S., but also one of the nation’s leading sources of clean energy,” said Gov. Lujan Grisham. “We’ve worked hard to ensure New Mexico remains at the forefront of the energy transition, and geothermal energy represents a promising new frontier. Project InnerSpace’s report outlines both the scale of New Mexico’s geothermal potential and practical steps to develop it. XGS Energy and Meta’s 150 MW project will create good-paying jobs, strengthen our grid with reliable baseload power, and position our state as a national leader in next-generation renewable energy.”

The two-phased 150 MW agreement will include an initial smaller phase, and a second, larger phase, both projected to be operational by 2030. Both phases will be sited in New Mexico on the PNM electric grid. “We’re proud to support this innovative, carbon-free project from Meta and XGS Energy,” said PNM President and CEO Don Tarry. “This project is a meaningful step toward meeting New Mexico’s clean energy goals and demonstrates the power of advanced technology to shape our energy future.”

The agreement marks the latest pioneering energy initiative by Meta, which is one of the world’s largest corporate buyers of clean energy, and builds on a series of recent advancements at XGS as the company rapidly scales to deliver on a multi-gigawatt global pipeline.

About XGS Energy

XGS Energy provides Clean, Round-the-Clock Energy Everywhere, Forever. XGS's proprietary solid-state geothermal system uses thermally conductive materials to deliver affordable energy anywhere there is hot rock. The XGS system decouples geothermal energy production from its historical dependence on natural water resources and geological conditions, unlocking low-risk power project development, geographic flexibility, easier permitting, and faster deployment. XGS’s scalable, financeable geothermal energy approach is supported by leading investors globally including Aligned Climate Capital, Anzu Partners, BlueScopeX, B Current Impact Investment, ClearSky, ClimateIC, Constellation Technology Ventures, H&P, MIH Capital, Thin Line Capital, Valo Ventures, VoLo Earth Ventures, and WovenEarth Ventures. Learn more and explore our open roles at https://www.xgsenergy.com.

About Meta Platforms, Inc. (Meta)

Meta, formerly known as Facebook Inc., is a social technology company that develops technologies to help people connect, find communities, and grow businesses. Meta’s products and services include Facebook, Instagram, Oculus, Messenger, and WhatsApp. Meta is headquartered in Menlo Park, California. For more information, visit www.meta.com.

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