# XGS Energy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/xgs-energy

- Industry: Renewable Energy
- Headquarters: Palo Alto, US
- Website: www.xgsenergy.com
- Total disclosed funding: $44M
- Latest round: Series A (May 17, 2024)
- Investors on record: 8

## About

Established in 2008 and based in California, US, XGS Energy, Inc. is a company that specializes in the production of clean and sustainable energy solutions. The company operates as a provider of geothermal systems, offering a range of services including installation, maintenance, and repair. Piotr D. Moncarz and David Seldin are the co-founders, and as of March 2023, Walter Kolbe serves as the CEO of the company. In March 2025, XGS Energy, Inc. raised USD 13 million in venture funding from new investors Aligned Climate Capital, ClearSky, Climate Innovation Capital, WovenEarth Ventures. Other unspecified investors also participated in the round. The company's primary product is geothermal heat pumps, which collects the natural heat energy from the earth to provide heating and cooling for residential and commercial buildings. The XGS Energy system recirculates the same water through a closed-loop, hermetically sealed system. These systems are environmentally friendly and offer long-term economic benefits to users. The company will use the March 2025 funding to support the development and enhancement of its project pipeline.

## Funding rounds

- Series A, May 17, 2024, $20M — Valo Ventures, Thin Line Capital, VoLo Earth Ventures, B Current Impact Investment, MIH Capital Management
- Series A, Jan 2, 2024, $10M — Constellation Energy Group, Thin Line Capital, BlueScope Steel Limited
- Series A, Mar 6, 2023, $14M — Anzu Partners

## Investors

- Anzu Partners (https://capitalatlas.ai/funds/anzu-partners) — Series A
- Constellation Energy Group — Series A
- Thin Line Capital (https://capitalatlas.ai/funds/thin-line-capital) — Series A
- BlueScope Steel Limited — Series A
- Valo Ventures (https://capitalatlas.ai/funds/valo-ventures) — Series A
- VoLo Earth Ventures (https://capitalatlas.ai/funds/volo-earth-ventures) — Series A
- B Current Impact Investment (https://capitalatlas.ai/funds/b-current-impact-investment) — Series A
- MIH Capital Management — Series A