Critical Energy Secures $22 Million In Funding Led By Susa Ventures And Upfront Ventures

Critical Energy, a geothermal turbine startup founded by SpaceX alum Spencer Jackson, raised $22 million in early capital to develop modular turbines for next-generation geothermal plants. The funding round includes a $19 million seed led by Susa Ventures and Upfront Ventures, and $3 million in venture debt from Silicon Valley Bank.

Summary of transaction details:

• Deal Type: Investment
• Transaction Amount: $22,000,000
• Company: Critical Energy
• Founder: Spencer Jackson
• Investors: Susa Ventures, Upfront Ventures, MaC Venture Capital, Susquehanna Sustainable Investments, Humba Ventures, Scribble Ventures, Underground Ventures, and Silicon Valley Bank

Spencer Jackson serves as the CEO of Critical Energy, which aims to build its first 2.5-megawatt project as part of its initiative to enable faster, factory-built turbine deployment for geothermal energy expansion. The company has attracted notable investors from various sectors, reflecting a collective interest in advancing geothermal technology.