Investment Boost for Critical Energy
On June 17, 2026, at 21:45, it was announced that Critical Energy, a startup founded by a former SpaceX employee, has secured $22 million to develop geothermal turbines using rocket engine technology. The news was reported by TechCrunch. The company's first project will have a capacity of 2.5 megawatts, with the initial plant planned for construction by 2027 in either Iceland or Northern California. This funding highlights a growing trend of aerospace expertise being applied to renewable energy solutions.
Innovations and Startup Goals
The founder of Critical Energy, Spencer Jackson, previously worked at SpaceX, where he contributed to the development of the Falcon Heavy, Starship, and the Raptor engine. Currently, the startup's engineers are building a 5-megawatt unit for Fervo Energy. Jackson expressed optimism, stating that
“in four or five years, we will be producing many gigawatts per year”and noted that the company
“is looking for the fastest path to gigawatts of scalable power on the grid”.
Critical Energy's long-term goal is to achieve a capacity of 300 gigawatts per year by 2045. The planet's geothermal potential stands at 42 terawatts, offering significant opportunities for new technology development. These innovations are expected to be capable of powering two-thirds of new data centers by 2030.
The investment in Critical Energy underscores the rising interest in renewable energy sources, particularly geothermal power, which holds substantial promise for a sustainable energy future. By leveraging expertise from rocket technology, this startup could play a key role in reducing reliance on fossil fuels and combating climate change. Achieving such ambitious targets could transform the energy sector in the coming decades.