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Europeans have enjoyed it for years. Now, through careful state interventions and creative salesmanship from startups, Americans are close to having their turn.

For U.S. consumers, going solar is usually a major undertaking, involving tens of thousands of dollars, months of logistics, a slew of financing options, and ever-changing incentives.
But in Germany, upwards of a million customers — homeowners and renters alike — are simply plugging in small, affordable solar arrays to standard power outlets. These small systems are, by law, 800 watts or less, a fraction of the size of a typical rooftop solar system in the U.S. Often called “balcony solar,” these panels can live essentially anywhere with sufficient sunlight: on balconies or patios, or mounted on exterior walls or flat rooftops.
But while governments across the EU have simplified regulations to make installation a quick, DIY process, and utility approval little more than a formality — unleashing a wave of consumer demand in the process — the U.S. has so far failed to follow suit. Here, utility regulations prohibit customers from feeding power back into the grid without a formal interconnection agreement, a process that involves lots of time and paperwork.
Utilities in the U.S. want to account for all electricity sources on the grid, since theoretically, even small plug-in systems could have a cumulative impact on local voltage and power quality, whereas in Germany, for example, this is less of a concern. There, plug-in solar-specific policy caps these systems’ generating capacity, and the grid and metering infrastructure has been more extensively modernized to handle distributed energy generation.
Now, however, there are a number of domestic plug-in solar startups finding creative ways to navigate the constraints of the U.S. market. One of them, the nonprofit Bright Saver, announced on Wednesday that it’s raised $500,000 in new funding from TrueVentures.org and a handful of individual backers. The company gets around power export regulations by selling panels with very low wattage. “So we’re talking 200- or 220-watt systems that never backfeed to the grid, because we think close to every typical household will consume that electricity immediately, simply with the refrigerator,” Cora Stryker, the company’s co-founder, told me.
The San Francisco-based startup has sold a couple dozen systems already and has a waitlist of about 1,500 people, Stryker said. So far, she told me, the majority of this “early adoption crowd” is mainly interested in reducing their own emissions. “We think that’ll change over time,” she said. “The mass adoption in Germany has been driven not by that climate-conscious crowd, but really people who want to save money.”
The main drawback to Bright Saver’s approach, however, is also what makes it possible in the first place: the panels’ incredibly small size, which can’t come close to covering a home’s full power needs. So while the upfront cost of a 200-watt panel is small — $399 at the moment — a customer’s energy savings will also be tiny — potentially on the order of just a few bucks per month. Depending on the location, the savings will eclipse the total cost in about five to 10 years, Stryker told me.
That might not be enticing enough to convince a critical mass of customers to jump onboard the small-scale solar train. But Stryker thinks that getting these products out into the world will help catalyze the type of curiosity and interest that can dovetail into policy change. “Selling product in the next year or two is a small revenue stream for us, but it’s also our theory of change,” she told me. “These need to get out there in order for people to know they even exist.”
Much of Bright Saver’s work involves advocating for easing plug-in solar regulations, which is already starting to happen, bit by bit. In March, the Utah state legislature unanimously passed a bill creating a new category for “small portable solar generation devices” under 1,200 watts, exempting them from interconnection requirements. Stryker told me that Utah’s governor was inspired to introduce the bill after reading a story in The New York Times about balcony solar’s success in Germany.
Now more states, including Vermont, Maryland, and Pennsylvania, are expressing interest in similar legislation. If just a few more get onboard, Stryker told me that would be a critical tipping point. “We’ve had conversations with manufacturers and investors who tell us straight up, they’re not coming to the U.S. market because they see only one state where they’re not going to run into these regulatory concerns,” she said. “They tell us privately, five to seven more states and they’re in. So that’s a key threshold for us.”
But one veteran of the plug-in solar market, Craftstrom, isn’t betting on this happening. The company has been selling 400- to 800-watt systems in Europe since 2017, and expanded into the U.S. a few years later, targeting markets where electricity prices are highest, like California and the Northeast. To deal with domestic regulations, the company patented a new type of meter to be placed inside electric panels that blocks excess power from flowing back into the grid. This prevention mechanism also allows the company to sell larger systems — up to 2,000 watts — in the U.S.
Craftstrom’s chief revenue officer, Ken Hutchings, thinks this type of system is critical for grid safety in the U.S., where distribution networks tend to be older and less standardized than in Europe, and not necessarily built for two-way power flow. This opens up utilities to a good deal of legal liability in the case of equipment failures.
While Hutchings wouldn’t necessarily be surprised to see other states following Utah’s lead, he’s skeptical that the U.S. will become a haven for plug-in solar anytime soon — or even that it’s a good idea. “There’s no risk to one or two guys pushing power back into the grid,” he told me. “But when you have thousands and thousands of people doing it, tens of thousands, and the electric company is not sure who’s doing it, I think that’s where the issue lies.”
Thus far, Craftstrom has sold about 4,000 units in the U.S., with about 500 of those orders coming in the past month alone, Hutchings told me. He attributed the sudden uptick largely to a rush of customers trying to qualify for home energy efficiency tax credits — which he said Craftstrom’s systems are eligible for — before they expire at year’s end.
Craftstrom’s domestic prices are still more expensive than what its own customers in Europe can expect to pay for similar systems due to the extra hardware costs that come along with the specialized meters, as well as the fact that installing these products is not a DIY operation. That means Utah customers should now enjoy the same price relief, since the new state law lifts the grid restrictions that the rest of the U.S. faces. These days, Craftstrom’s more complex hardware plus the cost of labor “just about doubles the cost from what you’re able to get in Utah,” Stryker told me.
Bright Saver sold Craftstrom’s systems when it first started out earlier this year, but chose to discontinue this offering as it “didn’t serve our vision of making this accessible to everyone through cost and self-installation,” Stryker told me. Instead, the organization is focusing on policy changes that will make cheap self-install systems in the 800-watt range feasible in more states. And that means getting legislators onboard with some degree of deregulation, something Stryker acknowledges “has often been a dirty word” in the environmental movement.
“In this case, we need these regulations to get out of the way. They’re outdated. They’re artifacts,” she told me, referring to the requirement that small plug-in systems sign utility interconnection agreements. “I see it as a purple narrative, one that can appeal to values across the political spectrum — energy independence, energy affordability, renters’ rights.”
Of course, Stryker isn’t advocating for complete anarchy in the space. Grid stability is still a concern, and she said that Bright Saver is involved in discussions with regulators and standard-setting bodies to determine acceptable wattage thresholds. Countries that have embraced balcony solar in Europe have “impeccable” safety records, Stryker told me, enabling Germany to raise its wattage limit from 600 to 800 watts at the beginning of last year.
There are still some logistics to work out though. As the recent Utah law is written, plug-in solar arrays must comply with product standards from Underwriters Laboratories, a safety certification body. And while this organization has standards covering the individual components of plug-in solar systems, it has yet to create a systems-level standard. Depending on whom you ask, that might mean all domestic companies in the space are operating in a bit of a regulatory gray area at the moment.
Stryker told me she expects these system-wide standards to be released soon though, ideally in tandem with more bills like the one passed in Utah. “We think it’s a no-brainer.”
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How China emerged the victor of the war with Iran.
The Strait of Hormuz appears to maybe be opening up eventually — and the price of oil is collapsing.
Iranian Foreign Minister Abbas Araghchi said Friday morning that the waterway was “completely open,” shortly before President Trump declared on Truth Social that the strait was “COMPLETELY OPEN AND READY FOR BUSINESS AND FULL PASSAGE,” though the president also clarified that “THE NAVAL BLOCKADE WILL REMAIN IN FULL FORCE AND EFFECT AS IT PERTAINS TO IRAN.”
Eurasia Group analyst Greg Brew cautioned me that, as was the case when Trump announced a ceasefire last week, the actual status of the Strait of Hormuz has remained unchanged. Iran’s position is that traffic from non-hostile countries can go through the strait as long as ships coordinate with its government and follow a route that hugs its coastline; the U.S. has insisted for over a week that the strait is open, and has been blockading traffic from Iran.
That’s not to say today’s announcement was meaningless. “There has been movement from both the U.S. and Iran on the issues that matter — namely, Iran’s nuclear program,” Brew told me. Meanwhile, “there’s a lot of ambiguity, and there’s a lack of clarification on the status of the strait. The upshot of that is shippers don’t feel secure in using the strait.”
As for the mutual statements, Brew said they were a sign that “both sides have acknowledged a mutual interest in having the strait reopen.” The market, meanwhile “is responding to the positive vibes that the president and, to some extent, the Iranians are putting out regarding the status of Hormuz moving forward.” Oil prices fell substantially Friday, with the West Texas Intermediate benchmark price down 10.5% to around $85 per barrel.
While the final disposition of the conflict between the U.S. and Iran — and thus the flow of traffic through the Strait of Hormuz — remains unclear, the global energy system may be at the beginning of the end of the crisis that started at the end of February.
This doesn’t mean an immediate return to the status quo from the beginning of the year, however, which saw a glut of fossil fuels depressing global prices. Several hundred million barrels of oil that would otherwise have been pumped in the Persian Gulf remain in the ground after producers shut in production, temporarily suspending operations to protect their infrastructure and minimize their exposure to the conflict. This has created what Morgan Stanley oil analyst Martijn Rats called an “air pocket” in the market — and anyone who’s watched a hospital drama knows how dangerous an air pocket can be.
As happened with Russia’s war against Ukraine, the consequences of the Hormuz closure cannot simply be undone. That leaves countries — especially poorer countries dependent on fossil fuel imports — with a stark choice about how to fuel their future economic growth. The crisis may have tipped the balance towards renewable and storage technology from China over oil and natural gas from the Persian Gulf, Russia, or the United States.
“There is a huge shift in total supply available in the fossil system,” Jeremy Wallace, a professor of China studies at Johns Hopkins University, told me. “I think the fossil system has been demonstrated to be vastly less reliable, riskier than it was seen to be in February.”
For gas specifically, recovering from Iranian attacks on Qatar could take years, not just the weeks and months necessary to clear the backlog in the Persian Gulf.
That will serve to reinforce China’s dominant position as a producer and exporter of solar panels, batteries, and electric vehicles. “It’s hard for me to not see this as a huge win for Chinese firms that produce these products, upstream and downstream in those supply chains — as well, arguably, for the Chinese government itself,” Wallace said.
There’s already been some institutional movement away from fossil fuel investments and towards clean energy as well. A Vietnamese conglomerate, for instance, has proposed scrapping a planned liquified natural gas terminal for a solar and renewables project, while the county has also signed a deal with Russia to build the region’s first operational nuclear plant. And even as electric vehicle sales in China have slowed down, the share price of the battery giant CATL has surged since the war began despite rising costs of metals due to disruptions of chemicals necessary for refining from the closure of the strait.
Kyle Chan, a fellow at the Brookings Institution who studies Chinese technology and economic policy, summed up the situation by calling the energy shock of the war “the best marketing program you could possibly imagine for China’s clean tech sector.”
It’s not just China’s technology that is likely to be more attractive in light of this latest energy crisis, but also its energy model, which fuses energy security and decreasing dependence on imported fossil fuel (thanks, in part, to domestic coal supplies and hydropower) with a vast buildout of renewables and nuclear energy.
“The way that China has weathered the Iran war energy shock so far has really validated its strategy of investing heavily in alternative energy,” Chan said.
Going forward, Asian countries will have to decide on future investments in energy infrastructure, especially the extent they want to build out infrastructure for importing and processing oil and especially liquefied natural gas.
While the United States, especially under Trump, is more than happy to sell LNG to any taker, the fact that oil and LNG are global markets could make countries leery of depending on it at all if it’s risky to supply and price shocks, even if U.S. exports are dramatically less likely to get bottled up in the Gulf of Mexico.
“It seems like once in 100-year storms happen every year. Now it feels like that in the fossil energy system,” Wallace told me. “We’ve been talking about the crises of the 1970s for 50 years afterwards. We don’t need to be talking about those now.”
The 1970s saw major investments in non-oil energy generation, especially nuclear power, in Japan and France and large scale investments in energy efficiency. Today, Wallace said, “the alternatives are much more attractive.”
“In the months to come, I think we will see a lot of bottom up industrialists and probably wealthy consumers in Southeast Asia and South Asia who are going to vote for energy security of their own as best they can,” he told me, pointing to the mass adoption of solar in Pakistan since 2022.
But Asian countries embracing renewables and storage will not have entirely freed themselves from geopolitics. While batteries, solar panels, and electric vehicles do not require a flow of fuel from abroad the same way oil and gas infrastructure does, China has shown itself to be perfectly willing to use economic leverage to achieve political ends.
Relations between China and Japan, the second largest Asian economy and a close American ally, quickly devolved into crisis following the ascent of Sanae Takaichi to Prime Minister of Japan in October, after the new leader suggested that if China were to blockade Taiwan, it would constitute “an existential threat.” China responded with an array of economic punishments, including discouraging Chinese tourism in Japan and restricting shipments of rare earths elements and magnets.
China’s economic coercion, Chan told me, “reminds everyone that while you can buy all this really affordable, highly scaled-up clean energy equipment, China has been able to and has been willing to leverage that supply chain dominance in certain ways. There’s a degree of trust that you can’t really make up for.”
Countries embracing Chinese energy technology will “always have to have a Chinese-hedging discount in the back of their minds,” he said.
On Breakthrough Energy Ventures’ quantum computing investment, plus more of the week’s biggest money moves.
It’s been a busy week for funding, with several of the most high-profile deals featured in our daily AM newsletter, including Slate Auto’s $650 million fundraise for its stripped-down electric truck and Rivian’s partnership with Redwood Materials to repurpose the electric automaker’s battery packs for grid-scale storage.
These are clearly companies with direct decarbonization implications, but one of the week’s other biggest announcements raises the question: Is this really climate tech? That would be quantum computing startup Sygaldry, which recently nabbed $139 million in a round led by Breakthrough Energy Ventures to build quantum AI infrastructure. Huh.
Elsewhere in the ecosystem, the climate connection is a little more straightforward, with new funding for advanced surface materials designed to improve insulation and fire-protection, capital for microgrids that can integrate a diverse mix of generation and storage assets, and federal support for next-generation geothermal tech.
Quantum computing offers a futuristic paradigm for high-powered information processing and problem solving. By leveraging the principles of quantum mechanics, these systems operate in fundamentally different ways than even today’s most advanced supercomputers, encoding information not as ones and zeros, but as quantum units called “qubits.” Naturally, there is significant interest in applying this novel tech — which today remains error-prone and not ready for prime time — to artificial intelligence, with the aim of exponentially accelerating certain training and inference workloads.
Perhaps less intuitively, however, these next-generation computers are now viewed, at least by one prominent venture capital firm, as a key climate technology.
This week, quantum computing startup Sygaldry raised a $139 million Series A round led by Bill Gates’ climate tech VC firm Breakthrough Energy Ventures to build “quantum-acclerated AI servers” for data centers, which could reduce the cost and power required to train and operate large models. “The AI industry is advancing faster than ever and needs a breakthrough in performance per watt,” Carmichael Roberts, Breakthrough Energy Ventures’ chief investment officer said in the press release. “Sygaldry’s vision for bringing quantum directly to the AI data center has the potential to deliver exactly that, bending the cost and energy curve at the moment it matters most."
Certainly Sygaldry’s ultra-high-powered computers could help lower the energy intensity of AI workloads, but that is no guarantee that it will reduce AI and data center emissions overall. As was widely discussed when the Chinese AI firm DeepSeek released its cheaper, more energy-efficient model early last year, efficiency gains could reduce emissions in the sector at large, but they are perhaps just as likely — or some argue even more likely — to drive greater proliferation of AI across a wide array of industries. This unfettered growth could offset efficiency gains entirely, leading to a net increase in AI power demand.
Buildings account for nearly 37% of domestic energy consumption, with heating and cooling representing the largest share of that load. But while energy efficiency strategies typically focus on upgrading insulation or adjusting the thermostat, there’s another approach — essentially painting the roof with sunlight-reflecting material — that has the potential to reduce AC demand and thus cut a building’s cooling-related energy use by up to 50%.
Just such a “paint” is one of the unique ceramic coatings developed by NanoTech Materials, which this week raised a $29.4 million Series A to scale its infrastructure materials business. Beyond roofing, the company also offers a fire-protective coating for wooden infrastructure such as utility poles, fences, highway retaining walls, and other transportation assets, as well as an insulative coating for high-heat industrial equipment such as pipes and storage tanks designed to slow heat loss and prevent burn risk.
“Today’s built environment demands materials that don’t just meet code, but can also outperform the extreme conditions we’re now facing,” said D. Kent Lance, a partner at HPI Real Estate Services & Investments, which led the Series A. Nanotech Materials currently operates a manufacturing facility in Texas and plans to use this new capital to further expand its operations as it conducts market research for its various product lines.
Interconnection delays aren’t just a data center problem. Industrial developers working on everything from real estate and electric vehicle charging to manufacturing and aviation are also struggling to get timely and reliable access to power when building or expanding their operations. Enter Critical Loop. This modular microgrid company is building battery energy storage systems that can integrate batteries of varying sizes and specifications with a variety of power sources, including onsite solar, diesel generators, and grid power.
This week, the startup announced a $26 million Series A round, bringing total funding to $49 million across all equity and debt financing. Critical Loop’s approach combines a software platform with proprietary hardware — what it calls a “combiner” — which reduces the need for the many custom components typically required to connect a diverse mix of batteries and generation sources. “There’s a lot of power problems that are not getting solved because of limitations on an understanding of how to integrate different systems at a site,” Critical Loop’s CEO Balachandar Ramamurthy, told me last month.
The company’s initial product is a modular single-megawatt battery system that can be transported in shipping containers for rapid deployment in capacity-constrained locations. To date, Critical Loop has deployed about 50 megawatt-hours of microgrid assets, with plans to scale to over 100 megawatt-hours by year’s end.
It’s been another exciting week for one of the few bipartisan bright spots in clean energy — geothermal development. My colleague Alexander C. Kaufman reported in this morning’s AM newsletter that the AI-native geothermal company Zanskar secured $40 million through one of the first development capital facilities for early-stage geothermal development, and now the technology has secured fresh capital from the fickle U.S. Department of Energy. Today, the DOE announced a $14 million grant to support an enhanced geothermal demonstration project in Pennsylvania that will convert an old shale gas well into a geothermal pilot plant.
Conventional geothermal systems depend on a highly specific set of subsurface conditions to be commercially viable, which includes naturally occurring underground reservoirs where fluid flows among hot rocks. By contrast, developers of enhanced geothermal systems effectively engineer their own reservoirs, hydraulically fracturing rock formations and then circulating water through those man-made fractures to extract heat that’s then used to generate electricity. A number of well-funded startups are advancing this approach using drilling techniques adapted from the oil and gas industry, such as Fervo Energy — which has an agreement with Google to supply electricity for its data centers — and Sage Geosystems, which has a similar tie-up with Meta.
“As the first enhanced geothermal systems demonstration site located in the eastern United States, this project offers an important opportunity to assess the ability of such systems to deliver reliable, affordable geothermal electricity to Americans nationwide,” Kyle Haustveit, the Assistant Secretary of the Hydrocarbons and Geothermal Energy Office, said in the DOE release. If successful, the Energy Department says the project could provide a replicable model for scaling the deployment of enhanced geothermal systems across a broader range of geographies.
This week, the nonprofit XPRIZE organization announced that it’s partnering with Amazon to launch a new global competition focused on critical mineral circularity — redesigning how minerals such as lithium, cobalt, and nickel are recovered, processed, and reused. Demand for these minerals is projected to quadruple by 2040, but their supply chains remain largely concentrated in China, especially across refining, processing, and battery manufacturing.
The competition aims to catalyze breakthroughs in mineral recovery and recycling, materials solutions, and lower-impact extraction methods. It’s not yet open to submissions as organizers are still seeking philanthropic and corporate funding before entrepreneurs, startups, and research teams can submit their ideas for consideration. XPRIZE has been running challenges for three decades now, with past competitions revolving around carbon removal, adult literacy, and lunar exploration.
Current conditions: A broad swath of the United States stretching from South Texas to Chicago is being bombarded by the Central U.S. with severe storms and more than two dozen tornadoes so far • The thunderstorms pummeling Puerto Rico and the U.S. Virgin Islands are expected to stretch into the weekend • Kigali is also in the midst of a days-long stretch of heavy storms, testing the Rwandan capital’s recent wetland overhaul.
SunZia Wind, the largest renewable energy project of its kind ever built in the U.S., has started generating electricity, nearly capping off a two-decade effort to supply Californians with wind power generated in New Mexico. The developer has begun testing the project’s 916 turbines ahead of planned full-scale commercial operations later this quarter, unnamed sources told E&E News. The project includes 3.5 gigawatts of wind and 550 miles of transmission line to funnel the electricity west from the desert state to the coast. “The impact is already evident,” the newswire wrote. “California broke its record for wind generation eight times in the last four weeks.”
When Heatmap’s Robinson Meyer visited SunZia’s construction site in August 2024, he observed that, once it started running at full blast, the project would “generate roughly 1% of the country’s electricity needs.” Its success in the face of the Trump administration’s attacks on wind could “lay the model” for a new paradigm in which “clean energy buildings and environmental protectors work together to find the best solution for the environment and the climate,” Rob wrote. “We will need many more success stories like it if America is to meet its climate goals — 99 more, to be exact.”
The U.S. Senate voted 50-49 on Thursday to repeal a mining ban on land near the Minnesota’s Boundary Waters Canoe Area Wilderness, declaring what Heatmap’s Jeva Lange called “open season” on public lands. In what the public lands news site Public Domain called “an unprecedented use of the Congressional Review Act,” the vote slashes protections for the iconic nature preserve. Inspiring even fiercer political pushback is the fact that Republicans championed the effort largely to benefit an overseas corporation: Twin Metals Minnesota, a subsidiary of the Chilean mining conglomerate Antofagasta, which has for years sought to establish a copper-nickel mine on national forest land near the wilderness area. “The Boundary Waters belong to everyone,” Julie Goodwin, a senior attorney at Earthjustice, said in a statement. “They should be protected and enjoyed by all, not jeopardized to benefit a wealthy foreign company.”
At the same time, global demand for both nickel and copper are surging — and a successful effort to decarbonize the world economy through greater electrification will require a lot more of both metals.
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The good news: The Department of Energy is allowing the Direct Air Capture hub program started under the Biden administration to move forward. In documents submitted to Congress this week, the agency listed as approved the up to $1.2 billion the program awarded to two projects: Occidental Petroleum’s South Texas DAC Hub, and Climeworks and Heirloom’s joint Project Cypress in Louisiana. As Heatmap’s Emily Pontecorvo noted: “This fate was far from certain.” After the Energy Department cut funding for 10 of the original 21 projects last fall, a leaked list of projects suggested the Louisiana and Texas hubs would be targeted in a second wave of rescissions. The bad news: Last week, Rob had a scoop that Microsoft — whose carbon removal buying made up roughly 80% of the industry — was pausing its purchases. And as he wrote yesterday, even if it’s just temporary, the pause will ripple through the nascent market.
Other technologies that once seemed like science fiction are, in fact, moving forward. In an exclusive for Heatmap, I reported that Clean Core Thorium Energy, a Chicago-based company designing thorium fuel bundles that works in existing reactors, inked a deal to manufacture its first four units. In addition to assembling the bundles, the Canadian National Laboratories will supply the small amount of a special kind of uranium fuel needed to be blended into Clean Core’s mix and that serves as a spark plug for the reaction.
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Last October, the Energy Department asked the Federal Energy Regulatory Commission to set rules for patching data centers, advanced factories, and other large loads onto the grid. The move, as Utility Dive reported at the time, sparked controversy over whether it represented a Washington power grab given that the landmark Federal Power Act gives states jurisdiction over retail electricity interconnections. Now FERC has said it plans to respond. On Thursday, Robin Millican, a researcher at Columbia University’s Center on Global Energy Policy, posted on X that FERC announced a notice of intent to act on the Energy Department’s request, with a ruling expected in June. “Good,” she wrote. “Ensuring interconnection costs from data centers, advanced manufacturing, and big electrification projects aren’t passed to retail customers is overdue.”
Back in January, I told you that two geothermal startups raised a combined $212 million: Zanskar, which uses artificial intelligence to hunt down previously undetected conventional geothermal resources underground; and Sage Geosystems, a next-generation startup using fracking technology to drill for geothermal heat in places that conventional resources can’t tap. This week we saw two geothermal companies once again net a nine-digit number. Once again, Zanskar — considered by experts Heatmap surveyed to be one of the most promising climate-tech companies in the game right now for a reason, after all — announced the closing of another $40 million fundraise. Just Capital and Spring Lane Capital led the round, with an additional investment from Tierra Adentro Growth Capital. Zanskar said the round was a development capital facility, a type of deal that usually involves equity or debt to fund a company’s growth. It is “among the first ever structured for early-stage geothermal development, drawing on the best practices from the renewables and natural resource sectors,” the company said Thursday in a press release. The financing will help establish a revolving line of credit “designed to accelerate project development.”
On Wednesday, another competitor in the next-generation geothermal space, Mazama Energy, pulled in a fresh round of capital. The Frisco, Texas-based company, which last year boasted a system that reached hotter temperatures than any other geothermal company, just raised $100 million, according to Axios.

San Diego, once the poster child for a drought-parched Southern Californian city, is now looking to become a water exporter, The Wall Street Journal reported. North America’s largest desalination plant is producing so much freshwater for the San Diego County Water Authority that the city is working on a deal to sell millions of gallons to Arizona and Nevada. The Claude “Bud” Lewis Carlsbad Desalination Plant, which opened in 2015 and is owned by an infrastructure investment firm, may produce more expensive than average water, but “it is important to note that it is more reliable than other sources,” Keith R. Solar, a water attorney from the seaside neighborhood of Point Loma, wrote in the Voice of San Diego last year. “Its value as insurance against disruption of supplies from other sources makes it a critical part of our future.”