The geothermal exploration market is shifting from promise to deployment. What felt like a niche part of the energy transition is starting to look like strategic infrastructure. Recent momentum is hard to ignore: the U.S. DOE announced a $171.5 million funding opportunity for next-generation geothermal field tests and exploration drilling, Ormat signed a portfolio PPA of up to 150 MW to support Google’s Nevada operations, and Fervo closed $421 million in non-recourse financing for Cape Station. The IEA also says next-generation geothermal financing reached nearly $2.2 billion in 2025, up 80% year over year. 

The driver is clear: markets need reliable, low-emissions, 24/7 power, and geothermal is becoming more attractive as data center demand rises and drilling performance improves. DOE says data centers’ share of annual U.S. electricity consumption more than doubled from 1.9% in 2018 to 4.4% in 2023 and could reach 6.7% to 12% by 2028. At the same time, the 2025 U.S. Geothermal Market Report points to strong momentum from new PPAs, private investment, and emerging demand from data centers and grid support. 

But the biggest challenge in geothermal has not changed: exploration risk. The IEA notes that drilling and well costs can represent up to 80% of total project costs. That means better subsurface intelligence before drilling is no longer a nice-to-have — it is becoming a real competitive advantage. 

This is where Adrok can help. Adrok use Atomic Dielectric Resonance (ADR) and Predrilling Virtual Logging® to provide non-invasive subsurface intelligence before drilling. For geothermal applications, Adrok says its electromagnetic system can provide a proxy temperature measurement of the subsurface without drilling, helping teams identify promising targets earlier, reduce unnecessary wells, and make faster, lower-impact decisions. 

As geothermal scales into a more serious 24/7 power market, the winners will be the teams that reduce uncertainty earliest. That is the opportunity in front of the sector — and where Adrok can add real value.

KeyFacts Energy Industry Directory: Adrok