7 geothermal startups to watch in 2026, according to VCs

In 2026, European venture capitalists are identifying geothermal startups as potential game-changers in the continent's energy landscape, amid rising geopolitical tensions. Anne Sraders, a senior reporter at Sifted based in Berlin, highlights the growing interest in geothermal energy among investors. Over the first half of 2026, European energy startups raised nearly as much capital as the previous two years combined, according to Sifted data.

The startups are diversifying their focus, exploring various renewable sources such as nuclear, tidal power, and geothermal energy, to meet the continent's expanding data center infrastructure needs. Accel, a prominent venture capital firm, is also doubling down on energy startups like Axle, demonstrating the increasing confidence in this sector.