MCJ invests in Rodatherm closed-loop geothermal

MCJ has announced an investment in Rodatherm as part of a $38M Series A round led by Evok Innovations.

• Main announcement: MCJ invested in Rodatherm’s $38M Series A (led by Evok Innovations, with participation from TDK Ventures, Toyota Ventures, TechEnergy Ventures, Active Impact Investments). Rodatherm is developing a closed-loop advanced geothermal system targeting an LCOE of $50/MWh, and is operating a pilot in Utah with a planned 1.8 MW demonstration test by end of 2026 and an offtake agreement with UAMPS.
• Background and details: Rodatherm targets sedimentary basins using oil-and-gas components and organic working fluids to reduce geologic and O&M risk; the design claims ~50% higher heat extraction efficiency vs traditional binary systems, a closed-loop to eliminate fluid loss and corrosion, and an expected asset longevity of >40 years. The company has operated in stealth since 2022 and its CEO, Curtis Cook, previously founded Vesta Energy (noted as having grown to a $1B asset value).