Munich – Siemens Energy Ventures, together with AtOne Ventures, High-Tech Gründerfonds (HTGF), Gründerfonds Ruhr, and Verve Ventures, has participated in the USD 9.1 million seed financing round of Factor2 Energy GmbH. The funds raised will be used to further develop and commercialize an innovative CO₂-based geothermal technology. Factor2 Energy was founded as a spin-out from Siemens Energy.
A CMS team led by Dr. Jessica Mohaupt-Schneider provided Siemens Energy with comprehensive legal and tax advice on the project.
Factor2 Energy is a German climate-tech company developing CO₂-based geothermal systems. By using carbon dioxide as a working fluid, the technology taps geothermal resources at moderate temperatures and is designed to deliver up to twice the output of conventional systems – without fracking, ultra-deep drilling, or water-intensive processes.
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