A Year of Action
2025 At a Glance
2025 marked a pivotal year for Ignis Energy — one defined by disciplined execution, data driven exploration, global portfolio expansion, and growing industry recognition. With activity spanning the United States, Türkiye, Italy, and Indonesia, Ignis strengthened its position as a pragmatic, geology focused geothermal developer committed to delivering real, investable progress.
Across the US, Türkiye, Italy, and Indonesia
A Growing, De-Risked Global Portfolio
Ignis continued to build a diversified geothermal portfolio designed for early stage risk reduction and long term commercial viability. Key portfolio achievements:
- Expanded to 17+ active projects across four countries
- Increased and diversified early stage acreage holdings
- Completed major geological, geochemical, and MT survey programs across multiple basins
- Advanced our regional OpCo strategy to support future financing pathways
- Integrated our Indonesia efforts into the global development pipeline
Technical and analytical milestones:
- Completed 1,233 MT stations across 48,387 acres on 11 leases, significantly de risking our 77,877 acre portfolio
- Applied advanced AI/ML screening across more than 775 million acres in the Western US and Indonesia to identify the highest priority geothermal systems by utilizing 49 layers of various datasets
These efforts strengthen Ignis’ role as a leading originator of investable geothermal opportunities, grounded not in technology speculation, but in measurable subsurface evidence.
United States
Building Momentum Across Western Basins
Ignis made meaningful progress across its U.S. portfolio, laying the groundwork for the company’s next major phase of drilling and development. 2025 accomplishments include:
- Performed multi site geophysical programs across key basins including Black Mountain, T Hub, Weepah Hills, Whiskey Flats, Railroad Valley, Upsal Hogback, Pumpernickel, Twin Flats, and Mount Olive
- Expanded partnerships with leading environmental and subsurface consultants
- Strengthened land positioning and private landowner engagement
- Initiated formal regulatory communication channels with ONRR for long term compliance alignment
- Secured three leases in Nevada through recent BLM land sale
- Secured multiple expressions of commercial interest, including LOIs from potential offtaker’s
Data driven basin characterization work throughout the year advanced several U.S. prospects toward drill ready maturity, supporting a significant expansion of field operations in 2026.
Türkiye
A Breakout Year in Exploration & Permitting
Türkiye emerged as one of Ignis’ most promising regions in 2025, with substantial progress across the Güzelkent, Kargapazarı, Kantarkaya, and Ilıpınar licenses. Major 2025 milestones:
- In early January, our first exploration well YDS-1 confirmed artesian flow at 760 m with 80 °C fluids — direct evidence of an active geothermal system was confirmed by flow testing and geochemistry results
- Completed geological, geochemical, and MT campaigns across multiple sites
- Advanced several Environmental Impact Assessment (EIA) processes
- Identified high potential reservoir zones across multiple prospects
- Prepared well pads and program designs for the 2026 drilling campaign
- Planned a seismic acquisition program to enhance our understanding of the subsurface structure
- We well tested our first well YDS-1, measured sustainable temperatures at 741m is 84.7 °C delivering a 1 MWt at the wellhead.
Together, these achievements position Türkiye as one of Ignis’ most commercially viable near-term development clusters.
Investor Momentum
A Clear Preference for Pragmatic Geothermal
Conversations with investors and industry partners throughout 2025 revealed consistent themes that align strongly with Ignis’ approach:
- Execution matters most — investors value that Ignis does what it says, when it says it
- A technology light, geology first strategy is refreshing in a sector often dominated by speculative technological narratives
- Trust grows through consistency, data transparency, and operational discipline
- Regional focus and clear paths to profitability are preferred over scattershot development
- Industrial offtaker’s and data centers are emerging as major demand centers for carbon free power
Ignis’ approach — matching the right technology to the right reservoir, not the other way around — continues to resonate across the energy and investment sectors.
Key public milestones
Ignis maintained a strong public presence through conferences, publications, and social media updates that highlighted technical achievements and strategic progress.
- Announced expansion of the U.S. portfolio, adding five new prospects across Nevada and Utah
- Shared World Geothermal Day results showcasing MT acquisition, AI/ML screening, and early Türkiye drilling success
- Participated in IIGCE 2025 in Jakarta, strengthening ties with Southeast Asian partners
- Delivered thought leadership at IMAGE ’25, presenting “Building the Next Energy Company”
- Chugach Electric Association issued a non-binding letter to enter into a Power Purchase Agreement (PPA) for up to 200 MW of baseload geothermal power
- Announced drilling consultancy partnership to advance Türkiye deep‑well execution
- Celebrated the successful close of the US$13.6M Series A round
- Presented a latest paper at URTeC – “Harnessing AI and Computer Vision for Efficient Geothermal Field Exploration and Prospect Evaluation” (URTeC: 4265623)
- Ignis went to Capital Hill to meet with representatives, staffers, and nominees from across the country to share benefits of sound energy resource development and policy.
- Meeting with the esteemed Governors of Bingöl and Muş, the District Governor of Varto, and the Mayor of Varto
- Successful completion of our first geothermal exploration well in Türkiye!
Looking Ahead to 2026
2026 will mark one of the most transformative years in Ignis’ history. We will:
- Execute Ignis’ first commercial drilling operations, demonstrating geothermal potential across priority basins
- Launch a multi‑well drilling program across the U.S., beginning in Nevada with potential expansion into California
- Advance operational readiness in Türkiye, including commercial wells in Kaynapınar, Kantarkaya and Güzelkent
- Strengthen alignment with emerging data center and industrial offtakers
- Deepen engagement with strategic investors and partners and launch Series B financing aimed at derisking key projects through commercial drilling.
Every step brings us closer to proving — not proposing — the next generation of geothermal power.
Thank You
To our investors, advisors, partners, and friends: thank you for your belief in our mission and your support throughout this extraordinary year. Your confidence empowers us to keep pushing boundaries, keep drilling, and keep proving the future of geothermal.
Warm wishes,
The Ignis Energy Team
