• Kerogen-CX sees geothermal as a major opportunity to drive UK economic growth while accelerating decarbonisation, providing scalable, always-on renewable energy and valuable critical minerals.
• GEL’s United Downs facility in Cornwall is now delivering the UK’s first electricity generated from deep geothermal resources, providing 24/7 domestic baseload renewable power.
• Commercial-scale production of zero-carbon lithium carbonate has also commenced at United Downs, supporting UK EV battery supply chains and critical mineral security.
• Octopus Energy has signed a PPA with GEL that will see it deliver constant, clean geothermal power enough to supply around 10,000 UK homes.
London and Cornwall, 26 February 2026 – Kerogen-CX Capital (“Kerogen-CX”)-backed Geothermal Engineering Limited (“GEL”, “the Company”) today announces the delivery of the UK’s first-ever geothermal electricity from its United Downs facility, a strategic inflection point for the UK’s energy sector. By delivering 24/7 baseload renewable power, United Downs will enable the UK to balance its grid and contribute to a diversified energy mix that could eventually help unlock gigawatt scale deep geothermal across the country.
As part of this development, Octopus Energy has committed to purchasing at least 3 MW of GEL’s constant geothermal output, enough to provide clean energy for approximately 10,000 UK homes. This partnership will deliver the benefits of clean power and greater energy price stability directly to British households.
In a parallel breakthrough, GEL has also commenced the commercial-scale production of zero-carbon lithium carbonate, the key raw material for rechargeable batteries, at the United Downs facility. The facility has the capacity to produce 100 tonnes per annum, supporting the UK automotive sector, reducing the carbon footprint of battery storage, and meeting the 2027 Rules of Origin requirements.
The success of the United Downs facility represents a major strategic milestone for Kerogen-CX, reinforcing its position at the forefront of the UK’s energy transition. Kerogen-CX invested £15 million to enable construction of United Downs and accelerate the build-out of GEL’s UK geothermal platform. By simultaneously producing critical minerals like lithium, this project validates Kerogen-CX’s strategy of combining decarbonisation, energy security, and industrial growth.
Jason Cheng, CEO of Kerogen-CX, said: “United Downs is a major milestone for UK geothermal and a strong validation of our investment strategy. We believe the sector is at an inflection point and are committed to scaling it across the UK and Europe. Geothermal represents a compelling opportunity to drive economic growth while advancing systemic decarbonisation and advancing the energy transition. With rapid expansion underway across Europe and multi gigawatt onshore potential in Great Britain, the UK has a clear opportunity to scale a secure, always-on source of domestic renewable heat and power.”
Dr Ryan Law, CEO of GEL, said: “We are proud to be at the forefront of this landmark step for the UK, generating geothermal electricity and lithium by harnessing the resources beneath our feet. This is a huge advancement for geothermal power in the UK and the beginning of our expansion plans. Geothermal energy and critical minerals extraction are naturally complementary as they share the same subsurface resource. The hot, mineral-rich fluids that generate clean electricity can also be processed to recover strategic materials like lithium as well as rare earth minerals. Therefore, collocating power and mineral extraction plants maximises capital investment in the wells, minimises surface disruption (as everything happens underground, not via huge open cast mines at the surface) and accelerates the transition to secure domestic supply in both sectors. The United Downs plants prove that we can do this in a way that benefits the climate and the local and national economy.”
Located in Cornwall, GEL’s United Downs facility is the UK’s first deep geothermal power plant and an integrated clean energy and critical minerals hub. Drilled to more than 5 km and accessing water above 190°C, the site delivers 24/7 baseload renewable electricity while also producing commercial-scale, zero-carbon lithium carbonate for UK battery supply chains. By combining constant domestic power generation with critical mineral extraction at a single site, United Downs demonstrates the strategic potential of geothermal to strengthen energy security, decarbonise industry and support regional economic growth.
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About Kerogen-CX Capital
Established in 2007, Kerogen-CX Capital (“Kerogen-CX”) is a US$ 3 billion independent private equity fund manager specialising in the international energy sector with offices in London, Hong Kong, New York and San Francisco. Kerogen-CX targets critical sectors for energy security and energy transition. Kerogen-CX’s strategy includes investments in nuclear and geothermal energy that can deliver base load, sustainable aviation fuel (SAF) and low carbon fuels and chemicals, and supply chain / enablers related to the growth energy and energy transition sectors such as energy storage, grid and digital solutions.
For more information visit: www.kerogencap.com / www.celeratex.com
About GEL
GEL was established in 2008 to deliver deep geothermal heat and power projects in the UK and abroad. It consists of a team of geologists, engineers and community engagement specialists focused on innovative methods of delivering sustainable energy that benefits local communities. The company is now branching out into zero carbon mineral production. The company’s flagship project is at United Downs in Cornwall, where it has drilled to over 5 km and will switch on power in 2026. GEL is backed by Thrive Renewables plc and Kerogen-CX, with support for lithium development from the UK Government’s Automotive Transformation Fund.
For more information visit: https://gel.energy/key-information/geothermal/
