Teverra Awarded State Grant to Power Rico's Future With Geothermal Heat

Grant supports Teverra's mission to deliver carbon-free heating and energy resilience to rural communities in Colorado and beyond

ATLANTA, GA / ACCESS Newswire / July 7, 2025 / Teverra, a leader in subsurface energy innovation, is proud to announce it has been awarded a $200,000 grant from the Colorado Energy Office as part of the final round of the state's nation-leading Geothermal Energy Grant Program. The grant, among the largest private-sector awards in this round, will support the development of a geothermal district heat network in the historic town of Rico, Colorado.

The Rico Heat Network project aims to demonstrate the viability and scalability of clean, direct-use geothermal energy for rural and mountainous communities. Teverra's initiative will utilize advanced subsurface analysis, thermal modeling, and subsurface engineering to design an efficient and sustainable heating and cooling system powered by geothermal resources beneath the town.

"This award is a testament to the growing recognition that geothermal is not just a clean energy option-but a powerful enabler of energy security, economic development, and climate resilience," said Dr. Hamed Soroush, CEO of Teverra. "We're honored to work alongside the State of Colorado and the community of Rico to bring this vision to life."

Governor Jared Polis's "Heat Beneath Our Feet" initiative and the Colorado Energy Office's support underscore the state's commitment to unlocking homegrown, renewable geothermal resources. The grant is part of a broader $1.6 million investment into community-driven and technology-forward geothermal projects across Colorado.

Teverra's Rico project will serve as a model for other small towns and mountain communities seeking to transition from fossil fuels to resilient, carbon-free heating and cooling systems.

About Teverra
Teverra is a subsurface solutions company pioneering the next generation of geothermal, carbon storage, and energy transition technologies. With a multidisciplinary team of geoscientists, engineers, and data experts, Teverra delivers cutting-edge solutions that make clean energy more reliable, accessible, and scalable.

www.teverra.com

SOURCE: Teverra LLC