Houston geothermal startup adds former BP, Calpine execs to C-suite
new leaders
XGS Energy, a Houston-based developer of geothermal power systems, has added several energy industry veterans to its C-suite this summer.
The company named Al Vickers as its new chief operating officer earlier this month. Vickers will replace Ghazal Izadi in the role, as she moves into the chief growth officer position.
Vickers previously served as CEO of BP's U.S. Low Carbon Energy business and most recently was COO of Houston-based Grid United, which develops next-generation transmission infrastructure.
“I have spent my career developing, building, and operating large, complex energy infrastructure, and I am excited to work with XGS’s proven technology, which is ready to deliver clean, round-the-clock power at the scale the grid and customers need,” Vickers said in a news release. “XGS sits at the intersection of innovation, affordability, demand growth, responsible infrastructure development, and long-term energy resilience. I’m excited to roll up my sleeves and apply best practices from both oil and gas and infrastructure development to deliver gigawatt-scale geothermal projects.”
Kurt Fricker, who most recently held leadership roles at Hess Corporation, was also announced as XGS's new chief procurement officer.
The hires come shortly after XGS announced Richard Chong as its new chief financial officer in May.
Chong joins XGS from Houston-based power producer Calpine, where he most recently was vice president of finance. His work there included leading $2.25 billion in financing for Geysers, the world’s largest geothermal power complex.
Chong says XGS’ proven technology and the rising demand for clean power will help the company execute on its multi-gigawatt pipeline.
“I look forward to applying the experience I’ve built over two decades in energy finance to help XGS deliver clean, reliable power to customers and unlock the massive development opportunity ahead for next-generation geothermal,” Chong said in the release.
XGS’ first project is a 150-megawatt geothermal facility in New Mexico. It will supply around-the-clock electricity to the grid operated by Public Service Co. of New Mexico in support of Meta data centers.
XGS recently tapped Houston-based energy technology company Baker Hughes to provide engineering services for the New Mexico project.
XGS’ geothermal system uses thermally conductive materials to deliver affordable energy anywhere hot rock exists — without the need for water resources or specific geological conditions. This results in lower-risk projects, more site options, easier permitting and faster deployment.
Since 2023, XGS has raised nearly $57 million in venture capital.
XGS launched in 2008 in Palo Alto, California, as Geothermic Solution. In conjunction with its Series A round in 2023, the company rebranded to its current name. The company recently moved its headquarters to Houston, according to the Houston Business Journal.
