Vallourec, a world leader in premium tubular solutions for the energy industry, and XGS Energy ("XGS"), a developer of next-generation geothermal systems, today announced a strategic supply chain partnership as XGS executes on a three gigawatt pipeline of commercial geothermal projects across the western United States.
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Vallourec will supply tubulars for XGS Energy's water-independent geothermal systems, including its 150-MW Meta project in New Mexico. (Credit: Vallourec)
Securing the supply of tubulars, a major component of XGS's water-independent systems, is a key milestone as XGS begins construction this year on their 150 MW project with Meta in New Mexico, delivering 150 MW to the Public Service Company of New Mexico's (PNM) grid to support Meta's data center operations. Through this partnership, Vallourec will provide its engineering expertise, manufacturing capabilities, and proven track record in high-temperature tubular solutions to support the deployment of XGS's solid-state, closed-loop geothermal system.
For Vallourec, the partnership represents a strategic step in the expansion of its New Energies portfolio and reinforces the company's ambition to become a leading supplier of tubular solutions and services for advanced geothermal applications. Vallourec's world-class tubular solutions such as THERMOCASE Vacuum Insulated Tubing (VIT) plays a critical role in enabling high efficiency geothermal wells by minimizing thermal losses, increasing heat exchange performance, and improving long-term system reliability, all critical components for the commercial scale deployment of next-generation geothermal systems.
Philippe Guillemot, Chairman of the Board of Directors and Chief Executive Officer of Vallourec, commented: "Our collaboration with XGS Energy exemplifies Vallourec's commitment to the energy transformation and the strategic importance of geothermal within our New Energies portfolio. By combining our tubular expertise with XGS's innovative technology, we are enabling meaningful progress toward decarbonizing the energy sector."
"Our near-term projects in New Mexico and California alone will make XGS one of the largest consumers of tubular goods in the world in 2027 and 2028," said Josh Prueher, Chief Executive Officer of XGS Energy. "Securing long-term supply of best-in-class equipment and technical support from our partners at Vallourec is absolutely critical to meeting our data center customers' demand, on time and on budget."
About XGS Energy
XGS Energy provides Clean, Round-the-Clock Energy Everywhere, Forever. XGS's proprietary solid-state geothermal system uses thermally conductive materials to deliver affordable energy anywhere there is hot rock. The XGS system decouples geothermal energy production from its historical dependence on natural water resources and geological conditions, unlocking low-risk power project development, geographic flexibility, easier permitting, and faster deployment. XGS's scalable, financeable geothermal energy approach is supported by leading investors globally including Anzu Partners, Aligned Climate Capital, BlueScopeX, B Current Impact Investment, ClearSky, ClimateIC, Constellation Technology Ventures, H&P, MIH Capital, Thin Line Capital, Valo Ventures, VoLo Earth Ventures, and WovenEarth Ventures. Learn more and explore our open roles at https://www.xgsenergy.com.
About Vallourec
Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec's pioneering spirit and cutting-edge R&D open new technological frontiers. With close to 13,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible. Listed on Euronext in Paris (ISIN code: FR0013506730, Ticker VK),
Vallourec is part of the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service. In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.
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Contacts:
Media Contacts:
XGS Energy
Reagan Costa for XGS Energy
xgsenergy@ink-co.com
www.xgsenergy.com
Vallourec
Investor relations:
Daniel Thomson
Tel: +44 (0)75 91 83 74 05
daniel.thomson@vallourec.com
Press relations: Taddeo
Romain Grière
Tel: +33 (0)7 86 53 17 29
romain.griere@taddeo.fr
