XGS Energy Promotes Dr. Axel-Pierre Bois to Chief Technology Officer and Dr. Lucy Darago to Chief Commercial Officer, Establishes Houston Office

HOUSTON--(BUSINESS WIRE)--Aug 20, 2024--

XGS Energy, an innovator in geothermal energy technology and project development, today announced that Axel-Pierre Bois, Ph.D., has been promoted to Chief Technology Officer (CTO) and Lucy Darago, Ph.D., has been promoted to Chief Commercial Officer (CCO). The move comes as XGS continues to build its project pipeline and significantly expands its operational footprint in Houston, Texas.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240820805130/en/

Dr. Axel-Pierre Bois, CTO & Dr. Lucy Darago, CCO (Photo: Business Wire)

“Axel and Lucy’s proven operational excellence and technical knowledge has helped propel XGS forward as we enter our next phase of growth,” said Josh Prueher, CEO of XGS Energy. “I’m thrilled to have them both join XGS’ C-suite and have their support as we continue to grow our team, further advance our next-generation geothermal technology, and invest in our multi-gigawatt project pipeline.”

Axel-Pierre Bois, Ph.D., CTO, joined XGS in February 2023 as Senior Vice President, Technology, leveraging his more than 30 years of experience in geomechanics, wellbore integrity, completions design, and cement and rock testing to design XGS’ thermally conductive materials system for advanced geothermal energy production. Prior to XGS, Axel founded and served as CEO of CURISTEC, a technical advisory firm providing services in oil and gas, geothermal, and geologic storage industries. Axel is a leading expert in technology development and testing for extreme subsurface environments, including the superhot and supercritical conditions crucial for high-performance geothermal energy production. He holds a Ph.D. in Geomechanics from the Université de Sherbrooke, in Quebec, Canada.

“We have developed a unique and proprietary approach to boosting the heat-harvesting potential of geothermal wells that is ready for commercial deployment in a range of environments today. I am excited to continue to grow our incredible team of scientists and engineers working on this important technology,” said Axel-Pierre Bois. “We’re at the beginning of what this technology can unlock when it comes to supplying reliable, clean, and affordable geothermal energy globally.”

Lucy Darago, Ph.D., CCO, also joined the XGS team in February 2023 as Vice President, Strategy, leading XGS’ financing strategy, including the $20 million Series A expansion announced earlier this year, and working closely with XGS’ technical and operational teams on go-to-market approach. In her new role, Lucy will be responsible for XGS’ global project development and will maintain a leading role in corporate affairs. Prior to XGS, Lucy led clean energy studies and investment strategies for renewable energy developers, utilities, integrated energy companies, and large-scale energy consumers as a Principal at Boston Consulting Group. Lucy holds a Ph.D. in Chemistry from the University of California, Berkeley.

“It’s an exciting time to bring XGS’ technology to market. Demand for carbon-free baseload energy is at a record high, and the XGS system’s ability to unlock geothermal in more places, in a predictable and bankable way, is tailor-made for this moment,” said Lucy Darago. “I am honored by our team and Board’s trust and look forward to helping drive the next stage of growth for XGS.”

The XGS leadership team expansion comes at a time of rapid advancement. The company recently leased over 10,000 square feet of office space in Memorial City, between downtown Houston and the Energy Corridor. XGS is planning for continued growth in the Houston area, leveraging the region’s leading engineering and operational workforce and intensifying energy transition activity.

To learn more about XGS Energy, please visit https://www.xgsenergy.com.

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, BlueScopeX, B Current Impact Investment, Constellation Technology Ventures, H&P, MIH Capital, Thin Line Capital, Valo Ventures, and VoLo Earth Ventures. Learn more and explore our open roles at https://www.xgsenergy.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20240820805130/en/

CONTACT: Media

Brandon Reid for XGS Energy

breid@xgsenergy.com

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: OTHER MANUFACTURING OTHER SCIENCE TECHNOLOGY RESEARCH ENGINEERING MANUFACTURING NUCLEAR ENVIRONMENT OTHER ENERGY UTILITIES OIL/GAS GREEN TECHNOLOGY COAL ALTERNATIVE ENERGY ENERGY OTHER TECHNOLOGY OTHER NATURAL RESOURCES MINING/MINERALS SCIENCE NATURAL RESOURCES

SOURCE: XGS Energy

PUB: 08/20/2024 09:00 AM/DISC: 08/20/2024 09:00 AM

http://www.businesswire.com/news/home/20240820805130/en