Article

Jordkraft, founded in 2023 by Johan Asplund, Anders Myrbäck, and Jessica Friberg, is developing modular geothermal power plants that can produce electricity for up to 4,000 Swedish households per unit. The company’s patented technology involves drilling approximately seven kilometers into the earth to extract energy from heat, which is then converted into electricity using turbines.

Unlike competitors in the U.S. that use multiple drilling holes, Jordkraft focuses on efficiency and smaller plants that blend into nature. The company aims to demonstrate its technology in Ukraine by early 2026, in collaboration with the state energy firm Naftogaz.

A funding round is planned to support testing, with each plant estimated to cost around 225 million SEK. The initiative addresses energy resilience, particularly in regions vulnerable to supply disruptions.