Rodatherm Energy wants to make geothermal more efficient, but will it be cheaper?

Rodatherm Energy, a new geothermal startup, emerged from stealth Monday with $38 million in funding and a plan to build a pilot plan in Utah. 

The startup differentiates itself by plumbing its boreholes with a closed loop, likely made of steel, that’s filled with a refrigerant. That contrasts with other enhanced geothermal companies, which tend to use water to transport heat from deep within the Earth.

The Series A round was led by Evok Innovations with participation from Active Impact Investments, Giga Investments, Grantham Foundation…