Impact VCs urge EU to unlock geothermal energy amid Iran war – fossil fuels 'dangerous and expensive'
14 apr. 2026
06:00
Dozens of European VCs have signed an open letter urging the European Commission to treat geothermal as a strategic priority, as war in the Middle East lays bare Europe's dependence on imported fossil fuels.
"Geothermal energy doesn't move through the Strait of Hormuz," signatory Liza Rubinstein Malamud of Carbon Equity tells Impact Loop.
But what is really the deal with geothermal energy?
"Geothermal energy doesn't move through the Strait of Hormuz," signatory Liza Rubinstein Malamud of Carbon Equity tells Impact Loop.
But what is really the deal with geothermal energy?
A coalition of European clean energy investors has urged the European Commission to significantly strengthen its upcoming Geothermal Action Plan, warning that Europe risks missing a strategic opportunity as conflict in the Middle East lays bare its dependence on imported fossil fuels.
The open letter, coordinated by Cleantech for Europe, Future Cleantech Architects, and the European Geothermal Energy Council, was addressed to Commission President Ursula von der Leyen and several commissioners including Wopke Hoekstra and Teresa Ribera.