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Evidence base

Sources behind the thesis

Public sources used to support Archegon's website claims. Sources span 2024-2026; last verified July 5, 2026.

All figures referenced on this site are illustrative only; built from public benchmarks; subject to due diligence. Nothing on this website constitutes an offer or invitation to invest, financial advice, or a financial promotion.

Source groups

Evidence by theme

Theme A

AI compute demand and why power is the constraint

Primary source

Epoch AI - Total cost of ownership of a 1 GW AI data center

Epoch AI, 2025. A benchmark-led cost breakdown for gigawatt-scale AI data-centre development, including power, chips, and infrastructure assumptions.

Open source

Benchmark

Hyperscale data centers: cost and scale benchmarks

AI Tool Discovery, 2026. Industry summary using JLL and Turner & Townsend cost benchmarks for large data-centre buildouts.

Open source

Benchmark

Global AI data center construction cost benchmarks

Archdesk, 2026. Construction-cost and delivery-context article used for grid-queue and speed-to-power framing.

Open source

Theme B

Geothermal as firm power and behind-the-meter infrastructure

Primary analysis

Geothermal could meet a large share of hyperscale data-centre power demand

Latitude Media / Rhodium Group, 2025. Analysis used for the claim that geothermal can serve material new hyperscale data-centre demand.

Open source

Primary analysis

Geothermal, behind-the-meter power, and data centres

TechCrunch / Rhodium Group, 2025. Used for behind-the-meter geothermal framing, data-centre demand, and high-capacity-factor power context.

Open source

Industry context

Why geothermal could be a behind-the-meter game-changer

Data Center Frontier, 2025. Industry context for pairing geothermal generation with data-centre loads close to the power resource.

Open source

Theme C

Geothermal economics, Fervo, and next-generation deployment

Primary source

The potential contribution of enhanced geothermal systems to future power supply

Columbia Center on Global Energy Policy, 2024. Roundtable summary on EGS cost, performance, and role in future firm clean power supply.

Open source

Primary source

Fervo Energy announces Project Red technology breakthrough

Fervo Energy, 2023. Company source for Project Red and the commercial EGS proof point used in the Archegon thesis.

Open source

Primary source

Google and Fervo geothermal energy partnership

Google, 2023. Google source on the Fervo partnership and geothermal electricity supporting Nevada data-centre operations.

Open source

Primary source

Enhanced geothermal proven at scale: two years of production data

Fervo Energy, 2026. Operating-data update used to support the claim that Project Red has moved beyond a short demonstration.

Open source

Primary source

Fervo Energy secures non-recourse financing for Cape Station

Fervo Energy, 2026. Project-financing update used as context for EGS scale-up and bankability, not as an Archegon return projection.

Open source

Theme D

The technology frontier and limits: superhot geothermal

Primary source

Superhot rock geothermal power supply characterisation

Clean Air Task Force, 2025. Overview of superhot rock geothermal, EGS resource characterisation, and frontier risks.

Open source

Primary source

Successes from the Iceland Deep Drilling Project

Clean Air Task Force, 2025. Context on the Iceland Deep Drilling Project and the practical lessons from superhot geothermal exploration.

Open source

Research

Towards utilization of superhot geothermal resources

Stanford Geothermal Workshop, 2024. Technical reference on casing, materials, corrosion, and operational challenges for superhot resources.

Open source

Theme E

New Zealand project evidence

Primary source

Contact signs ten-year renewable energy agreement with Microsoft

Contact Energy, 2023. Company release for the Microsoft agreement underwriting Te Huka 3 geothermal generation.

Open source

Primary source

New Zealand's first hyperscale cloud is open for business

Microsoft New Zealand, 2024. Microsoft source for New Zealand cloud-region launch, Te Huka 3 context, and water-free cooling language.

Open source

Primary source

Datagrid Southland data-centre campus

Datagrid, 2026. Company source for the Southland campus concept, renewable-power context, and Tasman Ring cable positioning.

Open source

Context

Data centres ride AI boom in world with finite renewable energy supplies

RNZ, 2024. New Zealand media context on data-centre demand, renewable-energy supply, and geothermal baseload.

Open source

Context

Unlocking the potential of New Zealand's data-centre industry

MinterEllison New Zealand, 2024. Context on cooling, sovereignty, fibre, and local data-centre industry conditions.

Open source

Theme F

Australia and Cooper Basin project evidence

Primary source

Cooper Basin Enhanced Geothermal Systems heat and power development

ARENA, 2012-2015. Government project source for Cooper Basin EGS, hot granite at depth, and Australia's first EGS demonstration pathway.

Open source

Primary source

Habanero Geothermal Project Field Development Plan

ARENA, 2014. Field-development plan used for Cooper Basin subsurface, resource, and development-path context.

Open source

Primary source

Cooper Basin geothermal remediation project

Ventia, 2015. Remediation project source used for the commercial closure and risk framing around the original Cooper Basin geothermal project.

Open source

Context

The hidden lithium treasure of South Australia's Cooper Basin

GeoExpro, 2024. Context on Cooper Basin brines and adjacent subsurface resource interest, not used as a financial claim.

Open source

Research

Habanero fault and induced microseismicity study

NIH / PMC, 2022. Peer-reviewed subsurface reference for Habanero fault behaviour and induced microseismicity.

Open source

Theme G

Cooling, water, and passive or radiative cooling

Technology context

SkyCool Systems radiative cooling technology

SkyCool Systems, 2026. Technology overview used for radiative-cooling context; not used as a site-level performance guarantee.

Open source

Theme H

Desert solar greening and agrivoltaics precedent

Context

China's massive solar farms create cool refuges for plants in the Gobi Desert

RenewEconomy, 2026. Context for solar-array microclimate and desert-greening analogues, not a direct Archegon site-performance claim.

Open source

Primary source

Solar power farms on plateau fuel China's green energy revolution

Government of China, 2024. Government source for Qinghai solar-farm vegetation, wind, and evaporation context.

Open source

Context

NW China Qinghai combats desertification

People's Daily, 2025. Context on vegetation and land-use changes around Qinghai solar development.

Open source

Context

Desert solar fosters greening and animal husbandry

Xinhua, 2025. Additional context for desert solar and grazing analogues in Qinghai.

Open source

Visual assets

Image credits and licence notes

Image credit

Data Center

Gideonwills44, Wikimedia Commons, CC BY-SA 4.0. Used as an illustrative data-centre hero image; displayed with CSS overlay and crop.

Open source Open licence

Image credit

Wairakei Geothermal Power Plant

Ingolfson, Wikimedia Commons, public domain. Used as illustrative New Zealand geothermal infrastructure; not an Archegon site or partner asset.

Open source

Image credit

Cooper Creek DSC03010 SA

Ian Cochrane from Melbourne, Australia, Wikimedia Commons / Flickr, CC BY 2.0. Used as illustrative Cooper Creek landscape context; local file resized for performance and displayed with CSS crop.

Open source Open licence

Image credit

Solar panels with sheep in Belgium

Antalexion, Wikimedia Commons, CC BY-SA 4.0. Used as an illustrative agrivoltaics co-benefit analogue; not a Cooper Basin image.

Open source Open licence