Endoria's technology should currently be considered pre-commercial and in the advanced development stage. We do not assign a single definitive TRL to the complete Endoria system yet, because it combines several technologies with different levels of maturity.

Important elements are already demonstrated. For example, the Iceland Deep Drilling Project (IDDP) has demonstrated drilling into superhot conditions using conventional geothermal drilling approaches, while the broader EGS field has already progressed to pilot and commercial demonstration projects. At the same time, the complete combination targeted by Endoria - a closed-loop, single-borehole system operating at SuperHot temperatures without hydraulic fracturing - has not yet been demonstrated at commercial scale. IDDP itself continues to develop technologies for resources beyond 400°C, with IDDP-3 scheduled to begin drilling in 2026.

This is also consistent with the current state of the wider industry. The U.S. ARPA-E SUPERHOT programme, for example, is specifically funding technologies for wells operating above 375°C and 22 MPa, with a target of achieving 15+ years of well life. ARPA-E explicitly identifies high-temperature materials, well construction and heat-extraction technologies as areas still requiring further development.

Endoria is therefore not claiming that the technology is already fully commercialised. We are working with specialist technology, drilling, geothermal and engineering partners to bring the individual components together into a commercially viable system. Some of this development is proprietary and will not be disclosed publicly.

An important consideration is that a component requiring replacement or maintenance does not necessarily constitute failure of the geothermal project as a whole. If a high-temperature component has a shorter service life than the well itself, it can potentially be replaced, upgraded or accessed through maintenance or re-entry drilling. Future replacement equipment is also likely to benefit from continuing advances in high-temperature materials and geothermal technology. Such interventions would have a cost, but they should be considered as part of the long-term operation and evolution of a major energy asset.

This is why Endoria is looking for forward-thinking technology, industrial and financial partners who are prepared to develop the next generation of geothermal energy together.