Virginia is unlocking affordable geothermal energy for builders and buyers. September 23, 2026 For decades, geothermal was too expensive and too exclusive for the mass market. It was a feature reserved mostly for luxury, custom homes, not a solution that high-volume production builders could easily adopt. Innovation, scale, and financial incentives have changed this equation. Following Maryland's successful geothermal incentive program, Virginia passed its own Geothermal Renewable Energy Credit (G-REC) program. Beginning in 2027, utilities will pay builders and homeowners for the energy demand reductions from geothermal heating and cooling. Stack these state credits with the federal Investment Tax Credit (ITC) through Dandelion Energy's innovative lease-to-own model in partnership with Upstream Lease, geothermal installations are as affordable (or even less expensive) to install than traditional HVAC systems. As a result, Virginia's production builders can now offer premium, highly efficient home heating and cooling without driving up costs. In turn, buyers gain a more affordable and reliable HVAC solution that reduces energy consumption, especially during peak-demand periods. Virginia ratepayers get a more secure and affordable electric grid. Here is how new state policies, federal incentives, and innovative third-party leasing are bringing affordable geothermal to builders and buyers across the state. Geothermal pays for itself right now. Geothermal used to be a premium you had to justify. In Virginia, it now pays its own way before the first buyer walks through the door. Virginia's G-REC program lets geothermal systems earn tradable credits based on the energy they save compared to standard electric heating. Utilities buy those credits to meet state clean energy targets, and they can be sold upfront, cutting roughly $10,000 off installation costs per home. Stack that with the federal Investment Tax Credit, worth 40-50% for qualified geothermal installations through 2035, and the math changes entirely. Dandelion Energy partnered with Upstream Lease to capture both incentives upfront and pass the savings directly to your project. The result is a $0-down installation model. You get a premium, differentiated offering at no added cost to your build. Your buyers win too. They lease the system for $10 to $50 a month, about the cost of a streaming subscription, and save an estimated 30% to 40% on heating and cooling compared to air-source heat pumps. That's a selling point your sales team can put a number on. The new standard for Virginia real estate. Home buyers want premium products, cost-saving efficiency, and sustainable features, and they want them at a price they can afford. Dandelion Energy is incredibly excited to be helping make this possible in Virginia. Geothermal is already the most efficient way to heat and cool homes, using the earth's constant underground temperature, rather than fighting the outside temperatures. With this high efficiency, the benefits are significant and many-sided. Developers and builders can offer a premium product without incurring higher costs, buyers enjoy lower utility bills and protection against future electric rate increases, a more reliable and lower maintenance system, as well as better home comfort. Across the Commonwealth, all ratepayers benefit from lower energy overall, especially during peak demand periods, reducing strain to the grid. Beyond energy savings, geothermal delivers: * Reliable comfort in every season * Better aesthetics without noisy outdoor condenser units * The longest lifespan of any HVAC product * Added home value and buyer appeal It's a win on every front made possible by Dandelion's production-scale model paired with state and federal incentives. Dandelion Energy has already installed over 4,000 heat pumps, drilled 1 million feet, and partnered on neighborhoods across the DMV, with builders like Lennar, Dream Finders, and Ward. Ready to see how geothermal fits into your building plans? Whether you're a builder looking to differentiate your next project or a buyer looking for a better HVAC solution, Dandelion Energy is here to help you take the next step.

Dandelion Energy grows nationwide financing capacity with launch of "Geo-as-a-Service" Offering. March 10, 2026 Dandelion Energy, the nation's leading provider of residential geothermal heating and cooling solutions, today announced the expansion of its financing offerings with a strategic partnership with Diverso Energy, the leading provider of geothermal services in Canada. Diverso Energy is majority-owned by CVC DIF, the infrastructure strategy arm of CVC who manages over €200bn of AUM, and will provide financing and access to investment tax credits for residential developments with Dandelion nationwide. Launch of "Geo-as-a-Service" for homebuilders. Today's announcement includes the launch of Dandelion's Geo-as-a-Service program to provide builders nationwide with a zero-upfront-cost pathway to the most efficient, effective, and durable home heating and cooling solution available. The partnership signals significant validation of the US geothermal market and will accelerate geothermal adoption across the country. The expansion of Dandelion's financing capacity follows its fall 2025 launch of the first-of-its-kind leasing program that allows builders to install geothermal heating and cooling for less than a standard HVAC system. Dandelion's announcement today includes a new geothermal infrastructure investment in the U.S., expands its current lease available in 14 states to a full national offering, and provides new, flexible financing options that solidify Dandelion as the premier geothermal partner for builders nationwide. Removing barriers to adoption. By leveraging Third-Party Ownership (TPO) structures, Dandelion removes the up-front capital expenditure, which has been the primary barrier to geothermal adoption. Dandelion enables builders to: * Eliminate up-front costs: Install premium geothermal systems at or below the cost of traditional, less efficient HVAC units. * Boost Profitability & Sales Velocity: Builders can offer a premium, high-performance home that differentiates them in the market. * Future-Proof Compliance: Geothermal systems easily meet and exceed tightening energy codes and efficiency standards without complex workarounds. Under this model, Dandelion and its partner Diverso finance, install, and own the geothermal system, providing the builder with a turnkey solution that delivers significant benefits to homebuyers. This solution will provide homebuyers across the country with access to the premium home heating and cooling technology. Geothermal systems are quiet, comfortable, low maintenance and durably last longer than conventional systems. They are also the most efficient solution available with operating costs savings of $500-$1,000+ per year on utility costs. The Geo-as-a-Service offering enables homeowner access to geothermal through a simple service payment designed to be in line with their significant utility bill savings - cash flow positive from day one. The Geo-as-a-Service model is supported by legislative provisions, such as those preserved in H.R. 1, which enable third-party ownership models and maintain the Commercial Investment Tax Credit (ITC) for geothermal energy. "Dandelion's Geo-as-a-Service model will be a catalyst for the industry's affordability, accessibility, and scalability," said Dandelion Energy CEO Dan Yates. "We are thrilled to be able to deliver a superior, premium product to builders without increasing their costs and make geothermal accessible to more homeowners than ever before." In cold climates, these systems use roughly 60% less electricity on peak cold days than air-source heat pumps, making it the most affordable electrification solutions for homes and buildings. Geothermal helps utilities ensure long-term grid stability while reducing carbon emissions. At scale, these implementations can save 7.5 million lbs of CO2, the equivalent of planting 135,000 trees. "This partnership represents a massive opportunity to scale geothermal as part of the U.S. energy transition," said Tim Weber, CEO at Diverso Energy. "Dandelion's operational scale combined with our expertise in managing long-term renewable assets creates a turnkey solution for the industry. Together, we are de-risking geothermal for the biggest builders in the country." About Dandelion Energy. Dandelion Energy is a leading provider of residential geothermal heating and cooling solutions with a mission to make geothermal energy accessible and affordable for all homeowners. Since 2017, Dandelion has installed thousands of residential geothermal heat pumps and over 1 million linear feet of ground loops throughout the United States. The nation's leading homebuilders partner with Dandelion to bring the benefits of geothermal to their home buyers. For more information, please visit www.dandelionenergy.com. About Diverso Energy. Diverso Energy Inc. offers a unique geoexchange utility model for low-rise, multi-family, office, and institutional buildings. Diverso designs, builds, owns, and operates geoexchange utility systems allowing clients to leverage the significant benefits of geoexchange without traditional financial or operating risks. Diverso has helped hundreds of clients, including some of Canada's leading real estate developer partners, benefit from its unique combination of financial and technical solutions, accelerating the transition to electrified buildings. For more information, please visit www.diversoenergy.com. About CVC DIF. CVC DIF is a leading global mid-market infrastructure equity fund manager. Founded in 2005 and headquartered in Amsterdam, the Netherlands, CVC DIF has c.€23 billion of infrastructure assets under management in energy transition, transport, utilities and digitalisation. With over 250 people in 12 offices, CVC DIF offers a unique market approach, combining a global presence with the benefits of strong local networks and sector-focused investment capabilities. CVC DIF forms the infrastructure strategy of leading global investment manager CVC. This partnership allows CVC DIF to benefit from CVC's global platform, with 30 offices across six continents. For more information, please visit www.cvcdif.com. Press Inquiries: Kathy Berardi JMG Public Relations [email protected] 678-644-4122

Diverso Energy and Dandelion Energy partner to accelerate geothermal deployment across U.S. Housing markets. Mar 10, 2026, 07:00 ET A pivotal step for geothermal energy and Diverso's Canadian-built utility platform TORONTO, March 10, 2026 /CNW/ - Diverso Energy, North America's leading fully integrated geothermal utility company, today announced a strategic partnership with U.S.-based Dandelion Energy aimed at accelerating large-scale deployment of geothermal infrastructure across new residential housing developments in the U.S. The collaboration brings together Diverso's utility ownership business model and long-term operations platform with Dandelion's builder deployment capabilities and innovative geothermal delivery model. In turn, homebuilders can adopt geothermal heating and cooling without the typical upfront capital investment or premium to the homeowner. Together, the companies intend to remove the barriers to large-scale geothermal adoption across new low-rise communities to meet the demand for fully-electric housing solutions in the U.S. "Geothermal has reached an inflection point," said Tim Weber, CEO of Diverso Energy. "Developers are no longer asking whether geothermal works - they're asking how to implement it consistently across portfolios. As the industry leader in Canada, it was a perfect opportunity to partner with U.S. industry leader Dandelion, to create standardized infrastructure delivery in the United States." While geothermal systems have long been recognized for their performance and reliability, widescale adoption has historically been constrained by fragmented project delivery models and cost premiums. Diverso's Energy-as-a-Service platform addresses this challenge by designing, building, owning, and operating geothermal systems as long-term utility infrastructure, shifting energy systems from capital expenditure to predictable operating costs for homeowners. As a portfolio company of CVC DIF, the infrastructure strategy arm of CVC, a leading global investments manager with over €200bn of AUM, Diverso is fully capitalized to finance and operate geothermal systems as durable, institutional-grade utility assets. Under the partnership, Diverso's proven business model will support Dandelion's Geo-as-a-Service delivery approach, enabling scalable geothermal deployment across entire U.S. housing communities. "Dandelion's mission is to make geothermal a mainstream home heating and cooling solution," said Dandelion Energy CEO Dan Yates. "By combining Dandelion's design and deployment capabilities with Diverso's financing and infrastructure platform, the superior HVAC solution becomes the easiest and most cost-effective choice for builders across the country." Across North America, housing markets are increasingly focused on delivering new housing at scale at no additional cost to homeowners. The companies believe geothermal infrastructure can play a central role in that transition by providing: * predictable long-term operating costs * reduced mechanical complexity * improved building resilience * and scalable electrification compatible with evolving building standards. Conventional heating and cooling equipment is noisy, inefficient, takes up valuable outdoor space, and must be included in the cost of the home. As an alternative, this partnership advances a geothermal business model where the energy infrastructure is planned, financed, and operated like any other essential utility. "The partnership provides an opportunity for geothermal to transition from early adoption toward mainstream infrastructure deployment," says Weber. "We see ourselves as a real estate partner-our role is to remove the barriers to entry so developers can focus on delivering affordable housing." About Diverso Energy Diverso Energy Inc. offers a unique geoexchange utility model for low-rise, multi-family, office, and institutional buildings. Diverso designs, builds, owns, and operates geoexchange utility systems allowing clients to leverage the significant benefits of geoexchange without traditional financial or operating risks. Diverso has helped hundreds of clients, including some of Canada's leading real estate developer partners, benefit from its unique combination of financial and technical solutions, accelerating the transition to electrified buildings. www.diversoenergy.com About Dandelion Energy Dandelion Energy is a leading provider of residential geothermal heating and cooling solutions with a mission to make geothermal energy accessible and affordable for all homeowners. Since 2017, Dandelion has installed thousands of residential geothermal heat pumps and over 1 million linear feet of ground loops throughout the United States. The nation's leading homebuilders partner with Dandelion to bring the benefits of geothermal to their home buyers. For more information, please visit www.dandelionenergy.com. About CVC DIF CVC DIF is a leading global mid-market infrastructure equity fund manager. Founded in 2005 and headquartered in Amsterdam, the Netherlands, CVC DIF has c.€23 billion of infrastructure assets under management in energy transition, transport, utilities and digitalisation. With over 250 people in 12 offices, CVC DIF offers a unique market approach, combining a global presence with the benefits of strong local networks and sector-focused investment capabilities. CVC DIF forms the infrastructure strategy of leading global investments manager CVC. This partnership allows CVC DIF to benefit from CVC's global platform, with 30 offices across six continents. For more information, please visit www.cvcdif.com. SOURCE Diverso Energy LP Media Contact: Stephen Rouse, Carouse Communications for Diverso Energy, 416-402-6876, [email protected]