Portfolio Company Update - Vesari Inc

Tekcapital plc

17 July 2026

 

17 July 2026

Tekcapital plc

("Tekcapital" or the "Company")

Portfolio Company Update

Vesari Inc. Appoints Renowned Geothermal Scientist

Dr. Joseph N. Moore to its Science Advisory Board

Tekcapital plc (AIM: TEK), the UK intellectual property investment group focused on creating valuable products that can improve people's lives, is pleased to provide an update for Vesari Inc. ("Vesari") which is developing technology for a fully integrated, behind-the-meter, geothermal-powered hyperscale AI compute campus.

The Company is pleased to announce that Vesari has appointed Dr. Joseph N. Moore, one of the world's foremost authorities on the geology and geochemistry of geothermal systems, to its newly formed Science Advisory Board.

Dr. Moore has a career spanning five decades. He holds a Ph.D. in Geology from the Pennsylvania State University and serves at the University of Utah as Research Professor Emeritus in the Department of Civil and Environmental Engineering and as Adjunct Professor in the Department of Geology and Geophysics. From 2014 to early 2026, he served as Managing Principal Investigator of Utah's Frontier Observatory for Research in Geothermal Energy (FORGE), the approximately $300 million, DOE-funded, field-scale laboratory for developing and testing the tools and technologies of enhanced geothermal system (EGS) development, and the flagship of U.S. enhanced-geothermal research. He was also Managing Principal Investigator of the successful Raft River, Idaho EGS Demonstration Project, which illustrated the importance of cold-water injection as a tool for enhancing reservoir permeability.

Over his career, Dr. Moore has authored hundreds of scientific publications and technical reports, contributed chapters to leading reference texts on geothermal power production, and served on the editorial boards of the field's principal journals, including Geothermal Energy (Springer Nature), where he still serves. His contributions have been recognised with several of the geothermal community's most prestigious honours, including the Joseph W. Aidlin Award (2017), the Henry J. Ramey, Jr. Geothermal Reservoir Engineering Award (2023), and the Geothermal Resources Council Pioneer Award (2009). He is a Fellow of the Geological Society of America, was recognised in 2023 among the top 25 researchers at the University of Utah, and in 2025 received a Citation for Achievements in Geothermal Energy from the Utah State Legislature. He served for fifteen years (2003-2018) on the Board of Directors of the Geothermal Resources Council (now Geothermal Rising).

Vesari Science Advisory Board

Vesari is assembling a Science Advisory Board of distinguished scientists with deep expertise across the three technical pillars of its platform: geothermal energy; hyperscale power and heat management; and low-Earth-orbit satellite laser data transmission. Together, these disciplines underpin Vesari's vision of clean, firm, and highly efficient, geothermal powered, behind-the-meter computing infrastructure for the AI era.

Clifford M. Gross, Ph.D., Executive Chairman of Tekcapital, commented:

"Dr. Moore's work has helped define the modern scientific understanding of geothermal systems, from the Raft River EGS demonstration to his leadership of Utah FORGE, the flagship of America's enhanced-geothermal research. As Vesari seeks to build a new generation of geothermal-powered, hyperscale AI infrastructure with its proprietary technology, having a scientist of Joe's standing to help guide our subsurface and reservoir strategy is invaluable. He is the first of several distinguished advisors we look forward to welcoming to Vesari's Science Advisory Board."

Dr. Joseph N. Moore added:

"Geothermal energy is uniquely suited to deliver the clean, firm, around-the-clock power that AI computing now demands. Vesari's approach to pairing baseload geothermal generation directly with high-density compute is a compelling application of the science, and I look forward to contributing to the Company's development."

About Tekcapital plc

Tekcapital creates value from investing in new, university and corporate developed discoveries that can enhance people's lives. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM symbol: TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.

About Vesari Inc.

Vesari Inc. is developing the technology for a fully integrated, behind-the-meter, geothermal-powered hyperscale AI campus for 24/7 carbon-free compute. Its patent-pending, protected architecture is designed to improve the efficiency and economics of AI infrastructure, independent of the public grid. For more information, please visit www.vesari.ai.

Tekcapital holds 51% of the common stock of Vesari Inc.

LEI: 213800GOJTOV19FIFZ85

For further information, please contact:

Tekcapital Plc	Via Flagstaff
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP	[phone]
(Nominated Adviser and Broker)
Matthew Johnson / Charlie Bouverat (Corporate Finance)
Flagstaff Strategic and Investor Communications	[phone]
Tim Thompson / Andrea Seymour / Fergus Mellon

Forward-Looking Statements and Risk Factors

This announcement contains forward-looking statements regarding the Company's and Vesari's objectives, strategy and plans. Such statements involve known and unknown risks and uncertainties, many of which are beyond the Company's control, and actual results may differ materially. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this announcement. The appointment of members to Vesari's Science Advisory Board does not guarantee any particular technical, commercial or financial outcome, and Vesari's development programme remains at an early stage and is subject to significant risks and uncertainties. The Company does not undertake to update any forward-looking statements, except as required by law.

 

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