Thermochem

What Thermochem does

Thermochem is a privately held, vertically integrated geothermal energy services and equipment company headquartered in Santa Rosa, California, operating through its subsidiary PT. Thermochem Indonesia in Bandung and Jakarta. Founded by Paul von Hirtz and now owned by Kyuden Group entities (Kyuden International Corporation and West Japan Engineering Consultants) following a May 2020 share purchase, the company delivers testing, engineering, consulting, and proprietary instrumentation to geothermal power developers, oil & gas producers, and conventional thermal power operators across more than 35 countries. Its core technical stack centers on chemical process engineering applied to extreme geothermal environments, including the Tracer Flow Testing (TFT®) system for two-phase mass flow and enthalpy measurement, the pH-modification process for silica scale control (invented by Senior Process Chemist Darrell Gallup, holder of 60+ patents), Two-Phase Downhole Sampler and PTS wellbore logging tools, on-line steam purity analyzers, LECM well test facilities, and chemical treatment systems for corrosion, H2S, and mercury management.

Thermochem operates ISO 17025-accredited geothermal fluid laboratories in the USA and Indonesia that analyze liquids, gases, and solids shipped globally. Revenue is generated through a mix of project-based professional services (geochemical exploration, well testing, reservoir tracer testing, power plant performance verification, process chemistry consulting) and hardware sales of its proprietary instruments, often bundled with training so customers can operate systems in-house. The company monetizes its expertise through standards authorship: founder/CTO Paul von Hirtz chairs ASTM committees E44.15 and E44.40 and serves on ASME PTC46 and Indonesia's EBTKE RISN committee, embedding Thermochem methodologies into industry procurement specifications. Marquee customers include Chevron (The Geysers since 1987), Ormat (Puna), KenGen and Reykjavik Energy (long-term TFT® deployments), Pertamina, Contact Energy, SOL/Sarulla, and Zorlu Energy. The 20,000 ft² Santa Rosa Research Center integrates analytical labs, manufacturing, machining, welding, and assembly, while the Bandung facility maintains heavy well test equipment inventory for rapid Asia-Pacific field response.

Name

Thermochem

Legal name

Thermochem, Inc.

Website

https://thermochem.com

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

11–50 employees

Short description

Thermochem is a privately held, Kyuden Group-owned specialty services and equipment company that provides proprietary chemical engineering, instrumentation, and field testing to geothermal power developers and oil & gas operators in 35+ countries, anchored by its TFT® tracer flow and pH-modification technologies.

Ownership category

akta.pro rank

Product category

Geothermal Engineering & Energy Testing Services

NAICS

Testing Laboratories and Services (541380), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414)

SIC

Services-Testing Laboratories (8734), Fabricated Plate Work (Boiler Shops) (3443)

akta.pro primary industry

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC)

akta.pro secondary industry

Water & Utility Testing (PW/WFI/Steam/Gases) (HLAGADAO)

Keywords

• Geothermal engineering services
• Tracer flow testing
• Steam purity analysis
• Geochemical laboratory testing
• Wellbore logging tools

Headquarters

HQ city

Santa Rosa

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Testing and Engineering Services: Consulting and testing services including geochemical exploration, well testing, reservoir tracer testing, power plant performance testing, and process chemistry consulting. Project-based engagements serving energy companies worldwide.
2. Specialized Instrumentation and Equipment Sales: Sale of proprietary equipment including TFT® systems, steam purity analyzers, wellbore logging tools (DHS/PTS), LECM mufflers, pH-modification systems, and chemical treatment equipment. Products sold to customers along with training.
3. Laboratory Analysis Services: Geothermal fluid analysis services from ISO 17025 accredited laboratories in USA and Indonesia. Samples from around the world are shipped for analysis of liquids, gases, and solids.
4. Consulting Services: Technical consulting for corrosion, scaling, geochemical and process modeling, mercury removal and management, and resource assessment.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Thermochem provides testing, engineering, and consulting services alongside specialty instrumentation and equipment supply to the geothermal, oil & gas, and power generation industries. The company designs and builds its own proprietary tools—including Tracer Flow Testing (TFT®) systems, DHS/PTS wellbore logging tools, on-line steam purity analyzers, and pH-modification scale-control systems—and delivers these together with reservoir tracer testing, geochemical sampling, laboratory analysis, and power plant performance testing services.

Product overview

Thermochem is a vertically-integrated service and product company providing testing services, consulting engineering, specialized instrumentation, and equipment to the geothermal, power generation, and oil & gas industries for over 30 years. The company operates two specialized geothermal fluid analysis laboratories (USA and Indonesia) and designs and builds the equipment and instrumentation they use to provide their services. Their product portfolio includes Tracer Flow Testing (TFT®) systems for mass flow and enthalpy monitoring, Two-Phase Downhole Sampler (DHS)/PTS tools for wellbore logging, On-line Steam Purity and Quality Measurement Equipment, pH-modification Equipment for scale and corrosion control, Well Test Facilities (LECM), Chemical Treatment Systems, and Geochemical Sampling Services. Services span exploration geochemistry, well testing, reservoir tracer testing, power plant performance testing, and process chemistry consulting. The company serves customers in over 35 countries worldwide from bases in California (Santa Rosa) and Indonesia (Bandung).

Differentiator

Problem solved

Functional benefit

Products and services

• Tracer Flow Testing (TFT®)
• Reservoir Tracer Test Services
• Two-Phase Downhole Sampler (DHS) / PTS Tool
• On-line Steam Purity and Quality Measurement Equipment
• pH-Modification Equipment
• Well Test Facilities (LECM)
• Geochemical Sampling Services
• Geothermal Laboratory Analysis Services
• Power Plant Performance Testing Services
• Multi-Nozzle Isokinetic Probes and Coolers
• Tracer Injection Skids
• Chemical Treatment Systems
• Pilot Plants and Process Modeling Services
• Steam Quality and Purity Instruments
• Silica Scale Testing and Control Equipment

Quantifiable outcome

• Zero HSE incidents - commitment to zero HSE incidents in all activities
• +2 more outcomes

Named customers14 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• SGS: World-leading testing, inspection and certification company with industrial and energy sector labs — overlaps with Thermochem's laboratory analysis and power plant testing services across a much broader geographic and service footprint.
• Intertek: Global testing, inspection, and certification major with broad energy industry coverage including power plant performance testing and laboratory services — comparable to Thermochem's testing and engineering services line at a much larger scale.
• Halliburton: Major oilfield services firm active in well testing, production chemistry, and laboratory services — already a Thermochem customer through PT. Thermochem Indonesia and a structural threat as a potential in-house developer of comparable high-temperature tools.
• Bureau Veritas: Global TIC firm with power, oil & gas, and industrial testing capabilities — competes with Thermochem for third-party power plant performance verification and industrial lab work, though across far wider end markets.
• Baker Hughes: Diversified energy technology company spanning oilfield services, industrial asset management, and power generation — adjacent to Thermochem's tracer, scale control, and steam purity work, with the engineering depth to enter niche geothermal instrumentation.
• Schlumberger (SLB): World's largest oilfield services company with deep well testing, formation evaluation, and production chemistry capabilities — overlaps with Thermochem's oil & gas tracer and well testing work and has the R&D scale to potentially encroach on specialty geothermal instrumentation.
• TÜV SÜD: Global testing, inspection and certification provider with strong power generation and industrial plant performance testing practices — directly comparable to Thermochem's power plant performance testing services for Zorlu Energy and Contact Energy.

Direct peers

• Ormat Technologies: Ormat designs, builds, and operates geothermal power plants and binary generation units and is both a Thermochem customer and the closest publicly traded specialist in geothermal power equipment — comparable scope in geothermal steam and power systems.
• Core Laboratories: Core Laboratories provides reservoir description, production enhancement, and laboratory analysis to the oil & gas industry globally — closely comparable to Thermochem's ISO 17025 lab and reservoir tracer services for oil & gas operators such as Halliburton and Pertamina EP.
• GeothermEx (Stantec Geothermal Group): GeothermEx, now part of Stantec, is one of the longest-standing geothermal consulting firms globally, providing resource assessment, reservoir engineering, and testing services — directly comparable to Thermochem's consulting, tracer testing, and reservoir characterization offerings.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/TCIenergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Thermochem