On May 21, 2024, XGS Energy, Inc. has closed the transaction. The company has received $20,000,000 in its third and final tranche, bringing total funding to $43,999,992 in the transaction. The transaction was co-led by new investors VoLo Earth Ventures and Valo Ventures, LLC and other participation included from new investors MIH Capital Management, B Current Impact Investment, Thin Line Capital and other individual investors.

The transaction was oversubscribed.