Kalina Power Limited (ASX: KPO) develops and commercializes supercritical CO2 power generation technology for cost-effective and efficient electricity production from low-to-medium temperature geothermal resources and waste heat sources. The company offers modular Kalina Cycle power plants, geothermal power systems utilizing ammonia-water mixtures for enhanced heat recovery efficiency, and related engineering, procurement, and construction services; it also provides technology licensing, feasibility studies, and performance optimization for renewable energy projects. Kalina Power operates primarily in the renewable energy sector, targeting geothermal developers, industrial waste heat recovery applications, and off-grid power markets in Australia, Southeast Asia, and select international regions. Founded in 2012 and headquartered in Sydney, Australia, the company maintains a focus on sustainable baseload power solutions without notable subsidiaries or parent relationships.
In recent developments, Kalina Power secured a strategic partnership with a major geothermal developer in Indonesia for pilot plant deployment in late 2024, advancing commercialization of its proprietary technology. The company completed a A$5 million capital raise in Q3 2025 to fund expansion into waste heat recovery projects in mining operations across Australia. Additionally, Kalina Power launched an upgraded modular 1MW Kalina Cycle unit in early 2025, featuring 20% improved efficiency over prior models, positioning it for broader adoption in remote and industrial applications.