Houston, Texas, United States, May 2026 — Richard Chong has started a new position as Chief Financial Officer (CFO) at XGS Energy, bringing more than three decades of finance, energy, project finance, and strategic leadership experience across major global energy organizations.
Before joining XGS Energy, Richard spent nearly 19 years with Calpine Corp, where he served as Vice President Finance, leading critical financial strategy, capital planning, and operational finance initiatives within one of America’s leading energy generation companies.
Prior to Calpine, Richard served as Finance Director at CMS Energy, where he built deep expertise in utility and energy finance over an eight-year tenure.
Earlier in his career, Richard held roles with EY in the Project Finance Group and with Coopers & Lybrand as Audit Supervisor, establishing strong foundations in financial governance, audit, and large-scale project finance.
Richard is also a Chartered Accountant (ICAEW), further strengthening his leadership profile with globally recognized financial credentials.
About XGS Energy
XGS Energy is a geothermal energy company headquartered in Palo Alto, California. Through its proprietary heat harvesting technology and closed-loop well architecture, XGS Energy is focused on enabling global deployment of terawatt-scale geothermal heat and power, contributing to the advancement of sustainable and scalable clean energy solutions.
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