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Mazama Energy Raises $135M for Enhanced Geothermal Systems
Confirmed
In Short: Geothermal startup Mazama Energy raised $135 million to drill into super-hot rock formations, aiming to produce up to 10 times more power than traditional geothermal technologies.
Geothermal startup Mazama Energy raised $135 million in an oversubscribed Series B funding round, aiming to revolutionize clean energy generation through enhanced geothermal systems. The company plans to start generating electricity next year, with its first site in Oregon capable of producing 10 gigawatts of electricity.
Mazama's approach involves drilling to depths of up to 15,000 feet, tapping into rock formations that can reach temperatures of 750°F (400°C). At these depths, water turns into a 'supercritical' fluid, absorbing far more energy than ordinary steam.
Vinod Khosla, founder of Khosla Ventures, which led the $135 million funding round, has called enhanced geothermal 'the holy grail' of clean energy due to its massive scalability potential. Khosla Ventures has a history of backing geothermal startups, including Fervo Energy and Sage Geosystems.
Tech companies and data center developers are increasingly turning to geothermal energy as a reliable, 24/7 clean energy source. Competitors like Fervo Energy have already signed deals with Google to provide geothermal power to data centers.
As utilities seek dependable clean energy sources that are not weather-dependent, enhanced geothermal systems like those developed by Mazama could provide a significant solution. The startup's approach, while technically complex, offers a promising path forward for clean energy generation.
What's confirmed
- Geothermal startup Mazama Energy raised $135 million in an oversubscribed Series B funding round, aiming to revolutionize clean energy generation through enhanced geothermal systems. The company plans to start generating electricity next year, with its first site in Oregon capable of producing 10 gigawatts of electricity.
- Mazama's approach involves drilling to depths of up to 15,000 feet, tapping into rock formations that can reach temperatures of 750°F (400°C). At these depths, water turns into a 'supercritical' fluid, absorbing far more energy than ordinary steam.
- Vinod Khosla, founder of Khosla Ventures, which led the $135 million funding round, has called enhanced geothermal 'the holy grail' of clean energy due to its massive scalability potential. Khosla Ventures has a history of backing geothermal startups, including Fervo Energy and Sage Geosystems.
- Tech companies and data center developers are increasingly turning to geothermal energy as a reliable, 24/7 clean energy source. Competitors like Fervo Energy have already signed deals with Google to provide geothermal power to data centers.
- As utilities seek dependable clean energy sources that are not weather-dependent, enhanced geothermal systems like those developed by Mazama could provide a significant solution. The startup's approach, while technically complex, offers a promising path forward for clean energy generation.
What's still developing
- Disrupt 2026: OpenAI, Anthropic, Replit, and more take over 6 industry stages. 25% off tickets now Back by popular demand: Save up to $300 on Disrupt Geothermal startup Mazama Energy raised $135 million in an oversubscribed Series B, the startup said Thursday.
- Enhanced geothermal startups are shaping up to be the dark horse in the battle to power AI data centers and other large loads on the grid.
- Unlike previous geothermal projects, enhanced geothermal startups are targeting deeper and hotter rock.
- Mazama said that will allow each well to produce up to 10 times more power than traditional geothermal technologies.
- Mazama, for example, has drilled past 10,000 feet in 15 days on its way to about 15,000 feet deep.
- Mazama Energy Raises $135M for Superhot Rock Geothermal Tech Khosla-backed startup drills 3 miles deep for 15 MW wells in $135M funding round PUBLISHED: Fri, Sep 18, 2026, 1:04 AM UTC | UPDATED: Fri, Sep 18, 2026, 1:07 AM UTC The Tech Buzz may earn a commission when you buy through links on this page.
- With tech companies desperately seeking reliable clean energy and drilling technology advancing rapidly, superhot rock geothermal might just be the 24/7 renewable solution the grid has been waiting for.
- The geothermal energy sector just got a major shot in the arm.