Mazama Energy raises $135 million for 10-gigawatt Oregon geothermal
Mazama Energy has landed $135 million in new funding to push forward its next-generation geothermal projects.
The big idea? Drilling deep into super-hot rocks in Oregon to create horizontal wells, each set to generate 15 megawatts of electricity.
Their first site is now expected to launch next year with a huge 10-gigawatt capacity: double what they first planned.
Mazama Energy taps 750°F supercritical heat
Mazama's tech goes over 10,000 feet underground to tap into 750 degrees Fahrenheit heat, creating a "supercritical" fluid that boosts how much energy they can pull out.
This approach could help meet the rising power needs of AI data centers and the grid.
Backed by investors like Centaurus Capital, Shell Ventures, and Khosla Ventures, Mazama aims for even bigger things: finishing the Oregon site by 2030.
Tapping just 1% of super-hot rock worldwide could generate more than 63 terawatts of electricity.