Mazama Energy just smashed its fundraising goal with a $135 million Series B—raising even more than planned—to power the next wave of geothermal energy. Their breakthrough? Horizontal wells that tap into super-hot rocks, aiming for 15 megawatts per well. First project in Oregon could deliver 10 gigawatts—up from 5 last year—and is on track to start generating electricity next year. With AI’s massive energy appetite, this tech could be a game-changer. Already securing land for a second site, they project 200 megawatts by 2030. Backed by heavy hitters like Centaurus Capital, Doerr, ConocoPhillips, Shell Ventures, Khosla Ventures, and Gates Frontier, Mazama is quietly reshaping the future of clean power.
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This is an automated, high-level news summary based on public reporting.
Sources:
https://techcrunch.com/2026/09/17/khosla-backed-mazama-energy-just-raised-135m-to-drill-deeper-into-super-hot-rock-geothermal/
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