US Firm Eyes World's Hottest Engineered Geothermal Power System
The funding will help Mazama drill hotter wells and advance Project Ceres, which aims to demonstrate 15 megawatts per well in 2027.
- Mazama Energy raised $135 million in an oversubscribed Series B funding round on Thursday to accelerate superhot geothermal technology development near Oregon's Newberry Volcano.
- Centaurus Capital led the oversubscribed round, with President John Arnold stating "superhot geothermal offers the promise of firm, carbon-free power," though realizing that potential requires significant technical innovation.
- The startup demonstrated record-breaking heat of 331°C at its pilot site last year and recently completed a second well about 80% faster, positioning Mazama to target 400°C.
- New financing will fund Project Ceres, supported by the U.S. Department of Energy, to advance horizontal well development and demonstrate 15 MWe of capacity per well.
- Mazama targets independent certification of more than 10 gigawatts of resource potential at Newberry, positioning the company to provide scalable, 24/7 clean electricity for long-term energy markets.
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TechCrunch
BizTocKhosla-backed Mazama Energy just raised $135M to drill deeper into super-hot-rock geothermal
Geothermal startup Mazama is drilling three miles underground to tap superhot rock, with one well capable of generating 15 MW of electricity 24/7.
Mazama Energy raises $135M for superhot geothermal at Oregon volcano
The startup Mazama Energy just nabbed $135 million to accelerate its next-generation geothermal activities near Oregon’s Newberry Volcano. Mazama is seeking to generate clean electricity from superhot rocks — an emerging and largely unproven approach that could have an enormous payoff for the power sector. That’s…
Mazama Energy Raises $135 Million to Scale the World's Hottest Engineered Geothermal System
Series B led by Centaurus Capital and Doerr Capital, with ConocoPhillips, Shell Ventures, Khosla Ventures and Gates Frontier participating, enabling Mazama to push beyond 750°F and demonstrate a commercially scalable pathway to deploy superhot rock geothermal DALLAS, Sept. 17, 2026 (GLOBE NEWSWIRE) — Mazama Energy today announced $135 million in new capital to accelerate superhot […]
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