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United States · Climate tech · Industrial tech
A geothermal developer building enhanced geothermal systems that create engineered reservoirs in very hot rock to deliver round-the-clock electricity.
Mazama develops superhot-rock enhanced geothermal projects. Its system drills into hot hard rock and creates a reservoir through which water can circulate, carrying heat back to the surface for power generation. The company’s Newberry pilot drilled 10,200 feet and demonstrated a reservoir at 629°F; commercial electricity generation remains a future project milestone, rather than an already operating power plant.
The intended customers are utilities, grid operators and large power users seeking firm, low-carbon electricity. Mazama’s approach is designed to expand geothermal beyond places with naturally permeable reservoirs by drilling into hot rock and engineering pathways for heat transfer.
| Announced | Round | Amount | Investors |
|---|---|---|---|
| Series B | $135M | Centaurus Capital — LeadDoerr Capital — LeadConocoPhillips — ParticipantGates Frontier — ParticipantH. Barton Asset Management — ParticipantJeffrey and Marieke Rothschild Foundation — ParticipantKhosla Ventures — ParticipantShell Ventures — ParticipantSiteGround Capital — Participant |