Mazama raises $135 million to take geothermal deeper
Some startups chase the cloud. This one is drilling in the other direction. Mazama Energy announced $135 million in new capital, including a Series B, to advance geothermal power from extremely hot rock.
The actual story.
The September 17 company announcement names Centaurus Capital and Doerr Capital as the round’s leaders. Mazama says its Oregon work is progressing toward hotter rock and horizontal wells, with a power-generation demonstration targeted for 2027. Those are development goals, not electricity already being delivered at commercial scale. The appeal is a potential source of steady power; the difficult part is making drilling, reservoirs, and heat extraction work together repeatedly and economically. Funding buys the next attempt to prove that system.
The pitch is hot rock. The milestone to watch is demonstrated, repeatable power production.
Receipts, not rumors.
Read the original reporting: Mazama Energy via GlobeNewswire ↗
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