Geothermal energy developer Mazama Energy has announced the completion of a $135 million funding round. The company focuses on developing advanced drilling technology designed to access ultra-hot underground resources that have remained unreachable with conventional geothermal power methods.
Mazama Energy is a startup aiming to realize geothermal power generation utilizing super-hot rock. The company is developing engineering techniques designed to break through the limitations of traditional geothermal technology and efficiently reach deeper, higher-temperature geological formations.
Funds raised in this round will primarily be allocated to technological development aimed at increasing drilling depths for super-hot rock geothermal projects. Through this, Mazama Energy seeks to maximize the potential of geothermal energy as a renewable resource, delivering large-scale and stable power as a carbon-free baseload energy source.
This funding round was led by Khosla Ventures.