Geothermal Startup Mazama Energy Raises $135 Million Backed by Khosla Ventures
The company says it is drilling three miles underground to access superhot rock that could power wells generating 15 megawatts of continuous electricity.
Mazama Energy, a geothermal energy startup backed by Khosla Ventures, has raised $135 million in new funding, according to a report by TechCrunch.
The company is pursuing a technology known as superhot-rock geothermal, which involves drilling roughly three miles underground to reach extremely high-temperature rock formations, TechCrunch reported.
According to the report, Mazama says a single well using this approach is capable of generating 15 megawatts of electricity around the clock.
Superhot-rock geothermal is considered a more technically challenging approach than conventional geothermal energy because it requires drilling much deeper to reach the necessary temperatures, though it can potentially yield significantly more power per well, per the report.
Details on how the $135 million will specifically be deployed, including timelines for well development or commercial deployment, were not disclosed in the available reporting.
TechCrunch did not provide additional information on other investors involved in the funding round or Mazama's current valuation.
Sources
- Khosla-backed Mazama Energy just raised $135M to drill deeper into super-hot-rock geothermal — TechCrunch
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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