Mazama Energy Raises $135 Million to Advance Superhot-Rock Geothermal Drilling

Geothermal startup Mazama Energy has raised $135 million in new funding to expand its efforts to drill deep into the Earth's crust in search of superhot rock that could be used to generate electricity, according to a report by TechCrunch.

The company, which is backed by Khosla Ventures, is drilling wells approximately three miles underground, TechCrunch reported. Mazama says a single well capable of reaching superhot rock could generate 15 megawatts of electricity continuously, around the clock.

Superhot-rock geothermal energy relies on drilling far deeper than conventional geothermal projects to reach rock formations where temperatures are high enough to produce steam efficiently, without the need for the naturally occurring hydrothermal reservoirs that traditional geothermal plants depend on. Proponents of the technology argue that if the drilling and engineering challenges can be solved, superhot-rock geothermal could provide a source of clean, baseload power that operates independently of weather conditions, unlike solar or wind energy.

The new funding is intended to support Mazama's continued drilling operations as it works to prove the viability of extracting energy from superhot rock at scale, according to the report.

TechCrunch did not report additional details on the funding round's other participants, the company's valuation, or a specific timeline for when Mazama expects its technology to be commercially deployed.