Khosla-backed Mazama Energy raises $135M to drill deeper into super-hot-rock geothermal

Startup Mazama Energy closed a $135M Series B round. The company drills horizontal wells in super-hot rocks at temperatures up to 400 °C to produce up to 15 MW per well. The first site in Oregon could yield 10 GW, with power generation starting in 2027.

• Round led by Centaurus Capital and Doerr Capital, with ConocoPhillips and Shell Ventures participating
• Wells about 15,000 feet deep access 400 °C heat
• Each well could generate up to 15 MW — 10 times more than traditional geothermal
• By 2030 Mazama plans to reach 200 MW at the first site