Khosla-backed Mazama Energy raises $135M for enhanced geothermal drilling

Source Summary

Geothermal startup Mazama Energy has raised $135 million in funding to develop enhanced geothermal systems that drill three miles underground to access superhot rock. The company's technology aims to generate 15 MW of continuous electricity per well, operating 24/7 without weather dependency.

Why it matters

Enhanced geothermal technology offers a dispatchable renewable energy source that operates continuously regardless of weather, addressing a key limitation of intermittent renewables in the energy transition.