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Mazama Energy raises $135M to drill deeper into super-hot-rock geothermal
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Geothermal startup Mazama is drilling three miles underground to tap superhot rock, with one well capable of generating 15 MW of electricity 24/7.
Mazama Energy's funding will accelerate the development of enhanced geothermal systems that could significantly increase electricity generation. By drilling deeper and accessing super-hot rocks, the company aims to tap into a vast new energy resource. This approach could position geothermal energy as a key player in the renewable energy landscape, especially for high-demand sectors like data centers.
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Mazama Energy raised $135 million in an oversubscribed Series B to develop horizontal wells in super-hot rocks.
Each well is expected to produce up to 15 megawatts of electricity, significantly higher than traditional geothermal systems.
The first site in Oregon is projected to generate up to 10 gigawatts of electricity, a major increase from previous estimates.
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Mazama Energy's recent funding of $135 million will be used to advance its geothermal drilling technology, specifically targeting super-hot rock at depths of approximately 15,000 feet. This depth allows the company to access heat at around 750˚ F, enabling higher efficiency in energy production compared to traditional geothermal methods.
The projected output of 15 megawatts per well represents a major leap in capability, as enhanced geothermal systems could potentially yield ten times the power of conventional setups. This significant increase in output could make geothermal a more viable option for meeting the energy needs of growing sectors, particularly those with high electricity demands.
The company's plans extend beyond its initial site in Oregon, with aspirations to develop a second location. With a goal of generating 200 megawatts by 2030, the broader implications of this technology could reshape how we approach renewable energy sourcing, particularly as demands for cleaner energy sources continue to rise globally.
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