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Mazama Energy raises $135M in Series B to advance super-hot-rock geothermal technology for powering AI data centers and large grid loads.

PRIVATESep 18, 2026•about 3 hours ago

Amount Raised

$135 Million

Round Type

Series B

BendEnergyOil And GasRenewable EnergyBiomass Energy

Investors

Khosla Ventures

Description

Mazama Energy, backed by Khosla Ventures, closed an oversubscribed Series B funding round of $135 million. The capital will support development of horizontal wells in super-hot rocks capable of generating 15 megawatts per well. The company plans to begin generating electricity in 2026 from its Oregon site, which has been revised to have potential for 10 gigawatts of capacity. Enhanced geothermal technology is emerging as a promising solution for powering AI data centers with clean energy.

Company Information

Company

Mazama Energy

Location

Bend, Oregon, United States

About

Mazama Energy is a geothermal operator and development company dedicated to advancing technologies and methods for extracting heat from superhot rocks to generate utility-scale, carbon-free, baseload energy. The company’s capabilities are derived from its founders AltaRock Energy and Blade Energy Partners.

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Funding Insights

Based on industry data
Timeline to next round
Series B companies typically work for 15-20 months before raising new capital
Growth expectations
Series B companies are expected to scale rapidly and expand market reach
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

Mazama Energy raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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