Mazama Energy raises $135 million to develop deep geothermal wells

Mazama Energy, a geothermal technology startup, has begun drilling a deep well three miles beneath the Earth's surface to access super‑hot rock formations capable of producing continuous power. The project, located in a geologically active region of the western United States, aims to demonstrate the viability of ultra‑deep geothermal systems that can operate round‑the‑clock, regardless of weather conditions.

According to company officials, the initial well is designed to generate up to 15 megawatts of electricity continuously, supplying enough power for roughly 10,000 homes. If successful, the venture could expand to additional wells and scale the technology for broader commercial deployment, offering a low‑carbon, baseload energy source that complements existing renewable portfolios. Mazama’s effort marks a significant step toward unlocking deeper geothermal resources and diversifying the United States’ clean‑energy infrastructure.