Mazama Energy closed an oversubscribed $135 million Series B on September 17, 2026, led by Centaurus Capital and Doerr Capital, with ConocoPhillips, Shell Ventures, Khosla Ventures, and Gates Frontier joining. The company is drilling toward 750°F (400°C) engineered geothermal wells that it says can deliver up to 10x the power of conventional wells using far less water and land.
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Mazama Energy raises $135M Series B for superhot-rock geothermal power
Why this matters for founders
Deep-tech and climate founders can cite this as evidence that strategic energy investors are funding hard-tech Series B rounds; useful comp for capital-intensive infrastructure pitches.
Source: GlobeNewswire (Mazama Energy)
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