Sage Geosystems, a company pioneering Pressure Geothermal, closed over $97 million in Series B funding to advance its geothermal power generation and energy storage solutions, including its first commercial next-generation geothermal power generation facility. <\/p>\n\n\n\n
Ormat Technologies and Carbon Direct Capital co-led Sage\u2019s Series B round, representing the full backing of Sage and Pressure Geothermal technology from leaders in geothermal energy and growth capital. Sage\u2019s clean, firm power and long-duration energy storage solutions will support the continued build-out of AI data centers.<\/p>\n\n\n\n
Sage will deploy its first commercial Pressure Geothermal power generation facility at an existing Ormat power plant. The facility will use Sage\u2019s proprietary technology to extract geothermal heat energy from hot dry rock, supplying reliable and affordable carbon-free power. Sage\u2019s strategic commercial agreement with Ormat will accelerate the time needed to bring Pressure Geothermal to market and scale up to meet rising demand for firm power and energy independence.<\/p>\n\n\n\n
\u201cPressure Geothermal is designed to be commercial, scalable, and deployable almost anywhere,\u201d said Cindy Taff, CEO of Sage Geosystems. \u201cThis Series B allows us to prove that at commercial scale, reflecting strong conviction from partners who understand both the urgency of energy demand and the criticality of firm power.\u201d<\/p>\n\n\n\n
Sage\u2019s next-generation Pressure Geothermal technology transforms the Earth\u2019s natural heat and pressure into a reliable, secure, and commercial-scale energy source for power generation, long-duration energy storage, and district heating. Pressure Geothermal creates a fully engineered underground reservoir of hot water that expands and contracts with the Earth\u2019s natural elasticity. By tapping into hot, dry rock formations found worldwide, Pressure Geothermal unlocks over 130 times more geothermal resource potential in the U.S. alone.<\/p>\n\n\n\n
\u201cThis investment builds on the strong foundation we\u2019ve established through our commercial agreement and reinforces Ormat\u2019s commitment to accelerating geothermal development,\u201d said Doron Blachar, CEO of Ormat Technologies. \u201cSage\u2019s technical expertise and innovative approach are well aligned with Ormat\u2019s strategy to move faster from concept to commercialization. We\u2019re pleased to take this natural next step in a partnership we believe strongly in.\u201d<\/p>\n\n\n\n
\u201cEnhanced Geothermal Systems (EGS) are extremely well-positioned to deliver for hyperscalers, who want clean firm power for their AI computing needs,” said Jonathan Goldberg, CEO at Carbon Direct Capital. “Sage’s pressurized EGS technology is advantaged on both economic and environmental evaluation criteria.\u201d<\/p>\n\n\n\n
In August 2024, Sage announced its partnership with Meta to deliver up to 150 MW of new geothermal baseload power at a location east of the Rocky Mountains in the U.S. to support Meta\u2019s data center growth.<\/p>\n","protected":false},"excerpt":{"rendered":"
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