Khosla-backed Mazama Energy raises $135M for super-hot rock geothermal drilling

Mazama Energy, a geothermal startup backed by Khosla Ventures, has successfully secured $135 million in a new funding round. The company is pioneering advanced drilling techniques, reaching depths of three miles underground to access super-hot rock formations. This technology aims to unlock a consistent, 24/7 source of renewable energy, with the company estimating that a single well is capable of generating 15 megawatts of electricity. By tapping into these high-temperature geothermal reservoirs, Mazama Energy seeks to provide a scalable alternative to traditional fossil fuel power plants. The significant capital injection will allow the startup to accelerate its drilling operations and refine its proprietary technology. This development marks a notable milestone for the geothermal sector, as investors increasingly look toward deep-earth heat as a viable solution for the global transition to clean, baseload power.