Geothermal startup lands $135M to pursue superhot rock power at Oregon site
Mazama Energy has secured $135 million in new funding to advance its geothermal development near Newberry Volcano in Oregon. The company aims to generate clean electricity from superhot rock formations, a largely unproven technique that could significantly boost the power sector's renewable capacity. The investment will accelerate testing and deployment of this emerging technology.
This funding round highlights a growing push within the renewable energy sector to move beyond conventional geothermal methods, which rely on naturally permeable rock and moderate temperatures. Superhot rock systems, by contrast, aim to tap far deeper, hotter formations where water can be circulated to produce steam and generate power around the clock. The Oregon site, near a volcanic caldera, offers the extreme subsurface conditions needed for such tests. If successful, this approach could complement intermittent solar and wind by providing steady, baseload clean electricity, though the technology remains at an early experimental stage with significant drilling and materials challenges ahead.
If this technique proves viable, it could expand renewable power into regions without traditional geothermal resources, offering a reliable, land-efficient energy source. Utilities and grid operators may gain a new tool for decarbonizing electricity, while nearby communities could see economic benefits from construction and operations. However, high upfront costs and technical risks mean widespread impact is uncertain, and any large-scale deployment would likely take years to materialize.