What is Sage Geosystems' new geothermal technology?

Sage Geosystems is developing enhanced geothermal systems (EGS) that tap into hot, dry rocks by creating artificial underground reservoirs.

How much funding did Sage Geosystems receive from Ormat?

Sage Geosystems received $97 million in Series B funding, co-led by Ormat Technologies, to scale its geothermal energy technology.

When will Sage Geosystems' first commercial project be operational?

Sage's first commercial project is aiming to deliver power to the Nevada grid in 2027.

Home / Technology / Hot Rocks Power: Sage Geosystems Secures $97M for AI Energy

Hot Rocks Power: Sage Geosystems Secures $97M for AI Energy

21 Jan

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Summary

Sage Geosystems raised $97 million in Series B funding.
Their technology taps hot, dry rocks for geothermal energy.
The first commercial project aims for Nevada grid in 2027.

Hot Rocks Power: Sage Geosystems Secures $97M for AI Energy

Sage Geosystems, a startup developing enhanced geothermal systems (EGS), has successfully closed a $97 million Series B funding round. Ormat Technologies, a major geothermal developer, co-led this investment, which is poised to accelerate Sage's project timeline by an estimated 12 to 24 months. The partnership with Ormat is expected to significantly reduce the time and costs associated with bringing EGS to market.

Sage's innovative technology focuses on accessing geothermal energy by creating underground fractures in hot, dry rocks. This approach allows for the circulation of water to generate electricity, distinguishing it from conventional geothermal systems that rely on underground steam. The company's strategy aims to make geothermal energy more accessible and cost-effective.

The startup's first commercial project in Nevada is scheduled to deliver four to six megawatts of power to the local grid in 2027. Sage also has a previously announced 150-megawatt deal with Meta Platforms Inc. to power its data centers, a project that will be informed by the Nevada initiative.