Sage Geosystems Secures $97 Million for First Commercial Pressure Geothermal Facility
Sage Geosystems has secured over $97 million in Series B funding to develop its first commercial Pressure Geothermal power generation facility at an existing Ormat power plant. This facility will leverage proprietary technology to extract geothermal heat from hot dry rock, providing carbon-free power, and is part of a partnership with Ormat to enhance energy independence. Additionally, Sage has partnered with Meta to supply up to 150 MW of geothermal baseload power for its data centers.
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Sage Geosystems raised over $97 million in Series B funding, co-led by Ormat Technologies and Carbon Direct Capital, to deploy its first commercial Pressure Geothermal power generation facility at an existing Ormat power plant. The facility will utilize proprietary technology to extract geothermal heat from hot dry rock, providing carbon-free power.
Sage's partnership with Ormat aims to accelerate commercialization and meet increasing demand for firm power and energy independence. The funding round included new investors SiteGround Capital and UC Berkeley Foundation's Climate Solutions Fund, alongside existing backers. Sage also announced a partnership with Meta to deliver up to 150 MW of geothermal baseload power to support its data center operations.
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