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Mazama Energy

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Utility-scale geothermal power from superhot rock enhanced geothermal systems

Frisco, United StatesFounded 2023Energy

Valuation $500M–1B Last recorded · 2026

Headcount <100 Current team size

Total funding $100–500M Disclosed equity funding

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About Mazama Energy

Mazama Energy is a Frisco, Texas geothermal developer advancing superhot-rock enhanced geothermal systems (EGS) for always-on, carbon-free baseload power. Incubated by Khosla Ventures and building on AltaRock Energy and Blade Energy Partners capabilities, Mazama’s MUSE platform combines drilling, Thermal Lattice reservoir stimulation and Heat Harvester modeling; at Newberry, Oregon it demonstrated the world’s hottest engineered geothermal reservoir at 629°F (331°C) and plans Athena/Ceres wells toward a 15 MW pilot and a 200 MW commercial project by about 2030. In September 2026 Mazama raised an oversubscribed $135 million Series B led by Centaurus Capital and Doerr Capital, with ConocoPhillips, Shell Ventures, returning Khosla Ventures and Gates Frontier, plus SiteGround Capital, H. Barton Asset Management and the Jeffrey and Marieke Rothschild Foundation, to drill deeper horizontal wells and scale superhot-rock development. Sources: TechCrunch 17 Sep 2026; GlobeNewswire.

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At a glance

Status: Operational
Founded: 2023
Headquarters: Frisco, United States
Employees: 24
Open positions: 6
Dealroom signal: 56.4/100
Industry: Energy
Sub-industry: Clean Energy
Sector: Energy, Geothermal Energy, Sustainable Development Goals, Climate Tech, Industrial Electrification, NIF defense security and resilience, NIF Energy Security and Climate Change, DT and LS, science-based
Technology: Hardware, Deep Tech
Business model: Manufacturing
Client focus: b2b
Links: Website LinkedIn

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Funding history

1 recorded event

Company financing events and reported valuations.

Deal type	Date	Amount	Valuation	Investors	Source
SERIES A✓Equity / VC	Oct 2025	$36M	$144M	Khosla Ventures	↗

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Growth signals

Mazama Energy website traffic

Latest recorded traffic for Mazama Energy is 4.5K monthly website visits, up 73.1% over the last three months. Mazama Energy's team grew 100% over the past year.

Latest monthly visits4.5K 3-month web change+73.1% 1-year team growth+100%

Monthly website visitsOct 2025–Jul 2026

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Open positions

Openings linked to this company in Dealroom

Well EngineerBend, OR · Other · Sep 5, 2026 Financial AnalystFrisco, TX · Finance · Aug 27, 2026 Safety ManagerBend, OR · Other · Aug 23, 2026 Landman - Federal OR State Lease Sale BiddingHouston, TX · Sales · Aug 7, 2026 Geothermal Lab TechnicianHouston, TX · Other · Aug 6, 2026 LandmanHouston, TX · Other · Jul 16, 2026 AP ClerkFrisco, TX · Accounting · Jul 10, 2026 Geothermal GeochemistHouston, TX · Other · Jul 10, 2026

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Closest operating peers by Dealroom taxonomy

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Company	Headquarters	Status	Employees	Total funding	Valuation
TETelura EnergyHigh voltage impulse technology for cost-effective ultra-deep drilling to unlock geothermal energy in diverse geologies	Karlsruhe, Germany	Operational	17	$4.4M	$18M
HTHephae Energy TechnologyHephae Energy Technology, founded in 2020, aims to advance geothermal energy with innovative drilling tech for safer, global development	Houston, United States	Operational
DEDig EnergyDig Energy is unlocking the potential of distributed geothermal energy for billions of people around the world	Cambridge, United States	Operational
XEXGS EnergyDeveloping heat harvesting technology and closed-loop well architecture enable global deployment of terawatt-scale geothermal heat and power	Palo Alto, United States	Operational
JIJimmyDesigns and operates atomic thermal generators to massively decarbonize industry	Paris, France	Operational
JEJTEC EnergyConverts a heat difference into useable power through electrochemical reactions	Atlanta, United States	Operational
QUQuaiseUnlocking supercritical geothermal energy everywhere	Cambridge, United States	Operational
FEFervo EnergyCommercializes proprietary technology to own, develop, and operate geothermal assets as the dispatchable foundation to a 100% clean energy future	Houston, United States	Operational