# Mazama Energy raises $135 million Series B for superhot geothermal wells

_Published Friday, September 18, 2026 at 11:19 PM EDT · Capital, Infrastructure · Latest · Tier 2 — Notable_

Geothermal startup Mazama Energy said it raised $135 million in an oversubscribed Series B led by Centaurus Capital and Doerr Capital, with ConocoPhillips, Shell Ventures, Khosla Ventures and Gates Frontier among participants.

The company said the funding will develop horizontal wells in superhot rock capable of generating 15 megawatts of electricity per well, with plans to begin producing electricity sometime next year. Mazama said its first site in Oregon has the potential to produce 10 gigawatts. The company said it holds the record for the hottest engineered geothermal system, citing a 2025 Newberry, Oregon, system operating at 331 degrees Celsius.

## Sources

- [The American Bazaar](https://americanbazaaronline.com/2026/09/18/khosla-backed-mazama-energy-raises-135-million-488428/)

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Canonical: https://techandbusiness.org/newswire/14Kwk66ohIILsbhaZAu8VH
Published: 2026-09-19T03:19:57.381Z
Story chronology: 2026-09-18T17:31:31.000Z
Retrieved: 2026-09-19T05:03:04.729Z
Publisher: Tech & Business (techandbusiness.org)