Mazama
Mazama Energy is a U.S. geothermal developer building Superhot Rock Enhanced Geothermal Systems (MUSE™ platform) to deliver utility-scale, 24/7 carbon-free baseload power to data centers and utilities, with a flagship 200 MW demonstration at Newberry Volcano, Oregon.
- Company typePrivate
- Founded2023
- HeadquartersFrisco, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Mazama does
Mazama Energy is a U.S.-based geothermal developer developing Superhot Rock (SHR) Enhanced Geothermal Systems (EGS) — subsurface reservoirs above 374°C — as a source of utility-scale, 24/7 carbon-free baseload power. The company operates from Frisco, Texas (corporate headquarters) with its flagship demonstration project at Newberry Volcano in Central Oregon, where it has built and tested the first-of-its-kind SHR EGS pilot, achieving a record 331°C (629°F) bottomhole temperature in October 2025. Target end-customers are hyperscale data center operators needing reliable, carbon-free baseload power for AI infrastructure and utilities/industrial buyers seeking cost-competitive clean generation.
The company's product is the MUSE™ (Modular Unconventional Superhot Energy) platform, which integrates three proprietary technologies: Mazama Drill (directional drilling in superhot rock), Thermal Lattice™ (a patented stimulation technique that creates durable, high-capacity reservoirs, published at SPE), and Heat Harvester™ (predictive well-performance and life-cycle simulation). MUSE™ is designed to deliver 5–10x the power density of conventional geothermal systems while using 80% fewer wells and 75% less water, with a target LCOE below $50/MWh. At Newberry, the company is scaling from a 15 MW pilot toward a 200 MW development project, with a stated roadmap to reach 750°F well temperatures in 2026.
Mazama's commercial model is utility-scale power generation sold under long-term power purchase agreements (PPAs) to data centers and utilities, supplemented by U.S. Department of Energy grant funding for demonstration. The company is privately held and venture-backed, with $36M raised in an October 2025 round led by Khosla Ventures (with Breakthrough Energy Ventures and Gates Frontier) and a $20M DOE grant awarded in November 2024, giving a cumulative disclosed capital base of approximately $56M deployed against a multi-year technology and project development roadmap.
Mazama firmographics
Firmographics- Name
- Mazama
- Legal name
- Mazama Energy, Inc.
- Website
- https://mazamaenergy.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Mazama Energy is a U.S. geothermal developer building Superhot Rock Enhanced Geothermal Systems (MUSE™ platform) to deliver utility-scale, 24/7 carbon-free baseload power to data centers and utilities, with a flagship 200 MW demonstration at Newberry Volcano, Oregon.
- Ownership category
- akta.pro rank
Mazama industry classification
Industry- Product category
- Geothermal Power Generation
- NAICS
- Geothermal Electric Power Generation (221116), Electric Power Generation (22111)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Superhot Rock / Supercritical Geothermal Power Generation (EUACAHAG)
- akta.pro secondary industries
- Geothermal Power Plant Development & IPP (Permitting, Financing, Project Development) (EUAMAEAD), Geothermal Power Generation Operations & Maintenance (Plant O&M, Performance Optimization) (EUAMAEAF)
Keywords
Where Mazama is headquartered
LocationHeadquarters
- HQ city
- Frisco
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Mazama business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Operations, Personnel, Infrastructure, Supply Chain
Revenue model
- Geothermal Power Generation & Sales: Utility-scale geothermal power generation from superhot rock resources, selling electricity to data centers and utilities under long-term power purchase agreements. Target cost structure below $50 per MWh enabling competitive pricing with fossil fuels.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Mazama product offering
Product offeringCore offering
Mazama Energy develops utility-scale geothermal power from Superhot Rock (SHR) formations exceeding 374°C using its proprietary MUSE™ platform, which combines Mazama Drill (directional drilling), Thermal Lattice™ (reservoir stimulation), and Heat Harvester™ (well performance prediction). The company is currently piloting this technology at the Newberry Volcano site in Central Oregon, scaling from a 15 MW pilot to a 200 MW development project, and selling electricity to data centers and utilities under long-term power purchase agreements at a target cost below $50 per MWh.
Product overview
Mazama Energy offers a unified integrated platform called MUSE™ (Modular Unconventional Superhot Energy), which combines three proprietary component technologies—Mazama Drill (directional drilling in superhot rock), Thermal Lattice™ (reservoir stimulation), and Heat Harvester™ (well performance prediction)—to extract geothermal energy from superhot rock formations exceeding 374°C. The company's flagship Newberry Project in Oregon demonstrates this technology at a 200 MW development scale, with plans to scale from a 15 MW pilot. MUSE™ enables 5-10x more electrical power than conventional geothermal systems using 80% fewer wells and 75% less water, targeting costs below 5 cents per kWh.
Differentiator
Problem solved
Functional benefit
Brands
- MUSE (Modular Unconventional Superhot Energy): MUSE is the synthesis of Mazama Energy's SHR advancements including Mazama Drill, Thermal Lattice, and Heat Harvester proprietary technologies for superhot rock energy production.
- Mazama Drill
- Thermal Lattice
- Heat Harvester
- Mazama EMPOWER
Products and services
- MUSE™ (Modular Unconventional Superhot Energy) Integrated geothermal energy extraction platform combining Mazama Drill (directional drilling in Superhot Rock), Thermal Lattice™ (patented reservoir stimulation), and Heat Harvester™ (predictive well performance modeling) for utility-scale power generation from superhot rock formations exceeding 374°C. Designed for utility-scale baseload power sales under long-term PPAs at target costs below $50 per MWh, requiring 80% fewer wells and 75% less water than conventional EGS approaches.
- Newberry SHR EGS Demonstration Project First-of-its-kind Superhot Rock Enhanced Geothermal System pilot demonstration project located at Newberry Volcano in Central Oregon, one of the largest geothermal heat reservoirs in the United States. The demonstration achieved the world's hottest EGS bottomhole temperature of 331°C (629°F) and is being scaled from a 15 MW pilot toward a 200 MW development project to deliver utility-scale clean baseload power under long-term PPAs.
Quantifiable outcome
- 25 MW+ power generation per 400°C well
- +4 more outcomes
Companies that use Mazama
Customer profileSegments2 records
Ideal customer profiles2 records
Mazama technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Mazama partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered major and minor.
- Lawrence Berkeley National LaboratorymajorMaintains and reviews seismic monitoring data accuracy from the seismometer network at Newberry project site, providing technical oversight for operations monitoring.
- Altarock EnergyminorEnergy innovation collaborator supporting geothermal technology development.
Scale indicators6 records
Recent moves6 records
Expansion highlights3 records
Mazama competitors and assessment
Company assessmentDirect peers
- Fervo Energy: Fervo is the leading commercial-stage Enhanced Geothermal Systems developer, having delivered multi-megawatt EGS power under PPA to Google and others. It competes directly with Mazama in the U.S. EGS market targeting data center and utility customers, though it pursues conventional-temperature EGS rather than Superhot Rock.
- Eavor Technologies: Eavor develops closed-loop geothermal systems (Eavor-Loop) that operate without fracking or induced seismicity, targeting scalable deep geothermal power. It competes with Mazama for utility-scale clean baseload geothermal customers and clean energy investors.
- Quaise Energy: Quaise is developing superhot and supercritical geothermal energy using millimeter-wave drilling technology, pursuing a similar SHR thesis to Mazama. It represents the closest direct technology competitor targeting extreme-temperature geothermal resources.
Emerging players
- Deep Earth Energy Production: Deep Earth Energy Production is developing deep geothermal power in Saskatchewan, Canada, targeting similar utility-scale clean baseload applications as Mazama. It represents a regional EGS competitor pursuing adjacent North American markets.
- GreenFire Energy: GreenFire Energy is developing Advanced Geothermal Systems using closed-loop and downhole heat exchanger technology. It competes for similar utility and industrial decarbonization customers seeking scalable baseload renewable power.
- Cyrq Energy: Cyrq Energy (formerly Raser Technologies/UMC Geothermal) develops next-generation geothermal power projects in the western U.S. It competes with Mazama for renewable energy development sites and utility PPAs in similar geographies.
- Sage Geosystems: Sage develops geopressured and closed-loop geothermal systems, including applications for energy storage. It overlaps with Mazama's deep geothermal resource extraction focus and pursues similar utility-scale baseload power use cases.
Broad incumbents
- Ormat Technologies: Ormat is the largest publicly traded pure-play geothermal company with hundreds of MW of installed conventional geothermal capacity worldwide. As the established incumbent, it represents both the competitive landscape Mazama aims to disrupt and a potential acquisition or partnership partner for commercialization.
Others
- Halliburton: Halliburton is both a Mazama technology collaborator and a major oilfield services provider with growing geothermal capabilities. As an ecosystem partner and potential services provider, it is more an enabler than a competitor, but it could commercialize competing SHR drilling technology.
- AltaRock Energy: AltaRock Energy is a predecessor geothermal company with deep Newberry Volcano experience and direct founder/team ties to Mazama Energy. It provides operational context and technical lineage rather than direct current competition.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Mazama social profiles
Digital presenceMazama financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mazama leadership team
Management profileNumber of profiles
Profiles2 records
Mazama funding detail
Funding detailFunding overview
Funding rounds3 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mazama M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mazama
What does Mazama do?
Mazama Energy develops utility-scale geothermal power from Superhot Rock (SHR) formations exceeding 374°C using its proprietary MUSE™ platform, which combines Mazama Drill (directional drilling), Thermal Lattice™ (reservoir stimulation), and Heat Harvester™ (well performance prediction). The company is currently piloting this technology at the Newberry Volcano site in Central Oregon, scaling from a 15 MW pilot to a 200 MW development project, and selling electricity to data centers and utilities under long-term power purchase agreements at a target cost below $50 per MWh.
Is Mazama a public or private company?
Mazama is a private company. It is classified as venture growth investor backed and is currently operating.
When was Mazama founded?
Mazama was founded in 2023. It employs 11 to 50 people.
Where is Mazama based?
Mazama is headquartered in Frisco, United States, in the North America region.
How does Mazama make money?
One revenue line is on record: geothermal Power Generation & Sales.
Who are Mazama's main competitors?
Direct peers on record are Fervo Energy, Eavor Technologies and Quaise Energy. Emerging players are Deep Earth Energy Production, GreenFire Energy, Cyrq Energy and Sage Geosystems. Ormat Technologies is listed as a broad incumbent. Others are Halliburton and AltaRock Energy.
Does Mazama have an API?
No public API is recorded for Mazama.
What industry is Mazama in?
Mazama's product category is Geothermal Power Generation. Its primary akta.pro industry code is EUACAHAG, Superhot Rock / Supercritical Geothermal Power Generation, with a secondary code of EUAMAEAD, Geothermal Power Plant Development & IPP (Permitting, Financing, Project Development). Its NAICS code is 221116 and its SIC code is 4991.