Open Mountain Energy, Llc

What Open Mountain Energy, Llc does

Open Mountain Energy, LLC (OME) is a privately held utility-scale geothermal power developer and operator founded in 2016 and headquartered in Reno, Nevada. The company acquires, develops, owns, and operates geothermal power plants, primarily in Nevada and California, with the stated mission of converting the earth's natural resources into clean, high-capacity renewable energy. OME's current portfolio includes two operating assets — Whitegrass No. 1 (4 MW binary plant near Yerington, Nevada, in commercial operation since early 2018 with 99%+ availability) and Star Peak (14 MW nameplate / 12.5 MW contracted steam and binary plant in Imlay, Nevada, in commercial operation since September 2022) — plus development-stage projects at Whitegrass No. 2, Fish Lake, Humboldt House, and Mayacma in California. The company is a subsidiary of Kaishan Group, one of the world's largest industrial air compressor manufacturers, which provides vertically integrated manufacturing of power generation equipment with 85% vertical integration in its processes and planned US manufacturing by 2026.

OME's core technology centers on Organic Rankine Cycle (ORC) power generation systems using a patented screw expander claimed to improve isentropic efficiency versus conventional turbines, combined at Star Peak with conventional steam turbine equipment. Resource exploration is supported by a data-driven geoscience workflow that integrates geological, geophysical, geochemical, and dynamic reservoir performance data into 3D conceptual models. In 2022 the company acquired its own drill rig, establishing an in-house drilling capability with combined team experience of more than 300 wells. As of disclosure, the portfolio has 23,477 leased acres, 4,203 acres of fee land, 34 full-sized wells (64 total including monitor/exploration), 95.8 MW of contracted interconnection capacity, 50 MW of contracted transmission capacity, and 64 MW of pending/queued transmission capacity.

OME generates revenue through long-term Power Purchase Agreements (PPAs) — recurring contracts typically spanning 20+ years — selling electricity to utilities and Community Choice Aggregators (CCAs) in the Western United States. Disclosed off-takers include SCPPA (for Whitegrass No. 1 and Star Peak), Marin Clean Energy (Mayacma), Peninsula Clean Energy, CC Power, and LMUD (near-term development projects). Disclosed total PPA contract value is $767,692,106, with news articles referencing 'nearly $1 billion in Contracted Revenue' from PPAs executed in 2022. Customers are California CCAs and public power authorities seeking 24/7 baseload renewable generation to meet state mid-term reliability and high-capacity renewable energy goals — a value proposition that targets the intermittency gap left by wind and solar. The company is privately held and does not disclose audited revenue; the only known capital raise disclosed is a $21M tax equity transaction with Monarch Private Capital in May 2022 for the Star Peak project.

Name

Open Mountain Energy, Llc

Legal name

Open Mountain Energy LLC

Website

https://openmountainenergy.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Open Mountain Energy is a privately held, Reno-based utility-scale geothermal power developer and operator, subsidiary of Kaishan Group, that develops ORC-based geothermal plants under long-term PPAs with California CCAs and utilities such as SCPPA, Marin Clean Energy, and Peninsula Clean Energy.

Ownership category

akta.pro rank

Headquarters

HQ city

Reno

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D

Revenue model

1. Power Purchase Agreements (Electricity Sales): Long-term Power Purchase Agreements (PPAs) for electricity generated from geothermal power plants. Revenue generated from contracted power sales to utilities and CCAs. Projects include Whitegrass No. 1 (4 MW, PPA with SCPPA), Star Peak (12.5 MW steam and binary, PPA with SCPPA), and Mayacma (11 MW planned, PPA with Marin Clean Energy).

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Open Mountain Energy acquires, develops, owns, and operates utility-scale geothermal power plants, converting the earth's natural resources into 24/7 baseload renewable electricity. The company sells generated power under long-term Power Purchase Agreements (PPAs) to utilities and Community Choice Aggregators (CCAs) such as SCPPA, Marin Clean Energy, Peninsula Clean Energy, CC Power, and LMUD, with a contracted portfolio totaling 57.5 MW of PPA guaranteed capacity and nearly $1 billion in contracted revenue. Operating assets include the 4 MW Whitegrass No. 1 plant and the 14 MW nameplate (12.5 MW contracted) Star Peak plant, with a development pipeline spanning Whitegrass No. 2, Fish Lake, Humboldt House, and Mayacma.

Product overview

Open Mountain Energy (OME) is a geothermal power development company that acquires, develops, owns and operates utility-scale geothermal power plants. OME operates as a vertically integrated organization offering end-to-end geothermal development including resource exploration, drilling and wellfield development, construction and engineering, and long-term power generation operations. The company utilizes proprietary ORC (Organic Rankine Cycle) Power Generator Systems with patented screw expander technology. The portfolio includes operating assets (Whitegrass No. 1 at 4 MW, Star Peak at 14 MW nameplate/12.5 MW contracted) and development projects (Whitegrass No. 2, Fish Lake Geothermal, Humboldt House Geothermal, Mayacma Geothermal). OME is a subsidiary of Kaishan Group, providing vertically integrated manufacturing for power generation equipment. Power purchase agreements have been executed with utilities including SCPPA, Marin Clean Energy, Peninsula Clean Energy, CC Power, and LMUD.

Differentiator

Problem solved

Functional benefit

Products and services

• Whitegrass No. 1 Geothermal Power Plant Operating 4 MW binary geothermal power plant near Yerington, Nevada that generates baseload renewable electricity sold under a long-term PPA to SCPPA. The plant comprises four ORC units (two top-cycle and two bottom-cycle) with four water-cooled condensers and has demonstrated availability exceeding 99% since commercial operation. Customers are Western US utilities and CCAs seeking dispatchable clean power.
• Star Peak Geothermal Power Plant Operating 14 MW nameplate (12.5 MW contracted) geothermal power plant in Imlay, Nevada utilizing combined steam and binary resources with a single steam unit and four ORC units. Generates baseload renewable electricity sold under a long-term PPA to SCPPA and is connected via an OME-owned transmission line to Thunder Mountain Substation. Customers are utilities and CCAs seeking dispatchable clean energy.
• Whitegrass No. 2 Geothermal Development Project Development-stage geothermal project adjacent to Whitegrass No. 1 in Nevada with completed resource exploration activities and a long-term PPA executed in 2022. Currently advancing through permitting and regulatory approval for further resource development. Intended output is utility-scale baseload renewable electricity sold to utilities and CCAs.
• Fish Lake Geothermal Project Development-stage geothermal project in Dyer, Nevada acquired in 2020 with federal geothermal leases, existing wells, and three additional full-size wells drilled by OME confirming up to 20 MW of resource potential. Covered by a long-term PPA executed in 2022. Construction is planned after final permit approvals. Target customers are utilities and CCAs.
• Humboldt House Geothermal Project Development-stage geothermal project adjacent to Star Peak in Pershing County, Nevada, currently in the permitting process with plans for further exploration drilling. Covered by a long-term PPA executed in 2022 and selected in 2026 for an Enhanced Geothermal Systems (EGS) feasibility project with Power Planet. Target customers are utilities and CCAs seeking dispatchable clean power.
• Mayacma Geothermal Project Development-stage geothermal project near Cobb, California in the Geysers Known Geothermal Resource Area, acquired through Mayacma Geothermal LLC in September 2022. Plans include constructing a new 11 MW power plant with an air-cooled condenser, with power to be sold under a long-term PPA to Marin Clean Energy. Target customers are California CCAs and utilities.

Quantifiable outcome

• 99%+ availability since commercial operation
• +3 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Power PlanetcoreStrategic or Co-development Partner · 1 January 2026Agreement executed with Power Planet in 2026 to develop an EGS (Enhanced Geothermal Systems) feasibility project at Humboldt House Geothermal, laying the foundation for substantial EGS development in the coming years.

Scale indicators15 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Calpine Corporation: Calpine is one of the largest US independent power producers with a fleet that includes geothermal assets in Northern California's Geysers field. It competes with OME for utility-scale renewable PPA awards in California but operates across a much broader portfolio including natural gas and solar.
• Berkshire Hathaway Energy: BHE owns NV Energy and PacifiCorp, both of which purchase renewable generation under long-term PPAs in OME's core market, and has historically invested in geothermal generation. As both a potential offtaker and competitor for renewable projects, it is a structurally important counterparty for OME.
• Enel Green Power: Enel Green Power operates geothermal plants globally and has North American renewable operations. It is a much larger diversified renewable energy player that competes for utility-scale clean energy contracts in California and the Western US.
• EDP Renewables North America: EDP Renewables (subsidiary of Energias de Portugal) is a major North American wind and solar developer that increasingly competes for clean energy PPAs with Western US utilities and CCAs. It represents the broader incumbent competition OME faces in winning utility-scale renewable contracts.

Direct peers

• Ormat Technologies: Ormat Technologies is the largest pure-play geothermal IPP globally, with ~1.5 GW of operating and planned capacity. It sells electricity under long-term PPAs to investor-owned utilities and CCAs in the Western US, making it the closest direct competitor and benchmark for OME's utility-scale geothermal business model and PPA structure.
• Innergex Renewable Energy: Innergex is a Canadian renewable energy IPP with geothermal assets in British Columbia and a US presence. It shares OME's model of operating baseload geothermal under long-term PPAs and is a comparable independent power producer focused on renewable baseload generation.
• Cyrq Energy: Cyrq Energy (formerly Raser Technologies) is a US-based geothermal independent power producer operating multiple utility-scale facilities in the Western US. It shares OME's model of acquiring, developing, and operating geothermal assets under long-term PPAs with regional utilities.
• Controlled Thermal Resources: CTR is a California-based geothermal and lithium developer advancing utility-scale projects in the Imperial Valley. Like OME, it is a privately-held geothermal developer pursuing long-term PPAs and baseload renewable energy contracts in the Western US.

Emerging players

• Fervo Energy: Fervo Energy is an emerging Enhanced Geothermal Systems (EGS) developer with utility-scale pilot projects in Nevada and California. It overlaps with OME's core Western US geothermal market and is exploring the same EGS frontier that OME's Power Planet partnership targets.
• Eavor Technologies: Eavor Technologies is a Canadian closed-loop geothermal technology company pursuing commercial-scale EGS deployment. Its drilling and reservoir-engineering approach is comparable to the subsurface capabilities OME deploys in conventional geothermal development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/open-mountain-energy

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Open Mountain Energy, Llc