# Mazama Energy

> Superhot-rock enhanced geothermal at Oregon’s Newberry Volcano — $135M of new capital in September 2026 including an oversubscribed Series B.

## Why it is interesting

Company-disclosed $135 million of new capital on September 17, 2026 includes an oversubscribed Series B led by Centaurus Capital and Doerr Capital. Canary Media says the bag includes Series B; Axios reports Series B funding and grants. Valuation was not disclosed. The technical tell is Newberry: 331°C EGS in 2025, a second well that hit 10,350 feet 80% faster, and a DOE-backed Project Ceres aiming at 15 MW per horizontal well.

## Profile

- **Latest funding:** Series B (plus other new capital) — $135M new capital (September 2026)
- **Latest known valuation:** Not publicly disclosed
- **Total disclosed equity funding:** $135M
- **Stage:** series-b
- **Status:** private
- **Industries:** N/A
- **Coverage:** full
- **Last updated:** 2026-09-18
- **Latest funding investors:** Centaurus Capital, Doerr Capital, Khosla Ventures, Gates Frontier, ConocoPhillips, Shell Ventures, SiteGround Capital, H. Barton Asset Management, Jeffrey and Marieke Rothschild Foundation

## Key facts

- Sep 17, 2026: $135M new capital including oversubscribed Series B (company / GlobeNewswire). Axios: Series B funding and grants. TechCrunch: Series B. No valuation.
- Leads: Centaurus Capital (John Arnold) and Doerr Capital. Returning: Khosla Ventures, Gates Frontier. Strategics: ConocoPhillips, Shell Ventures.
- 2025 Newberry EGS at 629°F / 331°C; second well reached 10,350 ft ~80% faster (company / Canary).
- Project Ceres: DOE-supported; 15 MW/well target; power-generation demo planned 2027. Company: >10 GWe Newberry resource; 200 MW first site by 2030.

## Funding history

- Series B (plus other new capital) · $135M new capital · September 2026
  Source: Https://www.globenewswire.com/news-release/2026/09/17/3364060/0/en/mazama-energy-raises-135-million-to-scale-the-world-s-hottest-engineered-geothermal-system.html

## Related articles

- https://venturecapitaltracker.com/2026-mazama-energy-135m-series-b-superhot-geothermal
- https://venturecapitaltracker.com/2026-september-16-18-investment-news-mazama-ridgeline-matter
- https://venturecapitaltracker.com/2026-september-vc-news

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)
**Last updated:** September 18, 2026

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.

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Source: https://venturecapitaltracker.com/startup/mazama-energy