Cleaner Tech
Ormat Backs Next-Generation Geothermal Startup That Taps Hot Dry Rocks
The geothermal developer co-led a new funding round for Sage Geosystems, which is building its first commercial project in Nevada.
A Sage Geosystems project.
Source: Sage Geosystems
Ormat Technologies Inc., one of the world's biggest geothermal energy developers, co-led a $97 million Series B funding round for a company that’s tapping hot rocks to generate electricity.
The startup, Sage Geosystems, is one of the companies leading the push to utilize innovative technology to harness energy from the ground and meet surging power demand from artificial intelligence. Its goal is to lower costs while expanding the range of places where geothermal systems can be built.