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Khosla-backed Mazama Energy just raised $135M to drill deeper into super-hot-rock geothermal

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Geothermal startup Mazama Energy raised $135 million in an oversubscribed Series B, the startup said Thursday.

The fresh funding will help the company develop horizontal wells in super-hot rocks capable of generating 15 megawatts of electricity per well.

Mazama plans to start generating electricity sometime next year and said its first site in Oregon is capable of producing 10 gigawatts of electricity. That’s a sharp upward revision from the company’s estimate last year, when investor Vinod Khosla said the site had the potential to produce 5 gigawatts.

Enhanced geothermal startups are shaping up to be the dark horse in the battle to power AI data centers and other large loads on the grid. While tech companies and data center developers have been throwing their weight behind natural gas, geothermal startups have been quickly advancing their technology.

Unlike previous geothermal projects, enhanced geothermal startups are targeting deeper and hotter rock. Mazama, for example, has drilled past 10,000 feet in 15 days on its way to about 15,000 feet deep. At those depths, the company can access 750˚ F (400˚ C) heat, which at high pressures turns water into a “supercritical” fluid that’s neither fully liquid nor fully gas — a state that lets it absorb far more energy than ordinary steam. Mazama said that will allow each well to produce up to 10 times more power than traditional geothermal technologies.

Given the depths Mazama is targeting, the potential payoff is significant. Tapping just 1% of super-hot rock worldwide could generate more than 63 terawatts of electricity, according to the University of Twente and the Clean Air Task Force.

While work at its Oregon site is still in the early stages, the startup has already secured land for a second development. Mazama aims to complete development of the first site by 2030, at which point it says it should generate 200 megawatts of electricity.

The new round was led by Centaurus Capital and Doerr Capital, with participation from ConocoPhillips and Shell Ventures. Existing investors including Khosla Ventures and Gates Frontier returned, and new investors SiteGround Capital, H. Barton Asset Management, and the Jeffrey and Marieke Rothschild Foundation also joined the round.

Mazama was incubated at Khosla Ventures.

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2027: Abdulsalami panel warns Tinubu, Atiku, Obi, others against inflammatory campaigns

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The National Peace Committee, spearheaded by former Head of State, General Abdulsalami Abubakar (rtd.), has warned President Bola Tinubu, former Vice-President Atiku Abubakar, Peter Obi and other political actors against inflammatory and inciting campaigns ahead of the 2027 general elections.

The committee issued the warning in a statement jointly signed by Abubakar and Bishop Matthew Hassan Kukah on Monday.

It also raised the alarm over 60 election-related incidents recorded across the country within one month, including political violence, intimidation, threats, attacks on political activities and misinformation.

The statement partly read:

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“To political parties, candidates, and supporters: Immediately stop false, inflammatory or inciting communication. Uphold the commitments of the Accord, verify information before publication, and actively prevent supporters from engaging in unlawful conduct, intimidation, or disruption.

“As the 2027 electoral cycle progresses, the message of the NPC remains clear and unwavering. Every candidate must be able to campaign peacefully; every political party must be able to organise lawfully; and every citizen must be able to make a political choice without intimidation or coercion.

“To INEC, strengthen monitoring of political campaigns and ensure compliance with the Electoral Act 2026 and applicable regulations governing political parties and campaign conduct.

“Where breaches are identified, the commission should take appropriate regulatory action within its mandate and promptly refer suspected criminal violations to the relevant law-enforcement agencies.”

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‘I’ve no regrets supporting Peter Obi’ – Datti Baba-Ahmed

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Former Labour Party vice-presidential candidate, Datti Baba-Ahmed, has said he has no regrets about being Peter Obi’s running mate in the 2023 presidential election, insisting that the decision was based on the need to promote unity, forgiveness and trust in Nigeria.

Baba-Ahmed spoke on Monday while delivering a keynote address at the second edition of the Bala AbdulKadir Mohammed Colloquium, held at the Ahmadu Bello International Conference Centre, Bauchi, to commemorate the 68th birthday of Bauchi State Governor, Bala Mohammed.

Reflecting on the 2023 election, Baba-Ahmed said his decision to support Obi was driven by his conviction that fundamental questions about Nigeria’s leadership and democratic future needed to be addressed.

He said, “Up till today, I have no regrets supporting Peter Obi. Fundamental questions were answered. He is a Nigerian, he is in the constitutional line to sit. That is the doctrine. In the same way that Nora stood for the doctrine of necessity because people’s rights were threatened, society’s fate was questioned. I stood for Nigeria in 2023 to need to show forgiveness, and unity, and trust in each other.”

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The former vice-presidential candidate said Nigerians must also develop the courage to oppose oppression and injustice, stressing that leaders should not merely be celebrated but encouraged to use their positions to protect the people.

He said, “There is a duty in appreciating leaders. Why you appreciate leaders is not to massage their ego. What is even more important is to educate others to appreciate, understand, see, and imbibe those single qualities. Nigeria is in need of leaders.”

Baba-Ahmed also spoke about the state of Nigeria’s democracy, saying the separation of powers between the executive and legislative arms of government had been weakened, leaving the National Assembly struggling to effectively perform its constitutional role.

He said Nigerians must begin to stand up for themselves and demand a system that genuinely serves the people, rather than one controlled by a few powerful individuals.

“Why can’t the Nigerian people unite? Why can’t the Nigerian people work together? Why can’t the Nigerian people not stand for themselves, stand for themselves, fight for themselves?” he asked.

He further called for an end to what he described as the growing culture of oppression, saying both leaders and citizens had a responsibility to confront injustice.

Baba-Ahmed said, “The point is that we detest oppression. We detest cheating. We hate bullying. We need leaders that will stop it. Because now, oppression is getting into the DNA of Nigeria. Accepting oppression is getting into the DNA of Nigerian people.”

He also urged Nigerians to support leaders who are willing to speak against injustice, saying the country would benefit from public officials who could defend the rights of citizens even when doing so could put their positions at risk.

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