Sage Geosystems closes $97 million Series B funding round to support Pressure Geothermal deployment
With over 200 years of combined energy and drilling expertise, Sage’s team is working with major partners like Ormat and ABB and hyperscalers like Meta to rapidly scale its Pressure Geothermal technology and bring geothermal energy to market. Sage Geosystems’ field unit features the company’s signature logo. (source: Sage Geosystems)
Carlo Cariaga
21 Jan 2026
Sage Geosystems has closed a $97 million Series B funding round, led by Ormat and Carbon Direct Capital, to advance the deployment of Pressure Geothermal.
Sage Geosystems (Sage) has announced the closing of a $97 million Series B funding round that will help advance the company’s geothermal power generation and energy storage solutions. Ormat Technologies, Inc. (Ormat) co-led the funding round with a $25 million equity investment, along with Carbon Direct Capital. This investment represents strong industry backing of Sage and their Pressure Geothermal technology, notably from leaders in the geothermal sector.
It also builds on a strategic agreement previously signed between Sage and Ormat, enabling Sage to pilot its advanced Pressure Geothermal technology to extract geothermal heat energy from hot dry rock at an existing Ormat power plant. This will accelerate the time needed to bring Pressure Geothermal to market and scale up to meet rising demand for firm power and energy independence. Upon successful completion of the pilot, Ormat will have the right to develop, build, own and operate geothermal power plants and energy storage projects utilizing Sage’s technology.
“Pressure Geothermal is designed to be commercial, scalable, and deployable almost anywhere,” said Cindy Taff, CEO of Sage Geosystems. “This Series B allows us to prove that at commercial scale, reflecting strong conviction from partners who understand both the urgency of energy demand and the criticality of firm power.”
“Our investment in Sage is a natural extension of our strategic collaboration and underscores our confidence in Sage’s Pressure Geothermal technology. As a long-established leader in the geothermal industry, this investment aligns with Ormat’s strategy to advance geothermal innovation, accelerate time to market and expand geothermal energy deployment within the global energy landscape,” added Doron Blachar, Chief Executive Officer of Ormat Technologies.
In addition to the co-lead investors, new investors including SiteGround Capital and The UC Berkeley Foundation’s Climate Solutions Fund, and existing investors including Exa, Nabors, alfa8, Arch Meredith, Abilene Partners, Cubit Capital, and Ignis H2 Energy participated in the round. Barclays acted as the exclusive placement agent for Sage on the capital raise.
“Enhanced Geothermal Systems (“EGS”) are extremely well-positioned to deliver for hyperscalers, who want clean firm power for their AI computing needs,” said Jonathan Goldberg, CEO at Carbon Direct Capital. “Sage’s pressurized EGS technology is advantaged on both economic and environmental evaluation criteria.”
Sage’s next-generation Pressure Geothermal technology transforms the Earth’s natural heat and pressure into a reliable, secure, and commercial-scale energy source for power generation, long-duration energy storage, and district heating. The system operates using a two-well design that acts like an underground lung that expands and contracts with the Earth’s natural elasticity to cycle hot water to the surface.
Unlike traditional geothermal systems that rely on natural hydrothermal resources near the surface, Sage’s technology targets low-permeability, hot, dry rock formations at depths between 2.5 and 6 kilometers. These conditions are found across much of the world’s subsurface, making the technology deployable in a far wider range of geologies.
Source: Ormat and Sage Geosystems via Businesswire
