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News
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LCG, January 21, 2026--Sage Geosystems, the company pioneering Pressure Geothermal, today announced that it closed over $97 million in Series B funding to advance its geothermal power generation and energy storage solutions, including its first commercial next-generation geothermal power generation facility. Ormat Technologies, a vertically integrated company engaged in geothermal and recovered energy generation ("REG"), and Carbon Direct Capital, a growth equity investment firm, co-led Sage’s Series B round, representing the full backing of Sage and Pressure Geothermal technology from leaders in geothermal energy and growth capital.
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LCG, January 15, 2026--Origis Energy today announced that Meta and the company signed a long-term power purchase agreement (PPA) for the 240-MW (303-MWdc) Greyhound A Solar project in West Odessa, Texas. The Greyhound A Solar project is scheduled to achieve commercial operations by mid-2026.
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Industry News
Sage Geosystems Announces Funding for Next-generation Geothermal Power Generation Project
LCG, January 21, 2026--Sage Geosystems, the company pioneering Pressure Geothermal, today announced that it closed over $97 million in Series B funding to advance its geothermal power generation and energy storage solutions, including its first commercial next-generation geothermal power generation facility. Ormat Technologies, a vertically integrated company engaged in geothermal and recovered energy generation ("REG"), and Carbon Direct Capital, a growth equity investment firm, co-led Sage’s Series B round, representing the full backing of Sage and Pressure Geothermal technology from leaders in geothermal energy and growth capital.
The CEO of Sage Geosystems stated, "Pressure Geothermal is designed to be commercial, scalable, and deployable almost anywhere. 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."
Sage will deploy its first commercial Pressure Geothermal power generation facility at an existing Ormat power plant. The facility will use Sage’s proprietary technology to extract geothermal heat energy from hot dry rock to generate carbon-free power, long-duration energy storage, and district heating. Sage states that it will utilize its strategic commercial agreement with Ormat to accelerate the project, as well as to bring Pressure Geothermal to market and scale up to meet rising demand for firm, carbon-free power and energy independence. In particular, Sage anticipates its clean, firm power and long-duration energy storage solutions will support the continued build-out of AI data centers.
The CEO of Ormat Technologies said, "This investment builds on the strong foundation we’ve established through our commercial agreement and reinforces Ormat’s commitment to accelerating geothermal development. Sage’s technical expertise and innovative approach are well aligned with Ormat’s strategy to move faster from concept to commercialization. We’re pleased to take this natural next step in a partnership we believe strongly in.”
Pressure Geothermal states that it creates a fully engineered underground reservoir of hot water that expands and contracts with the earth’s natural elasticity. By tapping into hot, dry rock formations found worldwide, Pressure Geothermal estimates it can unlock over 130 times more geothermal resource potential in the U.S. alone.
"Enhanced Geothermal Systems ("EGS") are extremely well-positioned to deliver for hyperscalers, who want clean firm power for their AI computing needs," said the CEO at Carbon Direct Capital. "Sage's pressurized EGS technology is advantaged on both economic and environmental evaluation criteria."
Sage previously announced in August 2024 its partnership with Meta to deliver up to 150 MW of new geothermal baseload power at a location east of the Rocky Mountains to support Meta’s data center growth.
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