Ormat Co-Leads $97M Series B for Sage Geosystems to Boost Geothermal Tech
Event summary
- Ormat Technologies co-led a $97M Series B round for Sage Geosystems, investing $25M.
- Sage's Pressure Geothermal technology will be piloted at an existing Ormat power plant.
- Ormat gains rights to develop, build, and operate geothermal projects using Sage's tech upon pilot success.
- The deal follows a prior commercial agreement between Ormat and Sage.
The big picture
Ormat's investment in Sage underscores the growing emphasis on Enhanced Geothermal Systems (EGS) as a scalable, baseload renewable energy source. The deal aligns with broader industry trends toward decarbonization and the need for innovative energy storage solutions. With $97M in Series B funding, Sage is positioned to accelerate commercial deployment, potentially reshaping the geothermal sector's growth trajectory.
What we're watching
- Technology Validation
- Whether Sage's Pressure Geothermal pilot succeeds and meets commercialization timelines.
- Market Expansion
- The pace at which Ormat integrates Sage's tech into its global geothermal portfolio.
- Competitive Positioning
- How this investment strengthens Ormat's lead in next-generation geothermal systems.
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