Mazama raises $135M for AI power

Mazama Energy raised $135 million in an oversubscribed Series B to push superhot geothermal toward firm power for AI-scale loads. The company’s funding announcement says Project Ceres targets 15 MWe per well and more than 10 GWe of resource potential at Newberry, while TechCrunch’s account places the bet in the AI data-center power race; both are development targets, not delivered capacity. For AI builders, this is a power-supply option to watch, not a capacity contract: the 8 IT-GW OpenAI lease in Ohio shows why firm commitments still matter before geothermal targets become bankable.