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- Sage Geosystems
Sage Geosystems Funding, Investors & Competitors
Sage Geosystems has raised $114M across 2 funding rounds, most recently a $97M Series B in January 2026.
Last Sage Geosystems funding round
$97M
Series B · Jan 2026
Cumulative funding Sage Geosystems raised
$114M
across 2 funding rounds
Key investors in Sage Geosystems
Nabors Industries
Arch Meredith
ignis H2 Energy
Cubit Capital
Helium-3 Ventures
Carbon Direct Capital
Expand Energy
Alfa8
About Sage Geosystems
Sage Geosystems is a geothermal energy company pioneering innovations in subsurface heat extraction and power generation. Headquartered in Austin, Texas, it develops advanced well construction techniques using hydraulic fracturing to access hot rock formations, enabling scalable geothermal plants in diverse locations. The firm's GeoForge platform integrates optimized drilling, stimulation, and turbine technologies to lower costs and boost output. Partnerships with energy majors like Chevron explore utility-scale projects, positioning Sage to expand geothermal capacity nationwide.
Founded
2020
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based
Sectors
Sage Geosystems Funding History
Sage Geosystems has raised a total of $114M across 2 funding rounds.
Sage Geosystems' first fundraising round was a $17M Series A in February 2024. The most recent completed round was a $97M Series B in January 2026.
Sage Geosystems funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jan 2026 | Series B | Carbon Direct Capital (lead); Ormat (lead); Alfa8; Arch Meredith; ignis H2 Energy; UC Berkeley Foundation's Climate Solutions Fund; Abilene Partners; Cubit Capital; Nabors Industries; SiteGround Capital; Exascale Fund | $97M | Sage Geosystems is pioneering Pressure Geothermal technology, a next-generation geothermal power generation and energy storage solution that extracts heat energy from hot dry rock to provide reliable, affordable, carbon-free power. The company closed over $97 million in Series B funding co-led by Ormat Technologies and Carbon Direct Capital, with participation from investors including Abilene Partners, Alfa8, Arch Meredith, Cubit Capital, Exascale Fund, ignis H2 Energy, Nabors Industries, SiteGround Capital, and UC Berkeley Foundation's Climate Solutions Fund. The funding will support deployment of the world's first commercial Pressure Geothermal power generation facility at an existing Ormat power plant, accelerating market entry and scaling to meet demand for firm power, particularly for AI data centers. Sage Geosystems has a strategic commercial agreement with Ormat to expedite commercialization of its technology. In August 2024, the company announced a partnership with Meta to deliver up to 150 MW of new geothermal baseload power east of the Rocky Mountains in the US, supporting Meta's data center expansion. Ormat, a leader in geothermal and renewable energy with approximately 3,400 MW of gross capacity worldwide, brings expertise in power plant engineering, manufacturing, and energy storage. The round aligns with growing demand for enhanced geothermal systems (EGS), positioned to serve hyperscalers needing clean firm power for AI computing, with Sage's pressurized EGS advantaged economically and environmentally. |
| Feb 2024 | Series A | Expand Energy (lead); Arch Meredith; ignis H2 Energy; Nabors Industries; Virya; Helium-3 Ventures | $17M | Sage Geosystems, a Houston-based clean energy startup founded in 2020, develops geopressured geothermal systems (GGS) that harvest energy from pressurized water deep underground to provide long-duration energy storage, integrating with renewables like solar and wind for baseload power. The technology uses existing oilfield drilling methods to make geothermal more accessible beyond volcanic regions, offering advantages like smaller footprint, no lithium dependency, and higher efficiency. In February 2024, Sage Geosystems raised $17 million in the first close of its Series A round, led by Chesapeake Energy with participation from Arch Meredith, Helium-3 Ventures, ignis H2 Energy (Ignis Energy), Nabors Industries, and Virya. The funds will fully finance EarthStore, a 3MW commercial facility in Texas using GGS technology, with construction starting in Q2 2024 and commissioning targeted for Q4 2024. Prior pilots demonstrated 200kW for 18 hours and 1MW for 30 minutes. Sage plans to generate revenue through engineering services, IP royalties, and technology licensing, with expansion eyed in California, Arizona, and internationally. The company anticipates becoming post-revenue upon successful GGS commercialization. |
Who has invested in Sage Geosystems?
14 investors have backed Sage Geosystems across its funding rounds, including Nabors Industries, Arch Meredith, ignis H2 Energy, Cubit Capital, Helium-3 Ventures and Carbon Direct Capital.
Lead investors include Carbon Direct Capital, Ormat and Expand Energy.
Sage Geosystems Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Feb 2024 | ||
| 2 | Participant | Feb 2024 | ||
| 2 | Participant | Feb 2024 | ||
| 1 | Participant | Jan 2026 | ||
| 1 | Participant | Jan 2026 | ||
| 1 | Participant | Jan 2026 | ||
| 1 | Participant | Jan 2026 | ||
| -- | 1 | Participant | Jan 2026 | |
| 1 | Participant | Feb 2024 | ||
| 1 | Lead | Jan 2026 | ||
| 1 | Participant | Jan 2026 | ||
| 1 | Lead | Jan 2026 | ||
This data is available for Pro users. Sign up to see all 14 Sage Geosystems investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialSage Geosystems Competitors
Sage Geosystems competitors include listed companies like GE Vernova, Iberdrola, China Yangtze Power and Constellation Energy, and private ones like Adani New Industries and Helion Energy.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $38B | $3.2B | $246B | 5.4x | ||
| Publicly listed | $51B | $17B | $158B | 4.3x | ||
| Publicly listed | $13B | $11B | $104B | 11.3x | ||
| Publicly listed | $26B | $5B | $93B | 3.8x | ||
| Private | - | - | $50B | - | ||
| Private | - | - | $16B | - |
Sage Geosystems Public Comps
Sage Geosystems is still privately-owned, but its public comps include GE Vernova, Iberdrola, China Yangtze Power, Constellation Energy, Vistra, ACWA Power, Vestas, Ørsted, Gulf Development and Huaneng Lancang River.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $38B | $3.2B | 6.2x | 5.4x | 73.5x | 43.5x | |||
| $51B | $17B | 4.4x | 4.3x | 13.2x | 11.8x | |||
| $13B | $11B | 11.4x | 11.3x | 13.9x | 14.4x | |||
| $26B | $5B | 4.6x | 3.8x | 23.5x | 15.3x | |||
| $18B | $5B | 4.0x | 3.3x | 13.9x | 10.2x | |||
| $2B | $1.1B | 22.3x | 19.9x | 41.9x | 36.4x | |||
| $22B | $2.6B | 1.4x | 1.3x | 11.9x | 10.1x | |||
| $9.8B | $2.9B | 3.6x | 2.8x | 11.9x | 8.1x | |||
This data is available for Pro users. Sign up to see all Sage Geosystems competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Sage Geosystems
| When was Sage Geosystems founded? | Sage Geosystems was founded in 2020. |
| Where is Sage Geosystems headquartered? | Sage Geosystems is headquartered in Houston, TX, United States. |
| Is Sage Geosystems publicly listed? | No, Sage Geosystems is a private, VC-backed company. |
| How much funding has Sage Geosystems raised? | Sage Geosystems has raised $114M across 2 funding rounds. |
| What was Sage Geosystems' last funding round? | Sage Geosystems' last funding round was a $97M Series B in January 2026, led by Carbon Direct Capital and Ormat. |
| Who are Sage Geosystems' investors? | Sage Geosystems' investors include Arch Meredith, ignis H2 Energy, Nabors Industries, Alfa8, UC Berkeley Foundation's Climate Solutions Fund, Abilene Partners, Cubit Capital, SiteGround Capital, Virya, Ormat and 4 others. |
| Which companies are comparable to Sage Geosystems? | Companies comparable to Sage Geosystems include GE Vernova, Iberdrola, China Yangtze Power, Constellation Energy, Adani New Industries and Helion Energy. |
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