Ormat co-leads Sage Geosystems' $97M Series B funding round; companies to partner on Project Vector EGS facility

Sage Geosystems/Project Vector (Ormat Blue Mountain)

Ormat Technologies and Carbon Direct Capital co-led Sage's $97M Series B round. The companies signed a strategic partnership to develop an EGS facility at Ormat's Blue Mountain geothermal plant in Nevada. The facility will support Meta's 150 MW geothermal power agreement with Sage.

• Series B raised over $97M with Ormat and Carbon Direct Capital as co-leads
• Ormat invested $25M as part of the round
• Sage and Ormat partnering on Project Vector at Blue Mountain in Winnemucca, Nevada
• Project supports Meta's agreement for up to 150 MW of geothermal baseload power