fresh funding

Houston geothermal company raises $97M Series B

Sage Geosystems has raised a $97 million Series B. Photo via sagegeosystems.com.

Houston-based geothermal energy startup Sage Geosystems has closed its Series B fundraising round and plans to use the money to launch its first commercial next-generation geothermal power generation facility.

Ormat Technologies and Carbon Direct Capital co-led the $97 million round, according to a press release from Sage. Existing investors Exa, Nabors, alfa8, Arch Meredith, Abilene Partners, Cubit Capital and Ignis H2 Energy also participated, as well as new investors SiteGround Capital and The UC Berkeley Foundation’s Climate Solutions Fund.

The new geothermal power generation facility will be located at one of Ormat Technologies' existing power plants. The Nevada-based company has geothermal power projects in the U.S. and numerous other countries around the world. The facility will use Sage’s proprietary pressure geothermal technology, which extracts geothermal heat energy from hot dry rock, an abundant geothermal resource.

“Pressure geothermal is designed to be commercial, scalable and deployable almost anywhere,” Cindy Taff, CEO of Sage Geosystems, said in the news release. “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 reports that partnering with the Ormat facility will allow it to market and scale up its pressure geothermal technology at a faster rate.

“This investment builds on the strong foundation we’ve established through our commercial agreement and reinforces Ormat’s commitment to accelerating geothermal development,” Doron Blachar, CEO of Ormat Technologies, added in the release. “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.”

In 2024, Sage agreed to deliver up to 150 megawatts of new geothermal baseload power to Meta, the parent company of Facebook. At the time, the companies reported that the project's first phase would aim to be operating in 2027.

The company also raised a $17 million Series A, led by Chesapeake Energy Corp., in 2024.

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A View From HETI

Babur Ozden is the founder and CEO of Aquanta Vision. Photo via LinkedIn

Houston-based climatech startup Aquanta Vision achieved key milestones in 2025 for its enhanced methane-detection app and has its focus set on future funding.

Among the achievements was the completion of the National Science Foundation’s Advanced Sensing and Computation for Environmental Decision-making (ASCEND) Engine. The program, based in Colorado and Wyoming, awarded a total of $3 million in grants to support the commercialization of projects that tackle critical resilience challenges, such as water security, wildfire prediction and response, and methane emissions.

Aquanta Vision’s funding went toward commercializing its NETxTEN app, which automates leak detection to improve accuracy, speed and safety. The company estimates that methane leaks cost the U.S. energy industry billions of dollars each year, with 60 percent of leaks going undetected. Additionally, methane leaks account for around 10 percent of natural gas's contribution to climate change, according to MIT’s climate portal.

Throughout the months-long ASCEND program, Aquanta Vision moved from the final stages of testing into full commercial deployment of NETxTEN. The app can instantly identify leaks via its physics-based algorithms and raw video output of optical gas imaging cameras. It does not require companies to purchase new hardware, requires no human intervention and is universally compatible with all optical gas imaging (OGI) cameras. During over 12,000 test runs, 100 percent of leaks were detected by NETxTEN’s system, according to the company.

The app is geared toward end-users in the oil and gas industry who use OGI cameras to perform regular leak detection inspections and emissions monitoring. Aquanta Vision is in the process of acquiring new clients for the app and plans to scale commercialization between now and 2028, Babur Ozden, the company’s founder and CEO, tells Energy Capital.

“In the next 16 months, (our goal is to) gain a number of key customers as major accounts and OEM partners as distribution channels, establish benefits and stickiness of our product and generate growing, recurring revenues for ourselves and our partners,” he says.

The company also received an investment for an undisclosed amount from Marathon Petroleum Corp. late last year. The funding complemented follow-on investments from Ecosphere Ventures and Odyssey Energy Advisors.

Ozden says the funds will go toward the extension of its runway through the end of 2026. It will also help Aquanta Vision grow its team.

Ozden and Marcus Martinez, a product systems engineer, founded Aquanta Vision in 2023 and have been running it as a two-person operation. The company brought on four interns last year, but is looking to add more staff.

Ozden says the company also plans to raise a seed round in 2027 “to catapult us to a rapid growth phase in 2028-29.”

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