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    Sage Geosystems Announces $17M in Series A Funding for Geothermal System Facility in Texas

    Feb. 19, 2024
    The pilot produced 200 kW for more than 18 hours (long-duration) and 1 MW for 30 minutes (load-following), generating electricity with Pelton turbines to run equipment on location
    Sage Geosystems
    65d36cf192a82f001ecbac06 Sage Geosystems

    Sage Geosystems announced the first close of $17 million in Series A funding for its 3 MW commercial Geopressured Geothermal System (GGS) facility – EarthStore – which will be built in Texas.

    The funding is led by Chesapeake Energy Corporation, joined by technology investor Arch Meredith and Helium-3 Ventures, and supported by existing investors Virya, Nabors Industries, and Ignis Energy.

    The facility will use Sage Geosystems’ innovative technology, which harvests energy from pressurized water stored deep underground. The facility will not only be able to store energy for short and long duration periods but also be paired with intermittent renewable energy sources, including wind and solar, to provide baseload, dispatchable power, and inertia to the electric grid.

    While Sage Geosystems is in the process of manufacturing equipment, construction of the facility will start in Q2 2024 with an expected commission date of Q4 2024. The exact location of the facility will be announced soon.

    Sage Geosystems demonstrated the EarthStore system in a full-scale commercial pilot project in Texas in 2023. The pilot produced 200 kW for more than 18 hours (long-duration) and 1 MW for 30 minutes (load-following), generating electricity with Pelton turbines to run equipment on location. The system has a roundtrip efficiency (RTE) of 70-75% and water losses of less than 2%.

    About the Author

    EnergyTech Staff

    Rod Walton is senior editor for EnergyTech.com. He has spent 14 years covering the energy industry as a newspaper and trade journalist.

    Walton formerly was energy writer and business editor at the Tulsa World. Later, he spent six years covering the electricity power sector for Pennwell and Clarion Events. He joined Endeavor and EnergyTech in November 2021.

    He can be reached at [email protected]. 

    EnergyTech is focused on the mission critical and large-scale energy users and their sustainability and resiliency goals. These include the commercial and industrial sectors, as well as the military, universities, data centers and microgrids.

    Many large-scale energy users such as Fortune 500 companies, and mission-critical users such as military bases, universities, healthcare facilities, public safety and data centers, shifting their energy priorities to reach net-zero carbon goals within the coming decades. These include plans for renewable energy power purchase agreements, but also on-site resiliency projects such as microgrids, combined heat and power, rooftop solar, energy storage, digitalization and building efficiency upgrades.