Sage Geosystems and Meta Announce Agreement for Next-Generation Geothermal Power Generation

Partnership between Sage and Meta Boosts Momentum for Geothermal as First Deal East of the Rocky Mountains, Showcases how Sustainable Energy Sources Can Meet Growing Electricity Demand

Today, at the U.S. Department Energy’s (DOE) Catalyzing Next Generation Geothermal Development Workshop, Sage Geosystems (Sage) and Meta Platforms, Inc (Meta) announced a new agreement that would significantly expand the use of geothermal power in the U.S. and would be the first use of next generation geothermal power east of the Rocky Mountains. This announcement demonstrates the critical role clean, firm, and resilient power plays in meeting the electricity demand spurred by the growth and innovation led by the technology sector.

Executives from Sage and Meta joined U.S. Deputy Secretary of Energy David Turk and additional Biden-Harris Administration officials along with, investors, utilities, and other energy stakeholders to discuss the opportunity and growth of geothermal as a growing carbon-free energy source in the U.S. This partnership will deliver up to 150 MW of new geothermal baseload power to support Meta’s data center growth.

The Sage and Meta partnership builds on the momentum that geothermal energy is a viable renewable energy source across the U.S and Sage will utilize its proprietary Geopressured Geothermal System (GGS) to provide carbon-free power to Meta’s data centers. This technology, validated in the field in early 2022, marks a significant advancement for the clean energy sector, showcasing the ability to harness geothermal energy virtually anywhere and promising a new era of reliable, sustainable baseload power and enhanced grid stability. Hot dry rock is a vastly abundant resource compared to traditional hydrothermal formations, making Sage’s GGS technology a highly scalable approach with the potential for rapid expansion across the U.S. and globally.

Urvi Parekh, Head of Renewable Energy at Meta, said, “Meta thanks the Department of Energy’s leadership on promoting and supporting the exploration of new energy sources like geothermal. That leadership supports Meta’s goal to enable the addition of reliable, affordable, and carbon-free power to the grid with this geothermal energy deal. We are excited to partner with such an innovative company like Sage Geosystems that is a proven leader in geothermal development on this project and beyond.”

“This announcement is the perfect example of how the public and private sector can work together to make the clean energy transition a reality,” said Cindy Taff, CEO of Sage Geosystems. “We are thrilled to be at the forefront of the next generation of geothermal technology and applaud the DOE for supporting the commercialization of innovation solutions. As energy demand continues to grow, the need for reliable, resilient and sustainable power is paramount and our partnership with Meta underscores the critical need for innovative and sustainable energy solutions like ours.”

“The U.S. has seen unprecedented growth in demand for energy as our economy grows, the manufacturing sector booms thanks to the Biden-Harris Administration’s Investing in America agenda, and new industries like AI expand,” said U.S. Energy Deputy Secretary David Turk. “The Administration views this increased demand as a huge opportunity to add more clean, firm power to the grid and geothermal energy is a game-changer as we work to grow our clean power supply.”

The partnership between Sage and Meta signifies a major step forward in the quest for sustainable energy solutions, reinforcing Sage’s position as a leader in the geothermal revolution and Meta’s dedication to pioneering clean energy initiatives. In addition to this first of a kind geothermal project, Meta continues to invest in carbon-free energy to support its data centers and support the transition to a cleaner and more reliable grid. The first phase of this innovative project will aim to be online and operating in 2027.

About Meta Platforms, Inc. (Meta)

Meta, formerly known as Facebook Inc., is a social technology company that develops technologies to help people connect, find communities, and grow businesses. Meta’s products and services include Facebook, Instagram, Oculus, Messenger, and WhatsApp. Meta is headquartered in Menlo Park, California. For more information, visit www.meta.com.

About Sage Geosystems

Sage Geosystems was founded in 2020 and is developing energy storage and geothermal baseload technologies deep in the earth. The Sage Geosystems team has over 150 combined years in the oil and gas industry, with experience delivering major projects including Deepwater, Arctic, and Unconventional shales. The company is headquartered in Houston, Texas. For more information, visit www.sagegeosystems.com.

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