Sage Geosystems, Facebook owner sign geothermal power off-take deal

Meta Platforms Inc (NASDAQ:META) has agreed to procure geothermal power from US geothermal technology developer Sage Geosystems as part of a partnership that will deploy up to 150 MW of new capacity to support the social media giant’s data centre growth.

The partnership was agreed during a geothermal development-focused workshop hosted by the Department Energy (DoE) on Monday. The agreed project will utilise Sage’s Geopressured Geothermal System (GGS).

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The collaboration between Meta and Sage will mark the first use of next generation geothermal power east of the Rocky Mountains. The first phase of the project is expected to become operational in 2027, the companies announced in separate statements.

Houston, Texas-based Sage was founded in 2020. The company is focused on hot dry rock (HDR) technology, targeting optimal temperatures of 100-250 degrees Celsius at depths accessible through existing oilfield technologies.

In February, Sage announced the first close of a Series A financing round to advance a 3-MW GGS project in Texas. Earlier this month, the firm secured terrain for the planned facility.