The Venture Codex

Led · Series A · Feb 2024

Sage Geosystems is a Houston-based pressure geothermal company that extracts energy from hot dry rock by harnessing both the earth’s heat and natural pressure. Its proprietary system supports three main applications: grid-scale energy storage, 24/7 power generation, and direct heating, which together broaden geothermal’s viable geography beyond traditional hydrothermal regions. The firm is currently building its first commercial pressure-geothermal power facility within an existing Ormat power plant, showcasing a pathway to low-cost, baseload renewable electricity. In 2024 Sage signed an agreement with Meta to supply up to 150 MW of geothermal baseload power for data-center expansion east of the Rocky Mountains. Proceeds from the latest financing will fund continued technology development, construction of the inaugural commercial plant, and expansion of its energy-storage offering. Following its Series B, the company has raised more than $97 million to date, backed by a mix of strategic energy players and climate-focused investors. Although Sage has not disclosed revenue or user metrics, the size of this round underscores investor confidence in its ability to scale geothermal as a global clean-energy resource.

Participated · Equity · Jun 2013

Wireless Seismic develops RT System 2, a fully scalable wireless seismic recording system that transmits data in real time for onshore seismic acquisition and passive monitoring of hydraulic fracturing. The company emphasizes a cable-less approach it says is becoming a new standard for land seismic work. Headquartered in Sugar Land, Texas, it also maintains offices around the world. Wireless Seismic positions its recording systems to help contractors handle challenging surveys more efficiently and commercially. The company recently expanded its board to six members following new investment and aims to use the partnership with Total to support international expansion. Wireless Seismic develops and provides a wireless seismic data acquisition system (RT-1000) offering real-time data return to the exploration and production industry. Its core product, the RT-1000, capitalizes on emerging seismic, wireless and mesh-network technologies. The company completed a $19.5M funding round and intends to use the proceeds to scale up manufacturing operations for the RT-1000. In conjunction with the financing, Jim Sledzik of Energy Ventures will join the company’s board and Gary E. Jones will assume the position of chairman. Wireless Seismic was formed in 2006 and is based in Louisville, CO, with an office in Sugar Land, TX.