Episode summary
Sage Geosystems CEO on the Promise of Geothermal Energy | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · Hosts: Carol Massar, Tim Stenovec · Guests: Cindy Taff
Summary
Cindy Taff argues that geothermal is moving from a niche resource to a scalable power source because next-generation systems can tap hot dry rock, not just rare underground water reservoirs. She says conventional geothermal reaches only about 2% of global potential, while Sage Geosystems’ approach could expand that to 50% or 60% in the lower 48 US alone, with even larger potential globally.
The discussion focused on why geothermal is getting more attention from data centers and policymakers. Taff says Sage has a term sheet with Meta for a virtual power purchase agreement, allowing the company to build near a data center while feeding power into the same grid. She also argues geothermal has bipartisan support and is appearing in executive orders and the “one big beautiful bill.”
Taff addressed the common objections: upfront capital costs, long development timelines, and seismic risk. She said Sage’s approach reuses water in a pressurized loop, keeps losses below 2%, and reduces earthquake risk compared with disposal-driven oil and gas operations. On cost, she said geothermal is where wind and solar were 15 years ago, but could fall to 6 to 7 cents a kilowatt hour at scale.
Key takeaways
- Taff says Sage’s next-generation geothermal could unlock 50% to 60% of the geothermal resource in the lower 48 US, versus about 2% for conventional geothermal.
- Taff says Sage has a term sheet with Meta for a virtual PPA, with power generated near a data center but delivered onto the grid.
- Taff argues geothermal’s seismic risk is lower than oil-and-gas wastewater disposal because Sage cycles water in and out instead of continuously injecting volumes underground.
- Taff says water losses in Sage’s system are below 2%, so the makeup-water need is “very immaterial.”
- Taff says geothermal is roughly where wind and solar were 15 years ago, and could reach 6 to 7 cents per kilowatt hour at scale.
Notable quotes
“it represents only about 2% of the geothermal around the world. What Sage is doing and there's other companies of course in the industry is we're tapping into hot dry rock”
“you're talking about between five and seven terowatts and this is in the lower 48 US only”
“we have a term sheet with Meta. So we are going to be it that will become a virtual PPA”
“I think we are where wind and solar were 15 years ago. Right now, 10 to 12 cents a kilowatt hour”
How the episode opens
Bloomberg Audio Studios podcasts radio news.
You're listening to Bloomberg Business Week with Carol Masser and Tim Stenc on Bloomberg Radio. Hey, I want to talk a little bit about um energy. So, in October, Bloomberg reported on how for the first time in years, the US federal government has leased every parcel of public lands open for geothermal development and at record prices.
on that. Just last month, Bloomberg's Michelle Ma reporting that Orma Technologies, one of the world's biggest geothermal energy developers, co-led a $97 million series B funding round for a company that's tapping hot rocks to generate electricity.
Yeah, that startup G Sage Geos Systems, it is one of the companies leading the push to utilize uh innovative technology to really harness energy from the ground and meet surging power demand from artificial intelligence. you know from everything that we've talked about that this demand to build out AI data centers means a lot of power is needed and whether it's going to be solar or nuclear or carbon-based we need it all geothermal as well so let's get more on the company for that we do head to Houston Texas and to Cindy Taff she's CEO of Sage Geos Systems she spent uh more than three decades in the oil and gas industry including most recently as VP of unconventional wells and logistics over at Shell she's had teams around the globe we are so delighted to have you here we've looking forward to having you on. Um, tell us a little bit about your company.
Yeah, thanks for having me on. I love talking about next generation geothermal. So, yeah, we founded Sage about 5 years ago. So, as you described, my background is oil and gas. My co-founders, Levering and Lance Cook, their background is oil and gas.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- geothermal energy
- energy storage
- clean energy
- oil drilling technology
- energy transition
Companies and tickers mentioned
- Sage Geosystems
Watch the episode
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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