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Sage Geosystems Secures Financing for Hybrid Geothermal Field Pilot A $3-million investment by a climate fund founded by TED curator Chris Anderson and an additional $2-million investment by a subsidiary of Helmerich & Payne will fund a hybrid CLG/EGS demonstration well in Texas. Drilling could begin this summer. January 26, 2021 Source: Sage Geosystems Sage Geosystems (Sage), a Houston-based firm focused on hot-dry-rock geothermal energy development, has received funding for a Phase 1 demonstration well using its HeatRoots technology. Sage plans to begin drilling the well, which will be located in the south Texas/Gulf Coast corridor, as early as this summer. The project represents an unprecedented partnership between geothermal development, the oil and gas industry, and climate venture funding with an indirect tie to tech and media. Sage CEO and cofounder Lev Ring is a former executive and global head of research and development with Weatherfor ....