Hexagon Energy and Weyerhaeuser Company have agreed to develop up to 3 gigawatts of geothermal power on 145,000 acres in Oregon and Washington, marking a major push into renewable energy despite ongoing exploration phases.
The Agreement Details
Hexagon Energy, a Charlottesville-based renewable energy developer, has signed a strategic agreement with Weyerhaeuser Company to explore geothermal energy potential on 145,000 acres of the timber giant’s land in Oregon and Washington. The deal, announced on September 10, 2026, aims to generate up to 3 gigawatts of power—enough to supply over 2 million homes—though commercial-scale facilities remain in the evaluation phase. Sites in Oregon and Washington remain in the exploration and evaluation phases, and locations for any commercial scale geothermal facilities have not yet been finalized,
a Weyerhaeuser spokesperson said.
Hexagon CEO Matt Hantzmon emphasized the company’s use of a sophisticated, proprietary model to identify sites with a high likelihood of a commercially viable geothermal resource.
The agreement involves Weyerhaeuser’s forestland in the two states, with Hexagon focusing on enhanced geothermal systems that inject water into underground rock formations to generate electricity. Hexagon’s primary focus is on sites suitable for enhanced geothermal systems,
Hantzmon said.
Geothermal Potential and Technology
Geothermal energy has gained traction as a reliable, baseload power source, with the Trump administration supporting projects amid reduced incentives for solar and wind. In August, the U.S. Bureau of Land Management sold geothermal rights to 9,500 acres on Mount Hood National Forest for over $1 million. Weyerhaeuser’s Climate Solutions business, which includes renewable energy opportunities, aligns with this trend. Geothermal energy represents an emerging opportunity to provide clean and reliable, around-the-clock power, and our ownership presents a unique platform to evaluate that potential in the Pacific Northwest,
said Kendall Fountain, Weyerhaeuser’s vice president of Energy and Natural Resources.
Hexagon’s project could contribute to the nation’s renewable goals, with the company having developed or financed over 3 gigawatts of power for utilities and asset owners. The agreement includes exploration of multiple geothermal technologies, though enhanced systems are the primary focus. We are excited to partner with Weyerhaeuser to develop this significant geothermal resource and bring abundant, clean, baseload energy to the Pacific Northwest,
Hantzmon said.
Industry Context and Momentum
The deal reflects growing interest in geothermal energy, driven by demand for carbon-free power. Oregon and Washington are key battlegrounds, with developers like Mazama Energy exploring “superhot rock” technology at Newberry Volcano. Weyerhaeuser, which owns or controls more than 10 million acres of timberlands in the U.S., has been a sustainability leader for over a century, managing 100 percent of its timberlands sustainably. The company generated $6.9 billion in net sales in 2025, with energy and natural resources as a significant business line.
Hexagon, founded in 2015, has expanded beyond solar to include wind, battery storage, and geothermal projects. The company’s current pipeline includes more than 10 gigawatts of power under development, with a focus on utility-scale projects. Weyerhaeuser’s commitment to responsible land stewardship includes recreation, conservation, economic development, and renewable energy, creating a partnership that blends corporate sustainability with technological innovation.
Next Steps and Uncertainties
The agreement’s success hinges on finalizing commercial sites, a process still underway. Weyerhaeuser’s spokesperson noted that locations for any commercial scale geothermal facilities have not yet been finalized.
Hexagon’s exploration will depend on geological surveys and regulatory approvals, with no timeline for operational milestones. The project also faces questions about environmental impacts, community engagement, and grid integration—factors that could shape its long-term viability.
For now, the partnership underscores a strategic bet on geothermal energy’s role in the U.S. clean energy transition. As Hexagon and Weyerhaeuser navigate the exploration phase, the Pacific Northwest may emerge as a hotspot for geothermal innovation—though the path to commercialization remains unclear.
