The agreement will encompass nearly 150,000 acres and an estimated 3 GW of geothermal electricity generating capacity potential in the Pacific Northwest.
SEATTLE and CHARLOTTESVILLE, Va., Sept. 10, 2026 /PRNewswire-PRWeb/ -- Hexagon Energy, an independent energy development company with a long history of successful energy development across the United States, and Weyerhaeuser Company, one of the world's largest private owners of timberlands and a leading manufacturer of wood products in North America, announced the closing of a strategic agreement for the development of Geothermal projects across a suite of landholdings throughout the Weyerhaeuser land portfolio in Washington and Oregon.
Under this agreement, Hexagon Energy will develop geothermal projects on Weyerhaeuser's landholdings across two critical states with significant geothermal power generation potential. Weyerhaeuser's commitment to responsible land stewardship, including recreation, conservation, economic development, and different forms of renewable energy, aligns well with the development of geothermal power. "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, vice president of Energy and Natural Resources for Weyerhaeuser. "This agreement supports the continued growth of our Climate Solutions business while aligning with our commitment to responsible land stewardship, sustainability and long-term value creation."
The collaboration comes at a time when demand for geothermal energy is rapidly increasing, driven by a rising demand for baseload, carbon-free power. "We are excited to partner with Weyerhaeuser to develop this significant geothermal resource and bring abundant, clean, baseload energy to the Pacific Northwest." said Matthew Hantzmon, Chief Executive Officer of Hexagon Energy. "Our team is grateful that Weyerhaeuser entrusted us to unlock this valuable asset for them."
Hexagon has leased the geothermal rights on approximately 145,000 acres across Washington and Oregon. Once operational, this portfolio could bring over 3 GW of carbon-free power online.
About Hexagon Energy
Hexagon Energy is a purpose-built clean energy company with a proven track record of utility-scale wind, solar, standalone storage, and geothermal development across the United States. Hexagon covers the full spectrum of development and finance, including market analysis, environmental diligence, site control, transmission analysis, community engagement, state and local permitting, engineering, and financial modeling. Hexagon has developed and financed over 3 GW of power for the nation's largest utilities and asset owners- representing over $4.5 billion in investment capital.
Hexagon's current pipeline includes more than 10 GW of power under active development. Hexagon is united with utilities, asset owners, offtakers, project partners, landowners, and communities behind one common goal: powering a reliable, clean future. Learn more at hexagon-energy.com.
About Weyerhaeuser
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900 and today owns or controls more than 10 million acres of timberlands in the U.S., as well as additional public timberlands managed under long-term licenses in Canada. Weyerhaeuser has been a global leader in sustainability for more than a century and manages 100 percent of its timberlands on a fully sustainable basis in compliance with internationally recognized sustainable forestry standards. Weyerhaeuser is also one of the largest manufacturers of wood products in North America and operates additional business lines around product distribution, climate solutions, real estate, energy and natural resources, among others. In 2025, the company generated $6.9 billion in net sales and employed approximately 9,500 people who serve customers worldwide. Operated as a real estate investment trust, Weyerhaeuser's common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.
Media Contact
Emily Pendergraft, Hexagon Energy, 1 434.207.8374, [email protected], https://hexagon-energy.com/
SOURCE Hexagon Energy
Share this article