Geothermal Power Startup Zanskar Raises $115M to Unlock Untapped Energy

Zanskar has raised $115 million in a Series C round as it seeks to expand its approach to geothermal energy discovery and development.

The funding follows a year in which the company reported multiple new geothermal finds and reflects growing investor interest in baseload renewable power that can operate independently of weather conditions.

The US-based company applies artificial intelligence, field geology and proprietary software to identify geothermal resources that have traditionally been overlooked.

Rather than relying on visible surface indicators, Zanskar focuses on so-called “blind” geothermal systems, which it argues could unlock a far larger share of the world’s geothermal potential. The company estimates that as much as one terawatt of viable geothermal power remains untapped globally.

Zanskar plans to use the new capital to advance its discovery platform, accelerate drilling activity and move identified sites towards development. Unlike many exploration-focused peers, the company intends to take projects through to construction and operation.

The round comes amid renewed attention on geothermal energy as electricity demand rises, driven by electrification, industrial use and data centres. Unlike wind and solar, geothermal can provide continuous, firm power, making it attractive as grids seek stability alongside decarbonisation.

Sources:
Zanskar
TechCrunch
FinSMEs
The Tech Buzz
Renewables Now
Latitude Media

J.V.