How much did DeepPower raise?

DeepPower raised an undisclosed amount in a Series A round on November 15, 2022.

Deeppower Closes Series A Venture Investment

PRIVATENov 15, 2022

Round Type

Series A

LehiManufacturingOil And Gas

Description

DeepPower, Inc. the developer of a breakthrough geothermal drilling technology to access the Earth’s unlimited source of clean energy, today announced that it recently closed its Series A investment round.

Quick answer

DeepPower raised an undisclosed amount in a Series A round, dated November 15, 2022. DeepPower is based in Lehi, Utah, United States.

How much did DeepPower raise?: DeepPower raised an undisclosed amount in a Series A round on November 15, 2022.
What does DeepPower do?: Deep Power is developing a breakthrough drilling technology to access Earth’s unlimited source of green geothermal energy.
Where is DeepPower based and how big is it?: DeepPower is based in Lehi, Utah, United States.

Source: Fundz verified event record.

Who else raised in Oil And Gas and Manufacturing around the same time

Companies in the same sectors as DeepPower that raised within 45 days of this round, from Fundz verified event records.

Meta Materials raised an undisclosed amount (Series A) on December 7, 2022.
AgEagle Aerial Systems raised $3.4M (Seed) on December 6, 2022.
UgoWork raised $23M (Funding Round) on November 22, 2022.
TECO2030 raised an undisclosed amount (Corporate Round) on November 14, 2022.
VULCAN Completion Products raised an undisclosed amount (Funding Round) on November 7, 2022.
Sabanto raised an undisclosed amount on November 4, 2022.

Who to call at DeepPower, and when

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Company Information

Company

DeepPower

Location

Lehi, Utah, United States

About

Deep Power is developing a breakthrough drilling technology to access Earth’s unlimited source of green geothermal energy. The Earth’s molten core is as hot as the Sun and harnessing just 0.1% of that heat energy can power humanity for 2 million years. Previous generations of drilling technology cannot go deep enough to make geothermal cost effective. We are developing a suite of advanced low-cost, high-temperature and high-pressure drilling systems to boldly go where no humans have gone before. The deeper we go the more energy we can unleash. Unlike large area solar and wind farms, a 9-inch hole by 5 miles deep can produce the same amount of power as 320 acres of solar panels. Like a power plug into the Earth we aim to provide every city, state and country direct and independent access to this “holy grail” source of eternal green energy.

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What this usually means

Typical timeline to Series B

Series A companies typically raise their next round in 10-18 months

DeepPower raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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