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INDUSTRY FIRST

Deeppower Closes Series A Venture Investment

Nov 15, 2022almost 3 years ago

Round Type

series a

LehiOil And GasManufacturing

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.

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.

FundzWatch™ Score

64
Medium Activity

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