Geothermal power, a vastly underutilized energy source, is gaining attention as Zanskar, a startup, aims to uncover the hidden potential beneath the Earth’s surface. With a recent $115 million funding boost, Zanskar is on a mission to identify geothermal resources that could revolutionize the energy landscape in the U.S. West.
While the Department of Energy projects geothermal power could contribute up to 10% of U.S. electricity by 2050, Zanskar’s CEO believes these estimates are conservative. The company argues that traditional geothermal methods, often overshadowed by enhanced geothermal techniques, have been underestimated in their capacity to generate power.
Conventional geothermal, which taps into naturally fractured hotspots, has long been overlooked due to outdated assumptions. Advancements in drilling technologies, however, could unlock a terawatt-scale opportunity by maximizing the output of existing systems.
Embracing artificial intelligence, Zanskar has revived stagnant geothermal sites, including a power plant in New Mexico, and identified promising locations with significant power potential. This approach has attracted substantial investment, with a $115 million Series C funding round led by Spring Lane Capital and supported by a consortium of sustainability-focused investors.
Source: TechCrunch