Joining the funding round are previous investors Munich Re Ventures, Union Square Ventures, Lowercarbon Capital, Safar Partners, and First Star Ventures, as well as newcomer Clearvision Ventures.
Zanskar is an AI-native geothermal developer leveraging a suite of new technologies to improve the geothermal discovery and development process. In its work to decarbonize electricity generation, Zanskar is generating a pipeline of new discoveries and increasing the scalability of geothermal power generation.
“We are ready for this next phase of growth and are excited to bring Obvious onto the team,” said Carl Hoiland, Zanskar CEO and Co-founder. “We want to make geothermal the cheapest and most widely deployed firm renewable on the planet. Since our Series A, we beat industry discovery records and developed new tools to unlock a deep pipeline of new geothermal resources needed in our energy transition.”
Zanskar’s field data collection program collects low-cost, early-stage field data at a volume higher than what industry and academia combined have managed in past years. In addition to rapidly iterating model predictions, this technology has allowed Zanskar to make multiple greenfield geothermal discoveries.
Zanskar was also one of three companies (along with TEVERRA and Eavor Technologies) that were selected by the US Department of Defense’s Defense Innovation Unit to explore new geothermal resources and advance their mission of energy resilience.
“We’ve been scouring the planet for scalable clean power solutions to help address the current energy crisis and believe Zanskar has the disruptive technology needed to help the world avoid gridlock. With its AI-powered platform, Zanskar has made geothermal discovery more accessible and cost-effective, creating opportunities to find and distribute massive supplies of green energy now,” commented Andrew Beebe, Managing Director at Obvious Ventures.
“I still get excited every time we make a new discovery; it never gets old,” said Joel Edwards, Zanskar’s CTO and Co-founder. “We have an incredible team who are running through all the barriers that prevent geothermal discovery and de-risking. I’m blown away by what the team has accomplished; at this pace, we’re set to do some incredible work with the new funding by bringing new tools to geothermal.”
