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§ Venture Capital · CA, USA
Power Planet develops Enhanced Geothermal Systems (EGS) using proprietary drilling automation technology. This enables the company to deliver clean, always-on, and cost-competitive geothermal power. Their technical approach focuses on commercializing energy from deep, high-temperature rock formations, aiming for leadership in next-generation geothermal.
Co-founded by Keith Elliott and Brij Hall-Potnis, Power Planet commenced operations around August 2024. The founders recognized that advanced drilling automation, paired with extensive field operational experience, could unlock the vast potential of geothermal energy. This insight drives their strategy to develop economically viable EGS projects.
Power Planet targets utility-scale energy markets and offers applications for governmental and defense organizations. Their long-term vision is to rapidly scale zero-carbon, always-on energy solutions. They aim to significantly expand geothermal resource viability and availability, aspiring for geothermal energy to become a critical component of the global energy infrastructure.
Power Planet Holdings has 1 tracked investment across 1 company. The latest tracked deal is $4.0M Seed in Sommelier in March 2021.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Mar 1, 2021 | Sommelier | $4.0M Seed | Standard Crypto | Multicoin Capital, Alameda Ventures, Proper Cygni |