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Endurance Energy, a startup founded in 2024 by former SpaceX engineer Andrew Redd, has raised $54 million in Series A funding to develop technology for harnessing geothermal energy from undersea volcanoes. The company aims to provide baseload, carbon-free power by utilizing heat from tectonic plate boundaries, specifically targeting regions along the Pacific 'Ring of Fire.'
The startup plans to deploy robotic systems to drill into the seafloor and generate electricity, with a 100-kilowatt prototype named Adelie scheduled for testing later this year at the Juan de Fuca ridge. While the company faces technical challenges related to deep-sea pressure and saltwater corrosion, it intends to leverage expertise from the oil and gas industry to scale operations to the gigawatt level within two years.
Endurance Energy secured $54 million in a Series A round led by Founders Fund to develop offshore geothermal power plants.
The company plans to generate electricity by tapping into heat from undersea volcanoes located along the Pacific Ring of Fire.
The startup's team includes 25 employees, with 12 former SpaceX staff members and a vice president of engineering from Helion Energy.
A 100-kilowatt prototype generator, Adelie, is expected to be deployed at the Juan de Fuca ridge later this year.
The company aims to achieve gigawatt-scale power production and deliver electricity to the grid within two years.
The company intends to use robotic systems to drill into the seafloor at tectonic plate boundaries where magma heats water to high temperatures.
Adelie is a 100-kilowatt generator designed to drill into the seafloor, generate electricity from volcanic heat, and facilitate energy transfer to the shore.
CEO Andrew Redd argues that undersea geothermal energy is a deployable, 24/7 baseload power source that avoids the land-use and depth limitations of traditional terrestrial geothermal projects.
The company must overcome the extreme water pressure and corrosive nature of saltwater at deep-sea depths using specialized hardware.
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