Portland Ocean Energy Startup Raises $140M From Billionaire Peter Thiel
The funding will complete a pilot manufacturing facility and accelerate Ocean-3 deployments that use wave power to run AI inference at sea.
- On Monday, Portland-based renewable energy company Panthalassa announced $140 million in Series B financing led by Peter Thiel to complete a pilot manufacturing facility near Portland, Oregon, and accelerate Ocean-3 node deployment.
- Terrestrial data centers face significant constraints including limited grid capacity and cooling water scarcity, prompting Panthalassa to perform AI inference at sea using wave power instead.
- Following successful Ocean-1, Ocean-2, and Wavehopper prototypes in 2021 and 2024, the company plans to deploy its Ocean-3 pilot series in the northern Pacific Ocean this year, generating electricity to power onboard AI chips.
- Investor John Doerr called the system a "game changer in addressing global energy needs," while Thiel stated "extra-terrestrial solutions are no longer science fiction."
- With commercial deployments planned for 2027, Co-Founder and CEO Garth Sheldon-Coulson stated Panthalassa is "ready to build factories, deploy fleets, and provide a sustainable new source of energy for humanity.
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Silicon Valley bets $200M on AI data centers floating in the ocean
Silicon Valley investors such as Palantir co-founder Peter Thiel have bet hundreds of millions of dollars on deploying AI data centers powered by waves in the middle of the world’s oceans—a move that coincides with tech companies facing mounting challenges in building AI data center projects on land. The latest investment round of $140 million is intended to help the company Panthalassa complete a pilot manufacturing facility near Portland, Oreg…
Peter Thiel-backed Panthalassa raises $140M to build wave-powered floating AI data centers - Tech Startups
The race to build bigger AI models is running into a hard limit: power. A single training run can burn through as much electricity as thousands of homes, and new data centers are getting stuck in years-long queues for grid […] The post Peter Thiel-backed Panthalassa raises $140M to build wave-powered floating AI data centers first appeared on Tech Startups.
Silicon Valley startup wants AI data centres in the ocean, Peter Thiel thinks it is a great idea
Venture capitalist and PayPal co-founder Peter Thiel is backing a startup called Panthalassa with $140 million. The company plans to build floating, wave-powered AI data centres in the ocean, using energy from ocean waves and seawater cooling to tackle AI’s growing power and heat challenges.
Portland-based ocean energy startup gets $140 million investment from billionaire backers
Portland-based startup Panthalassa has received $140 million investment to support its development of floating data centers powered by wave energy and cooled by seawater.
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