Panthalassa Secures $140 Million In Series B Funding Led By Peter Thiel And Other Investors

Panthalassa, a renewable energy and ocean technology company, successfully raised $140 million in Series B funding, led by Peter Thiel. The funding round included participation from notable investors such as John Doerr, TIME Ventures, SciFi Ventures, Susquehanna Sustainable Investments, and Hanwha Group, along with returning backers like Founders Fund and Lowercarbon Capital.

Summary of transaction details:

• Deal Type: Series B
• Transaction Amount: $140,000,000
• Company Headquarters: Portland, Oregon
• Key Executive: Garth Sheldon-Coulson (Co-founder and CEO)
• Notable Investors: Peter Thiel, John Doerr, TIME Ventures, SciFi Ventures, Susquehanna Sustainable Investments, Hanwha Group, Anthony Pratt, Fortescue Ventures, Future Positive, WTI, Nimble Partners, Super Micro Computer, Sozo Ventures, Dylan Field, Planetary VC, Leblon Capital, Resilience Reserve, Portland Seed Fund & Intrepid Oregon Fund

The capital raised will be utilized to complete Panthalassa's pilot manufacturing facility near Portland and enhance the deployment of its Ocean-3 nodes, which are autonomous floating systems designed to generate wave-powered electricity offshore and support AI inference workloads. The company aims to harness the ocean as a significant energy source, with plans to initiate pilot system deployments in the northern Pacific by 2026 and a commercial rollout anticipated in 2027.