en.Wedoany.com Reported - US startup Endurance Energy announced the completion of a $54 million Series A funding round to develop technology for harnessing energy from subsea geothermal systems. The funds will help the company transition from the prototype stage to a full-stack system and expand its offshore operational capabilities.

The round was led by Founders Fund, with participation from Ascend, Construct Capital, Felicis, First Round Capital, Point72 Ventures, Riot Ventures, and Voyager Ventures.

Founded by former SpaceX engineer Andrew Redd, Endurance Energy is developing technology to harness energy from submarine volcanic systems. According to the company, it has completed four prototype deployments in deep-sea volcanic systems at depths of up to 3,300 meters with hydrothermal temperatures reaching 386°C. Currently, they plan to deploy a 100-kilowatt generator on the Juan de Fuca Ridge off the Pacific Northwest coast of North America this fall.

Earlier this year, Endurance Energy signed an agreement with the government of Tonga to jointly explore opportunities for developing subsea geothermal resources within the kingdom's territorial waters. The collaboration aims to assess the potential of offshore volcanic systems as a reliable renewable energy source for the island nation.

In previous years, assessments of offshore geothermal prospects have been conducted, with work primarily focused on the North Sea region. However, this may be the first startup to secure funding for developing and deploying such technology. While the geological potential does exist, how to optimize the economics of subsea geothermal energy—considering the costs of subsea power distribution and distance to major onshore markets—remains to be seen.

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