Zanskar, a Utah-based startup, is revolutionizing the geothermal power industry by using machine learning models to identify ideal drilling locations. This innovative approach has led to the discovery of more hidden geothermal resources in the past year and a half than the industry found in the previous decade. By significantly reducing the exploration cost, Zanskar aims to make geothermal power more competitive with other renewable energy sources like wind and solar. The company recently secured $30 million in funding, bringing its total investment to $45 million, to continue its exploration and begin development of its first power plants.
Geothermal power is a promising clean energy source that harnesses heat from beneath the Earth’s surface to generate electricity. However, the high cost of drilling has hindered its widespread adoption, with geothermal projects costing nearly five times as much as wind power projects. Zanskar’s technology aims to reduce this cost by using data from various sources and machine learning models to pinpoint the best locations for drilling. By increasing the certainty of drilling viable holes, Zanskar hopes to unlock vast amounts of clean and reliable electricity for the world.
The startup’s founders, Carl Hoiland and Joel Edwards, were inspired by the challenges in geothermal exploration during their studies in geology. They believe that improving the hit rate for drilling is possible with the use of advanced technology. Since its founding in 2018, Zanskar has been refining its models and identifying ideal locations for power plants. The company’s success has attracted the attention of investors, with over $1.5 billion being poured into geothermal startups since 2019.
Zanskar’s technology is a game-changer in the geothermal industry, offering a cost-effective solution to increase the viability of geothermal power plants. By utilizing data from satellites, geological surveys, and earthquake waves, the company’s machine learning models can predict the most suitable drilling sites. With plans to expand its team and bring its first facility online in about four years, Zanskar is on track to make a significant impact in the renewable energy sector. The company’s ultimate goal is to put electrons on the grid and provide a reliable source of clean electricity for the future.
