$17.8M Series A Funding to Accelerate Success for Hephae’s Commercial Partners

14th July 2026

We are excited to share today that Hephae has raised an $17.8M Series A financing co-led by Susquehanna Sustainable Investments and Underground Ventures with participation by alfa8, Baruch Future Ventures, Centaurus Capital LP, Elemental Impact, Exa Ventures, Future Ventures, Grantham Foundation for The Protection of the Environment, New System Ventures, and True North Institute. This new round brings total capital raised to $24.7M and accelerates our mission to scale next-generation geothermal globally through ultra-high temperature robotics.

This financing comes at a pivotal moment for our company. Over the past year, Hephae has achieved significant technical milestones, including the successful deployment of Pandora210®, the world’s first commercially focused 210°C circulating temperature Measurement While Drilling (MWD) system, expanded strategic partnerships with leading geothermal developers, and continued growth across our engineering and manufacturing capabilities.

With this investment, we will accelerate commercialization of our technologies, expand manufacturing capacity, grow our world-class team, and continue developing the high temperature drilling systems needed to enable geothermal energy at global scale.

At the highest level, this round will allow us to:

Scale the commercial deployment of Pandora210® across geothermal drilling applications
Expand manufacturing and operational capacity to meet increasing customer demand.
Advance development of next-generation technologies, including rotary steerable systems, high temperature power generation, and downhole communications.
Grow our engineering, manufacturing, and commercial teams across North America and Europe.
Continue strengthening our intellectual property portfolio and technical leadership in ultra-high temperature electronics.

For our customers

For our customers, the most important result of this round will be to use this new capital to fuel rapid growth, building more tools to meet the growing rig demand.

Reliable directional drilling remains one of the greatest challenges facing next-generation geothermal development. We are committed to delivering technologies that improve drilling reliability, reduce non-productive time, extend tool life, and enable operators to confidently drill hotter, deeper, and more complex wells. This investment allows us to accelerate product availability while continuing to innovate alongside our customers.

For the geothermal industry

For the geothermal industry, reliably accessing superhot rock requires drilling technology optimized for geothermal reservoirs. We’re building the enabling technologies that bridge decades of oil and gas drilling expertise with the demands of next-generation geothermal systems. By pushing beyond long-standing temperature limitations, we’re helping make geothermal commercially achievable in virtually all geologies, no matter how hot.

Looking ahead

We are grateful for our customers, investors, partners, and suppliers. Your trust, insights, and feedback are critical to our collective goals of building the next phase of the roadmap from technology development to commercial scale. The journey doesn’t stop at 210°C. Our vision is to push the boundaries of high temperature drilling to 400°C, unlocking superhot rock geothermal development.

We are excited to have even greater resources to move faster, innovate further, and work together to advance the drilling technologies required to enable the global deployment of next-generation geothermal energy.