What's Happening?
Munich-based Hades Mining has emerged from stealth with a €5.5 million pre-seed funding round led by Project A. The company is developing next-generation drilling and subsurface systems to unlock geothermal energy and critical minerals deep beneath the Earth's surface. Europe's demand for energy and critical minerals is increasing, driven by AI, electrification, and industrial reshoring. Hades Mining aims to address this challenge by accessing ultra-deep heat reservoirs and advancing in-situ recovery techniques. The company plans to operate projects directly, maintaining long-term ownership stakes and generating revenue from the minerals, power, and heat it produces.
AD
Why It's Important?
Hades Mining's innovative approach to geothermal energy extraction and mineral recovery has the potential to enhance Europe's energy independence and industrial resilience. By accessing deep resources, the company can provide secure domestic access to critical minerals and reliable baseload heat, supporting the continent's clean-energy transition. The funding will enable Hades Mining to develop new technologies and explore sites for energy and mineral extraction, contributing to Europe's strategic supply chains for EVs, renewable energy, and semiconductors.
What's Next?
Hades Mining will use the funding to advance its drilling and subsurface systems, focusing on European projects that strengthen strategic supply chains. The company aims to deploy its technologies at selected sites, enhancing efficiency and transforming each location into a platform for multiple high-value outputs. As Hades Mining continues to develop its operations, it may attract further investment and partnerships, accelerating the deployment of its innovative solutions.
