Panthalassa Raises $140 Million to Power AI at Sea

They are joined by existing investors Founders Fund, Gigascale Capital, Lowercarbon Capital, Unless, and WovenEarth.

The company plans to use the funding to complete its pilot manufacturing facility near Portland, Oregon, and accelerate the rollout of its Ocean-3 nodes, which will use wave-generated power to run AI computing at sea.

Panthalassa’s nodes are autonomous, floating steel systems that operate in the open ocean, continuously generating clean energy. Instead of sending power back to land, they use it on site to run AI chips, and transmit results via satellite, while the ocean naturally cools the systems, reducing heat issues, and extending the life of the hardware.

As demand for electricity and computing keeps growing, land based data centers face challenges like limited power supply, water shortages for cooling, supply delays, slow approvals, and pressure on local communities and Panthalassa’s platform helps solve this by providing energy and AI computing at sea, reducing the need for new data centers on land, easing pressure on the grid, lowering environmental impact, and cutting energy costs for homes and businesses.

Panthalassa has spent the past decade developing its core technologies for power generation, movement, autonomy and at sea computing, with its Ocean-1, Ocean-2, and Wavehopper prototypes successfully tested in 2021 and 2024. In 2026, it plans to deploy its Ocean-3 pilot nodes in the northern Pacific Ocean to demonstrate AI computing at sea and refine production ahead of full commercial rollout in 2027.

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“The future demands more compute than we can imagine,” said Peter Thiel. “Extra-terrestrial solutions are no longer science fiction. Panthalassa has opened the ocean frontier.”

“Panthalassa’s autonomous wave power system is a game changer in addressing global energy needs and clean power generation,” said John Doerr. “It is a triple win: workers benefit, communities benefit, and we gain a strategic asset that strengthens American technological leadership.”

About Panthalassa

Founded by Garth Sheldon-Coulson, Panthalassa is a renewable energy and ocean technology company based in Portland, Oregon, focused on using ocean wave energy to generate clean power, with self moving nodes that generate electricity, run AI computing onboard, and send data via low Earth orbit satellites. It operates as a public benefit corporation backed by leading investors.

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