Hades Mining, a deep-tech startup pioneering ultra-deep geothermal energy and critical mineral extraction, has secured €5.5 million in pre-seed funding. The round was spearheaded by Project A, with Jack Wang leading the charge, and included notable contributions from Anton Waitz, Uwe Horstmann, and Jannic Meyer. Visionaries Tomorrow, led by Thong Le Hoang, also participated, alongside Sebastian Pollok and Iris ten Have, PhD. The round saw further backing from Founders Factory and the Viessmann Generations Group, with Jack Kennedy and Anna Stella Wahl (Fetha) contributing, respectively. A distinguished group of angel investors, including Florian Seibel, Moritz von der Linden, Roman Hölzl, Daniel Wiegand, Hélène Huby, Chris O’Connor, and Dr. Nicolas Burkardt, added their support. Existing backers, Interface Capital and FounderLake, reaffirmed their commitment.
Founded by Dr. Max Werner, Björn Dressler, and Dan Gengenbach, Hades Mining is developing proprietary drilling and subsurface access systems designed to reach unprecedented depths. The company’s approach combines in-situ recovery (ISR)—a fluid-based mineral extraction technique—with ultra-deep geothermal access, enabling energy and resource production with minimal surface disruption. This dual focus addresses two critical challenges: Europe’s over 90% reliance on imported critical minerals and its more than 50% dependence on imported energy.
Hades Mining’s vertically integrated model, spanning from licensing to production, aims to deliver scalable, sustainable access to the building blocks of modern society. By accessing ultra-deep and stable heat reservoirs beneath the Earth’s crust, the company is unlocking geothermal energy at an unprecedented scale. This foundation for energy abundance and global resilience is complemented by the company’s advancements in ISR, a low-impact technique that uses fluid circulation to extract minerals from deep rock formations without open-pit excavation.
The successful funding round positions Hades Mining to accelerate the development and deployment of its breakthrough technologies. The implications for the mining and energy sectors are profound. The company’s approach could significantly reduce the environmental footprint of mineral extraction and energy production, addressing growing concerns about sustainability and climate change. Moreover, by unlocking domestic sources of critical minerals and energy, Hades Mining could enhance Europe’s geopolitical resilience and reduce its dependence on volatile global supply chains.
The mining industry has long been criticized for its environmental impact and resource depletion. Hades Mining’s technology offers a potential paradigm shift, combining deep geothermal energy with ISR to create a more sustainable and efficient extraction process. This could set a new standard for the industry, encouraging other companies to innovate and adopt similar technologies.
Furthermore, the company’s focus on ultra-deep geothermal energy could revolutionize the energy sector. By tapping into stable heat reservoirs, Hades Mining could provide a reliable and abundant source of clean energy, reducing dependence on fossil fuels and mitigating climate change.
The successful funding round is a vote of confidence in Hades Mining’s vision and technology. It also underscores the growing recognition of the need for innovative solutions to the interconnected challenges of energy security, resource scarcity, and environmental sustainability. As Hades Mining advances its technology, it will be crucial to monitor its progress and the broader implications for the mining and energy sectors. The company’s success could pave the way for a more sustainable and resilient future, reshaping how we power our societies and extract the resources we need.