Zanskar
Zanskar is an AI-native geothermal energy company that uses machine learning and geoscience to discover and develop geothermal resources, including blind systems without surface indicators. It sells utility-scale power under long-term PPAs to utilities, data centers, and industrial customers across the Western U.S.
- Company typePrivate
- Founded2019
- HeadquartersSalt Lake City, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Zanskar does
Zanskar is an AI-native geothermal energy company headquartered along the Wasatch Front in Salt Lake City, Utah. The company's core product is a proprietary AI-powered exploration platform that combines machine learning, modern geoscience, satellite and thermal data, and advanced field methods to identify and develop geothermal resources — including systems without visible surface indicators ('blind' resources). The platform operates across a three-stage value chain: Discover (AI + subsurface data to pinpoint geothermal resources), Deliver (accelerate development using AI and advanced drilling), and Operate (real-time optimization of generation). Zanskar discovered 'Big Blind' in western Nevada in late 2025 — the first blind geothermal system identified in the U.S. in over 30 years — and has confirmed a 250°F reservoir at roughly 2,700 feet depth.
Zanskar generates revenue through long-term power purchase agreements with utilities and through direct-use geothermal energy sales to industrial customers. The primary commercial arrangement is a 20-year PPA with NV Energy for 100 MW of geothermal energy delivery by 2030, expandable through 2050, which will also supply Amazon's Reno data center operations. The company has a Geothermal Exploration, Offtake and Development Engagement (GEODE) Agreement with California Community Power and nine member Community Choice Aggregators for California projects, and a MILESHIGH direct-use partnership with Freeport-McMoRan for geothermal heat at copper mines in Arizona backed by an $80M DOE grant. The company acquired the Lightning Dock geothermal power plant in New Mexico in July 2024, providing its first operational asset.
The company has raised approximately $180 million in equity through Series A ($12M, Aug 2022), Series B ($30M, May 2024), and Series C ($115M, Jan 2026, led by Spring Lane Capital — the largest venture investment to date into AI-enabled geothermal discovery), plus a $40M Development Capital Facility (expandable to $100M) co-led by Just Climate and Spring Lane Capital in April 2026. Operations span Utah, Nevada, New Mexico, California, and Arizona with 51-100 employees, and a multi-gigawatt pipeline of six 20 MW facilities targeting commercial operations within 3-4 years.
Zanskar firmographics
Firmographics- Name
- Zanskar
- Legal name
- Zanskar
- Website
- https://zanskar.us
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Zanskar is an AI-native geothermal energy company that uses machine learning and geoscience to discover and develop geothermal resources, including blind systems without surface indicators. It sells utility-scale power under long-term PPAs to utilities, data centers, and industrial customers across the Western U.S.
- Ownership category
- akta.pro rank
Zanskar industry classification
Industry- Product category
- Geothermal Energy
- NAICS
- Geothermal Electric Power Generation (221116), Geophysical Surveying and Mapping Services (541360), Support Activities for Mining (2131)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Geothermal Power Plant Development & IPP (Permitting, Financing, Project Development) (EUAMAEAD)
- akta.pro secondary industries
- Geothermal Resource Exploration & Assessment (Geology, Geophysics, Geochemistry) (EUAMAEAA), Geothermal Drilling & Well Construction (Production/Injection, Directional, Well Services) (EUAMAEAB), Geothermal Reservoir Engineering & Wellfield Management (Modeling, Stimulation, Reinjection Strategy) (EUAMAEAC), Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)
Keywords
Where Zanskar is headquartered
LocationHeadquarters
- HQ city
- Salt Lake City
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Zanskar business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Supply Chain, Marketing or Sales
Revenue model
- Power Purchase Agreements (PPAs): Long-term power purchase agreements with utilities for utility-scale geothermal electricity delivery. Zanskar develops and operates geothermal projects, selling power under 20-year contracts to utilities like NV Energy. Delivery scheduled for 2030 with 100 MW committed capacity.
- Direct Use Geothermal: Direct geothermal energy supply to industrial facilities like mining operations. Projects such as MILESHIGH provide geothermal heat for copper recovery and processing at mines, with power generation components feeding the grid.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | 100 MW geothermal capacity under 20-year PPA with NV Energy |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels5 records
Zanskar product offering
Product offeringCore offering
Zanskar operates as an AI-native geothermal energy company that uses machine learning, modern geoscience, and advanced drilling methods to identify, develop, and operate utility-scale geothermal resources. The company executes a three-stage value chain: Discover (AI + subsurface data to pinpoint geothermal resources), Deliver (accelerated lower-cost development using advanced drilling), and Operate (real-time optimization of generation). Zanskar sells 24/7 carbon-free baseload electricity to utilities, data center operators, and industrial customers through long-term power purchase agreements, and provides direct-use geothermal heat to mining operations.
Product overview
Zanskar is an AI-native geothermal energy company operating as a unified platform-plus-pipeline model. The core product is an AI-powered geothermal discovery platform that integrates subsurface data analysis, machine learning, and computational geoscience to identify and develop geothermal resources. The company operates a three-stage value chain: Discover (AI + subsurface data to pinpoint geothermal resources), Deliver (accelerate lower-cost development using advanced AI and drilling technology), and Operate (real-time insights to optimize generation and maximize energy output). The company has a multi-gigawatt pipeline of projects across the Western U.S., including the Lightning Dock Geothermal Power Plant in New Mexico (acquired 2024) and the Big Blind discovery in western Nevada.
Differentiator
Problem solved
Functional benefit
Products and services
- Utility-Scale Geothermal Power Supply Long-duration, 24/7 carbon-free baseload geothermal electricity sold to regional utilities, community choice aggregators, and hyperscale data center customers under multi-year Power Purchase Agreements. Assets include the Lightning Dock Geothermal Power Plant in New Mexico (acquired 2024) and the multi-gigawatt Western U.S. project pipeline, including the Big Blind discovery in western Nevada.
- Direct-Use Industrial Geothermal (MILESHIGH) Direct geothermal heat and on-site power supply to industrial mining operations for ore processing and enhanced material recovery. The MILESHIGH project provides geothermal heat to improve copper recovery at the Morenci and Safford mines, with surplus power feeding the grid.
- Geothermal Resource Development (GEODE Agreements) Risk-shared geothermal exploration, offtake, and joint development services delivered to consortiums of community choice aggregators and utilities under GEODE agreements, leveraging Zanskar's AI prospecting platform to identify, de-risk, and co-develop greenfield utility-scale geothermal resources.
Quantifiable outcome
- First blind geothermal system discovered in the U.S. in over 30 years
- +3 more outcomes
Companies that use Zanskar
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles4 records
Zanskar technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature4 records
Zanskar partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered notable and core.
- Freeport-McMoRannotableZanskar involved in MILESHIGH geothermal direct-use project at Morenci and Safford copper mines in Arizona. Project backed by $80M DOE grant out of $175M total cost, representing Arizona's first geothermal development.
- NV EnergycoreSigned 20-year power purchase agreement for 100 MW of geothermal energy with delivery by 2030. Deal encompasses multiple geothermal projects in Nevada through 2050, leveraging Zanskar's AI and advanced technologies to reduce exploration risks.
- California Community Power (CC Power)coreGeothermal Exploration, Offtake and Development Engagement (GEODE) Agreement to locate utility-scale geothermal resources across California using Zanskar's AI-powered prospecting toolkit. Nine member CCAs will support development and procure power.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Zanskar competitors and assessment
Company assessmentDirect peers
- Fervo Energy: Fervo is the leading next-generation geothermal developer using horizontal drilling and enhanced geothermal systems to deliver utility-scale, dispatchable power. Like Zanskar, Fervo targets hyperscalers and utilities with long-duration offtake contracts and is the most direct commercial competitor in advanced geothermal development.
- Eavor Technologies: Eavor developed a proprietary closed-loop geothermal technology (Eavor-Loop) for scalable, dispatchable clean power. It targets both utility-scale power and direct-use industrial heat, directly competing with Zanskar's AI-discovery-plus-development model for utility and industrial offtake.
- Sage Geosystems: Sage develops advanced geothermal systems using pressurization to extract heat from hot dry rock, targeting baseload power and direct-use industrial heat. It overlaps directly with Zanskar's value chain (geothermal resource development, utility-scale delivery, industrial direct use).
- GreenFire Energy: GreenFire is a California-based advanced geothermal developer applying innovative closed-loop and advanced well designs to commercialize geothermal resources. It competes with Zanskar for California utility offtake and Western U.S. resource rights.
- Cyrq Energy: Cyrq (formerly EnergySource) is a privately held renewable energy developer and operator with a focus on geothermal and utility-scale clean power projects. Its asset-heavy, developer-operator model closely mirrors Zanskar's planned IPP operations across the Western U.S.
Broad incumbents
- Ormat Technologies: Ormat is the longest-standing independent geothermal power producer and equipment manufacturer with a global operating portfolio. As the established incumbent, it provides a comparable revenue base (utility-scale geothermal PPAs) and serves as the industry benchmark for plant economics and O&M.
- Enel Green Power: Enel Green Power operates one of the world's largest renewable energy portfolios, including meaningful geothermal generation capacity. Its utility-scale, global, multi-technology developer-operator profile provides a benchmark for Zanskar's ultimate scale ambitions.
- EDP Renewables: EDPR is a global renewable energy developer with wind, solar, and emerging geothermal/storage interests, pursuing utility-scale PPAs worldwide. It represents the broader competitive set of large renewable developers that Zanskar could compete against for utility offtake and project finance.
Emerging players
- XGS Energy: XGS is an emerging next-generation geothermal developer pursuing closed-loop, solid-media systems to commercialize deep, hot dry rock resources. Its focus on technology-driven exploration and dispatchable power places it in the same advanced-geothermal category as Zanskar.
- Bedrock Energy: Bedrock is an early-stage geothermal startup focused on shallow, urban geothermal heat-pump and subsurface-loop deployment for commercial buildings. While its use case (HVAC vs. utility-scale power) differs, it shares Zanskar's AI/subsurface-modeling DNA and 'always-on clean energy' positioning.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Zanskar social profiles
Digital presenceZanskar financial estimates
Financial estimateRevenue estimate
Valuation estimate
Zanskar leadership team
Management profileNumber of profiles
Profiles2 records
Zanskar funding detail
Funding detailFunding overview
Funding rounds6 records
Investors24 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Zanskar M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Zanskar
What does Zanskar do?
Zanskar operates as an AI-native geothermal energy company that uses machine learning, modern geoscience, and advanced drilling methods to identify, develop, and operate utility-scale geothermal resources. The company executes a three-stage value chain: Discover (AI + subsurface data to pinpoint geothermal resources), Deliver (accelerated lower-cost development using advanced drilling), and Operate (real-time optimization of generation). Zanskar sells 24/7 carbon-free baseload electricity to utilities, data center operators, and industrial customers through long-term power purchase agreements, and provides direct-use geothermal heat to mining operations.
Is Zanskar a public or private company?
Zanskar is a private company. It is classified as venture growth investor backed and is currently operating.
When was Zanskar founded?
Zanskar was founded in 2019. It employs 101 to 250 people.
Where is Zanskar based?
Zanskar is headquartered in Salt Lake City, United States, in the North America region.
How does Zanskar make money?
Two revenue lines are on record. Power Purchase Agreements (PPAs) is the primary driver. The others are direct Use Geothermal.
Who are Zanskar's main competitors?
Direct peers on record are Fervo Energy, Eavor Technologies, Sage Geosystems, GreenFire Energy and Cyrq Energy. Broad incumbents are Ormat Technologies, Enel Green Power and EDP Renewables. Emerging players are XGS Energy and Bedrock Energy.
Does Zanskar have an API?
No public API is recorded for Zanskar.
What industry is Zanskar in?
Zanskar's product category is Geothermal Energy. Its primary akta.pro industry code is EUAMAEAD, Geothermal Power Plant Development & IPP (Permitting, Financing, Project Development), with a secondary code of EUAMAEAA, Geothermal Resource Exploration & Assessment (Geology, Geophysics, Geochemistry). Its NAICS code is 221116 and its SIC code is 4991.