Thunderstone

What Thunderstone does

Thunderstone is a privately-held climate technology company developing high-voltage electrical pulse ("underground lightning") technology to enable in-situ metal extraction from ore bodies without excavation, drilling, blasting, or hauling. The core method applies controlled electrical pulses to stimulate ore and liberate metals underground while managing fluid permeability to direct leaching flows toward otherwise inaccessible zones. The company claims operational advantages versus conventional mining including 0% excavation required, up to 60% lower extraction costs, deployability in under 12 months, up to 90% less environmental disturbance, up to 90% lower carbon output, and 70% less water usage, and frames its addressable market as $250B in untapped global ore.

The company's commercial offering is structured around three pathways: (1) in-situ metal recovery for below-grade ore, small deposits, or unlisted assets; (2) services to existing mines that improve permeability in stranded assets, legacy waste, and heap leach systems; and (3) licensing and joint ventures for adjacent clean-tech applications including carbon mineralization, geothermal energy, and hydrogen production. Revenue mechanics rely on quote-based enterprise engagement, licensing/royalty arrangements, and professional services to mining operators. The go-to-motion is direct enterprise sales targeting mine operators, exploration companies, and clean-tech investors, supported by content marketing (website, Substack newsletter "Beneath the Surface"), and LinkedIn presence. No public pricing, no published revenue, and no named customer logos are disclosed.

Thunderstone was spun out of Deep Science Ventures (DSV) and is backed by Roadrunner, Dangerous Ventures, Founders Factory, and Rio Tinto as a strategic investor. The team is small (three explicitly identified members — Founder/CEO Eric Wasson-Burns, Pulsed Power Engineer/Head of Engineering Andrew Alexander, and Mechanical Engineering Technician Ash Abusafieh) and is actively hiring. The company is described as San Francisco-based in its own materials, with a Delaware corporate registration at 1209 Orange Street, Wilmington, while third-party firmographics list Albuquerque as the city, indicating either relocation or data inconsistency that is unresolved in the available sources.

Name

Thunderstone

Legal name

Thunderstone Inc.

Website

https://thunderstone.rocks

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Thunderstone is a private climate technology company that uses high-voltage electrical pulse ("underground lightning") technology to extract metals from ore bodies in-situ without excavation, selling services and licensing to mine operators, exploration companies, and clean-tech partners.

Ownership category

akta.pro rank

Product category

Mining Technology Services

NAICS

Support Activities for Metal Mining (213114), Copper, Nickel, Lead, and Zinc Mining (212230), Metal Ore Mining (2122)

SIC

Mining Machinery & Equip (No Oil & Gas Field Mach & Equip) (3532), Metal Mining (1000)

akta.pro primary industry

Blasting & Explosives Services (Drill-and-Blast, Explosives Supply, Shot Services) (IMAKAKAC)

akta.pro secondary industry

Copper Tailings, Waste & Water Management (IMAKADAL)

Keywords

• In-situ metal extraction
• Underground electrical pulses
• Excavation-less mining
• Clean mining technology
• In-situ leaching services

Headquarters

HQ city

Albuquerque

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Licensing and Joint Ventures: Thunderstone offers its conductivity technology through licensing or joint venture arrangements. The modular, site-responsive system can be deployed across different applications including clean-tech fields.
2. Service to Existing Mines: Thunderstone provides services to existing mines to improve subsurface permeability and direct leaching flows to inaccessible ore zones. Delivers fluids where needed with minimal new infrastructure.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Thunderstone develops and deploys a proprietary high-voltage electrical pulse ("underground lightning") technology that enables in-situ metal recovery from below-grade ore bodies without excavation, drilling, blasting, or hauling. The company offers three pathways: (1) in-situ metal recovery for extracting metals from below-grade ore, small deposits, or unlisted assets; (2) services to existing mines to improve subsurface permeability and direct leaching flows in stranded assets, legacy waste, and heap leach systems; and (3) licensing or joint ventures extending the conductivity technology to clean-tech fields such as carbon mineralization, geothermal energy, and hydrogen production.

Product overview

Thunderstone offers a suite of underground lightning-based metal extraction services built around its proprietary high-voltage electrical pulse technology. The core offerings consist of three pathways: (1) In-Situ Metal Recovery for extracting metals from below-grade ore without excavation, (2) Service to Existing Mines for improving permeability in legacy operations, and (3) Licensing and Joint Ventures for applying the technology to clean-tech applications like carbon mineralization, geothermal energy, and hydrogen production. The technology uses electrical pulses to stimulate ore bodies and facilitate underground metal extraction, bypassing conventional drilling, blasting, and hauling.

Differentiator

Problem solved

Functional benefit

Products and services

• In-Situ Metal Recovery Enables in-situ extraction of metals from below-grade ore, small deposits, or unlisted assets using targeted conductivity stimulation, recovering metals without excavation, surface disruption, or waste and with up to 90% lower carbon output than conventional mining. Targeted at mine operators and exploration companies.
• Service to Existing Mines Helps existing mines improve subsurface permeability and direct leaching flows to otherwise inaccessible ore zones. Delivers fluids where needed with minimal new infrastructure, targeting stranded assets, legacy waste, and heap leach systems. Aimed at existing mining operators.
• Licensing and Joint Ventures Thunderstone's conductivity technology extended beyond mining into clean-tech fields such as carbon mineralization, geothermal energy, and hydrogen production, offered through licensing or joint venture arrangements using a modular, site-responsive system to accelerate subsurface transformation. Targeted at clean-tech investors and strategic partners.

Quantifiable outcome

• 0% excavation required
• +6 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Lilac Solutions: Lilac Solutions develops novel ion-exchange lithium extraction technology. Both companies replace conventional hard-rock mining with chemical/physical in-situ extraction methods targeting critical battery minerals, competing for the same clean-energy mining technology buyer.
• Cameco: Cameco is the world's largest uranium producer and a leading commercial user of in-situ recovery (ISR/ISL) for uranium extraction. Thunderstone's electrical-pulse in-situ leaching competes directly with the ISR approach Cameco has deployed at scale across multiple sites.
• Energy Fuels: Energy Fuels operates uranium and rare earth in-situ recovery projects in the US. Both companies use chemical in-situ recovery approaches to extract metals without conventional excavation, positioning within the same clean-mining technology category.

Emerging players

• KoBold Metals: KoBold Metals uses AI-driven exploration to discover and develop critical mineral deposits (copper, nickel, lithium, cobalt). Both companies target the same critical-minerals value chain with technology-led approaches to making mineral extraction faster and cleaner than legacy methods.
• Ideon Technologies: Ideon Technologies uses subsurface sensing and imaging to map ore bodies for mining companies. Both companies apply advanced physics-based subsurface technology to accelerate and de-risk critical mineral discovery and extraction for the same enterprise customers.

Broad incumbents

• Sandvik Mining and Rock Solutions: Sandvik supplies drilling, rock processing, and mining equipment to operators globally. As a broad incumbent in mining equipment manufacturing, Sandvik is the type of established vendor that Thunderstone's mining customers would otherwise purchase equipment from.
• Metso: Metso is a major supplier of mining, crushing, and minerals processing equipment. As a broad incumbent serving the same mine operators, Metso represents the conventional equipment ecosystem that Thunderstone's excavation-free approach is positioning to disrupt.
• Rio Tinto: Rio Tinto is a top-tier diversified miner and an existing investor in Thunderstone. As both a strategic shareholder and a potential pilot customer/competitor with internal mining-technology R&D, Rio Tinto occupies a unique incumbent role relative to Thunderstone.
• Freeport-McMoRan: Freeport-McMoRan is one of the world's largest copper miners with significant exposure to copper critical-mineral demand. As a target enterprise customer and incumbent competitor with deep in-house mining innovation teams, Freeport is directly comparable to Thunderstone's prospective buyer base.
• BHP: BHP is the world's largest mining company by market cap, with major exposure to copper, nickel, and critical minerals. As a target enterprise customer with its own mining innovation and venture arms, BHP represents the type of large incumbent Thunderstone's go-to-market targets.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/thunderstone-rocks

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Thunderstone