Panthalassa
Panthalassa is a Portland-based public-benefit corporation building autonomous floating platforms that convert ocean wave energy into electricity for onboard AI inference computing, delivering usage-based compute services to AI companies and hyperscalers via Starlink satellite connectivity from international waters.
- Company typePrivate
- Founded2016
- HeadquartersPortland, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Panthalassa does
Panthalassa is a public-benefit corporation, founded around 2016 and headquartered in the Portland, Oregon area, that builds autonomous floating platforms which convert ocean wave motion into electricity to power onboard AI inference computing hardware. The company's product line centers on its "Node" architecture: a self-propelled floating platform using a closed hydraulic loop to extract wave energy, with sealed compute modules housed below the waterline that use natural seawater cooling in place of freshwater systems. Connectivity between ocean-deployed nodes and land-based customers is delivered through SpaceX's Starlink satellite network, eliminating the need for anchors, cables, fuel, or grid interconnection. The current portfolio consists of the Ocean-2 prototype — a 70-meter steel tower generating up to one megawatt, deployed off the Washington coast since 2025 — and the Ocean-3 commercial series of approximately 85-meter nodes targeted for northern Pacific pilot deployment in 2026 and commercial deployment in 2027.
The company's commercial model is a usage-based AI compute service sold directly to AI companies and hyperscalers facing grid capacity, cooling water, and permitting constraints on terrestrial data centers, with secondary optionality in supplying wave-generated power to third-party maritime or coastal operators. Pricing is not publicly disclosed; the company has claimed a target power cost of $0.02/kWh, though third-party analysts have disputed this figure on operational grounds. The company is pre-revenue, with cumulative funding of approximately $210 million across a $140 million Series B led by Peter Thiel in May 2026 and prior private funding from AI companies, and a post-money valuation close to $1 billion.
Panthalassa's go-to-market combines an enterprise field-sales motion targeting large AI operators with a direct, satellite-mediated delivery model that bypasses terrestrial distribution. It maintains a content-driven marketing presence (corporate website, YouTube, LinkedIn, X) and has received earned-media coverage in Business Wire, GeekWire, Forbes, and TechRadar. Engineering and operations staff are concentrated in Portland and Vancouver, Washington, with active hiring across naval architecture, GNC, fluid dynamics, structural engineering, computational engineering, and offshore marine operations, and fleet operations planned for international waters in the northern Pacific.
Panthalassa firmographics
Firmographics- Name
- Panthalassa
- Legal name
- Panthalassa
- Website
- https://panthalassa.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Panthalassa is a Portland-based public-benefit corporation building autonomous floating platforms that convert ocean wave energy into electricity for onboard AI inference computing, delivering usage-based compute services to AI companies and hyperscalers via Starlink satellite connectivity from international waters.
- Ownership category
- akta.pro rank
Panthalassa industry classification
Industry- Product category
- Ocean-based AI Compute Infrastructure
- NAICS
- Ship Building and Repairing (336611), Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511)
- SIC
- Industrial Instruments For Measurement, Display, And Control (3823)
- akta.pro primary industry
- Wave Energy Converter (WEC) Power Generation (EUACAJAC)
- akta.pro secondary industry
- Marine & Hydrokinetic R&D (Tidal, Wave, River Current, OTEC) (EUAMAOAD)
Keywords
Where Panthalassa is headquartered
LocationHeadquarters
- HQ city
- Portland
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Panthalassa business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Infrastructure, Operations, Supply Chain, Marketing or Sales
Revenue model
- AI Compute Services at Sea: Providing AI inference computing infrastructure on autonomous floating nodes. AI companies purchase access to compute capacity generated from wave energy, with inference results transmitted via satellite to land. The model combines hardware deployment with compute service delivery.
- Power Generation for Third Parties: Wave energy generation platform that could potentially supply power to maritime operations or coastal facilities, though primary focus is on-board AI compute usage.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels5 records
Panthalassa product offering
Product offeringCore offering
Panthalassa builds autonomous, self-propelled floating wave energy nodes (the Ocean-3 series) that extract electricity from ocean wave motion through internal hydraulic systems and use that electricity to power onboard AI inference computing hardware. The sealed compute modules are cooled naturally by surrounding seawater, and inference results are transmitted to customers on land via Starlink satellite connectivity, enabling carbon-free AI compute that operates independently without anchors, fuel, or land tethers.
Product overview
Panthalassa is a public-benefit corporation building a planetary-scale wave energy platform for clean power generation and offshore AI computing. The company operates a two-product portfolio: Ocean-2 (the Pacific Ocean pilot deployment prototype, a 70-meter steel structure testing wave-to-compute technology off the Washington coast since 2025) and Ocean-3 (the commercial-ready autonomous floating node series that generates electricity from wave motion and performs AI inference computing directly at sea). Both products use seawater for natural cooling and satellite connectivity (Starlink) for data transmission, eliminating the need for land tethers, anchors, or grid connections. The platform is designed to address AI data center constraints including power availability, cooling water shortages, and permitting delays.
Differentiator
Problem solved
Functional benefit
Products and services
- Ocean-2 Prototype
- Ocean-3 Series
- AI Compute Services at Sea
Quantifiable outcome
- Power generation cost as low as $0.02/kWh claimed
- +2 more outcomes
Companies that use Panthalassa
Customer profileSegments2 records
Ideal customer profiles2 records
Panthalassa technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability2 records
Feature4 records
Panthalassa partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- SpaceX (Starlink)coreSpaceX's Starlink satellite network provides communications connectivity for Panthalassa's floating nodes, enabling data transmission from ocean locations to land. This is a critical infrastructure partnership for remote ocean operations.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Panthalassa competitors and assessment
Company assessmentDirect peers
- C-Power: C-Power builds autonomous ocean wave energy systems for remote power and monitoring applications. It is the closest direct comparable to Panthalassa on wave-energy generation at sea and remote, autonomous operating models.
- Wave Swell Energy: Australian wave energy company developing oscillating water column systems for coastal and offshore power generation. Direct comparable in wave-to-electricity technology.
- AW-Energy: Finnish wave energy company developing the WaveRoller oscillating wave surge converter. Peer to Panthalassa on wave-energy conversion technology targeting grid and off-grid applications.
- Atmocean: U.S. wave energy developer focused on nearshore and offshore wave energy capture systems. Comparable to Panthalassa on wave energy generation hardware and ocean-deployed platforms.
- Eco Wave Power: Israel/Sweden-based developer of wave energy converters targeting coastal and offshore power generation. Shares the same wave-to-electricity core technology thesis as Panthalassa, though it is earlier in commercial scale.
- SinnPower: German wave energy company developing oscillating water column and wave energy capture systems for utility-scale power. Direct comparable in wave energy generator technology.
- CalWave Power Technologies: U.S. wave energy developer spun out of UC Berkeley working on wave energy converters for utility-scale applications. Same wave-energy core technology domain as Panthalassa.
Others
- CoreWeave: Large-scale GPU cloud provider serving AI training and inference customers, including hyperscalers. Compares to Panthalassa on the AI compute services customer segment and inference workload focus, though CoreWeave is fully land-based.
Emerging players
- Minesto: Swedish marine energy company developing tidal kite and ocean current power systems. Overlaps with Panthalassa in ocean-based renewable generation, though using tidal currents rather than waves.
- Carnegie Clean Energy: Australian clean energy company developing the CETO wave energy technology, now pivoted toward ocean energy and blue economy applications. Comparable in marine energy generation focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Panthalassa social profiles
Digital presencePanthalassa financial estimates
Financial estimateRevenue estimate
Valuation estimate
Panthalassa leadership team
Management profileNumber of profiles
Profiles2 records
Panthalassa funding detail
Funding detailFunding overview
Funding rounds7 records
Investors29 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Panthalassa 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 Panthalassa
What does Panthalassa do?
Panthalassa builds autonomous, self-propelled floating wave energy nodes (the Ocean-3 series) that extract electricity from ocean wave motion through internal hydraulic systems and use that electricity to power onboard AI inference computing hardware. The sealed compute modules are cooled naturally by surrounding seawater, and inference results are transmitted to customers on land via Starlink satellite connectivity, enabling carbon-free AI compute that operates independently without anchors, fuel, or land tethers.
Is Panthalassa a public or private company?
Panthalassa is a private company. It is classified as venture growth investor backed and is currently operating.
When was Panthalassa founded?
Panthalassa was founded in 2016. It employs 101 to 250 people.
Where is Panthalassa based?
Panthalassa is headquartered in Portland, United States, in the North America region.
How does Panthalassa make money?
Two revenue lines are on record. AI Compute Services at Sea is the primary driver. The others are power Generation for Third Parties.
Who are Panthalassa's main competitors?
Direct peers on record are C-Power, Wave Swell Energy, AW-Energy, Atmocean, Eco Wave Power, SinnPower and CalWave Power Technologies. CoreWeave is listed as an others. Emerging players are Minesto and Carnegie Clean Energy.
Does Panthalassa have an API?
No public API is recorded for Panthalassa.
What industry is Panthalassa in?
Panthalassa's product category is Ocean-based AI Compute Infrastructure. Its primary akta.pro industry code is EUACAJAC, Wave Energy Converter (WEC) Power Generation, with a secondary code of EUAMAOAD, Marine & Hydrokinetic R&D (Tidal, Wave, River Current, OTEC). Its NAICS code is 336611 and its SIC code is 3823.