# AltaRock

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/altarock

- Industry: Renewable Energy
- Headquarters: Seattle, US
- Website: altarockenergy.com
- Total disclosed funding: $30M
- Latest round: Series B (Aug 19, 2008)
- Investors on record: 5

## About

AltaRock Energy specializes in the advancement of Enhanced Geothermal Systems (EGS) technology, focusing on the efficient harnessing of Superhot Rock geothermal energy for sustainable energy solutions.Founded in 2007 and headquartered in Seattle, US, AltaRock Energy is dedicated to developing Enhanced Geothermal Systems (EGS) technology. The company was founded by Aaron Mandell, who has a history of engagement in innovative energy solutions. AltaRock has raised USD 26.30 mn through Series B funding on August 19, 2008, with notable investors including Advanced Technology Ventures, Alphabet, Khosla Ventures, Kleiner Perkins, and Vulcan Capital. The total amount raised by the company is USD 26.30 mn, with a current valuation of USD 74.17 mn.AltaRock Energy (ARE) focuses on developing Enhanced Geothermal Systems (EGS) technology, specializing in Superhot Rock (SHR) geothermal energy. Their product line encompasses advanced drilling technologies, innovative well completion techniques, and reservoir engineering solutions designed for high efficiency in geothermal energy production. ARE employs non-mechanical drilling methods, including plasma and millimeter wave techniques, to reach depths surpassing 7 kilometers. The company also engineers high-temperature materials to withstand the extreme conditions in SHR environments, ensuring the durability of geothermal wells. AltaRock serves diverse geographical markets across the US, particularly in regions like the Newberry Volcano in Oregon and the Cascade Mountain Range, as well as participating in international projects in Europe.AltaRock Energy generates revenue through strategic collaborations and partnerships with research institutions and energy companies focused on advancing geothermal technology. Their revenue streams are primarily derived from the commercialization of EGS technologies, including patented drilling methods and materials integrated into geothermal projects. The pricing model varies based on project specifications, though detailed pricing structures remain undisclosed. Their leading products in SHR extraction and advanced materials development serve both commercial clients and government energy initiatives, supporting the growth of geothermal energy as a reliable resource.AltaRock Energy plans to leverage the recent Series B funding of USD 26.30 mn to expand its product offerings and enhance market presence. The company is currently working on launching new drilling technologies aimed at improving geothermal energy extraction efficiency, with anticipated releases in the coming years. Furthermore, AltaRock aims to extend its market reach into international regions, specifically targeting Europe for new project collaborations by the end of 2025. The funding will be utilized to further develop innovative solutions and foster partnerships that boost the deployment of geothermal energy technologies.

## Funding rounds

- Series B, Aug 19, 2008, $26M — Advanced Technology Ventures, Kleiner Perkins, Khosla Ventures, Vulcan, Alphabet
- Series A, Jun 1, 2007, $4M — Kleiner Perkins, Khosla Ventures

## Investors

- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series A, Series B
- Khosla Ventures (https://capitalatlas.ai/funds/khosla-ventures) — Series A, Series B
- Advanced Technology Ventures (https://capitalatlas.ai/funds/advanced-technology-ventures) — Series B
- Vulcan (https://capitalatlas.ai/funds/vulcan) — Series B
- Alphabet — Series B