# Hephae Energy Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hephae-energy-technology

- Industry: Industrial Machinery
- Headquarters: Spring, US
- Website: www.hephaeet.com/
- Total disclosed funding: $24M
- Latest round: Series A (Jun 30, 2026)
- Investors on record: 12

## About

Founded in 2020 and based in Texas, US, Hephae Energy Technology provides drilling solutions using geothermal energy. As of 2024, the company is headed by its CEO Steve Krase. In July 2026, Hephae Energy Technology LLC raised USD 17.8 million in series A funding co-led by Underground Ventures and Susquehanna Growth Equity, with participation from Alfa8, Baruch Future Ventures, Centaurus Capital, Elemental Impact, EXA Ventures, New System Ventures, True North Institute, Future Ventures, Grantham Foundation, and Nabors.

The flagship product, Pandora210, is a high-temperature directional drilling system designed to facilitate the drilling of unconventional geothermal wells at economically viable temperatures. This technology is focused on advancing geothermal energy accessibility particularly high-temperature directional drilling technologies that facilitate geothermal well drilling.

The company plans to utilize the July 2026 funding to commercialize Pandora210® and develop next-generation high-temperature drilling technology.

## Funding rounds

- Series A, Jun 30, 2026, $18M — Centaurus Capital, Grantham Foundation, Susquehanna Growth Equity, EXA Ventures, Nabors, Baruch Future Ventures, Elemental Impact, Future Ventures, New System Ventures, Underground Ventures, Alfa8, True North Institute
- Seed, Sep 20, 2024, $6.3M — Grantham Foundation, Nabors, Future Ventures, Underground Ventures

## Investors

- Grantham Foundation — Seed, Series A
- Nabors — Seed, Series A
- Future Ventures — Seed, Series A
- Underground Ventures (https://capitalatlas.ai/funds/underground-ventures) — Seed, Series A
- Centaurus Capital — Series A
- Susquehanna Growth Equity (https://capitalatlas.ai/funds/susquehanna-growth-equity) — Series A
- EXA Ventures — Series A
- Baruch Future Ventures — Series A
- Elemental Impact (https://capitalatlas.ai/funds/elemental-impact) — Series A
- New System Ventures (https://capitalatlas.ai/funds/new-system-ventures) — Series A
- Alfa8 — Series A
- True North Institute — Series A