Naver has invested in Panthalassa, a US startup developing floating AI data centers powered by wave energy. The company is targeting a commercial launch in 2027, with a current valuation near $1 billion.
TL;DR
- Naver invests in Panthalassa, a startup developing wave-powered floating AI data centers.
- Panthalassa aims to launch commercially in 2027, with a current valuation of nearly $1 billion.
- The investment underscores Naver's push into sustainable AI infrastructure and renewable energy technologies.
What happened
Naver has invested in Panthalassa, a US startup based in Oregon, which is developing floating AI data centers that harness wave energy for power generation. The investment amount was not disclosed, but Panthalassa's recent funding round valued the company near the $1 billion mark. Panthalassa's technology integrates power generation, AI compute and processing, and cooling into a floating node platform, eliminating land acquisition costs and reducing energy consumption. The company has conducted at-sea demonstrations with wave energy platforms Ocean-1 and Ocean-2, with plans to deploy Ocean-3 this year for demonstration purposes.
Panthalassa's funding round in May was led by Peter Thiel, with participation from Marc Benioff, John Doerr, Supermicro, Hanwha Asset Management, and other global investors. Naver's investment comes as the company accelerates efforts to secure AI data center infrastructure and expand its focus on renewable energy-based data center technologies. Last month, Naver announced a $10 billion partnership with Brookfield and Nvidia to build a 200 MW National AI Factory in Sejong, further emphasizing its commitment to sustainable AI infrastructure.
Why it matters
This investment highlights Naver's strategic shift towards sustainable AI infrastructure, addressing the critical challenge of power demand for data centers driven by global AI proliferation. Panthalassa's wave-powered data centers offer an environmentally sustainable model, capable of continuous power production without separate power plants or fuel. The floating design eliminates land acquisition costs and uses seawater for server cooling, reducing energy consumption and operational expenses. The use of low-Earth-orbit satellite networks for data transmission ensures low latency and global communication without geographic constraints.
For developers and startups, Panthalassa's technology presents an innovative solution for sustainable AI data center operations, potentially reducing costs and environmental impact. Investors may see this as an opportunity to support and benefit from the growth of renewable energy-based AI infrastructure. The competitive angle lies in Naver's proactive investment in next-generation technologies, strengthening its position in the global AI infrastructure market. However, the success of Panthalassa's technology will depend on the scalability and reliability of wave energy platforms, as well as the market's acceptance of floating data centers.
Key facts
- Naver has invested in Panthalassa, a US startup developing floating AI data centers powered by wave energy.
- Panthalassa was founded in Oregon in 2016 by Garth Sheldon-Coulson and Brian Lee Moffat.
- The company's technology integrates power generation, AI compute and processing, and cooling into a floating node platform.
- Panthalassa has conducted at-sea demonstrations with Ocean-1 and Ocean-2 platforms, with Ocean-3 planned for deployment this year.
- The company aims to launch commercially in 2027, with a current valuation near $1 billion.
- Panthalassa's recent funding round was led by Peter Thiel, with participation from Marc Benioff, John Doerr, Supermicro, Hanwha Asset Management, and other global investors.
- Naver announced a $10 billion partnership with Brookfield and Nvidia to build a 200 MW National AI Factory in Sejong last month.
Context
The broader energy sector is also seeing significant investments in sustainable technologies. For instance, COSMOS Lab recently closed a $15.7 million Series A round to scale production of its non-flammable aqueous zinc-halogen battery technology. This underscores the growing trend of investing in renewable energy and sustainable infrastructure, driven by the increasing demand for environmentally friendly solutions in various industries, including AI.
Naver's investment in Panthalassa aligns with its strategic push into AI infrastructure and renewable energy technologies. As global AI proliferation drives surging power demand for data centers, securing electricity has emerged as a critical challenge. Panthalassa's wave-powered floating data centers offer a potential solution, addressing both the power demand and environmental impact of traditional data centers. The investment also highlights Naver's commitment to strengthening its competitiveness in the global AI infrastructure market through partnerships and investments in next-generation technologies.
