Panthalassa

Panthalassa is a United States renewable-energy technology company developing an ocean-based power and computing concept. Founded in 2016 and based in Portland, Oregon, the company is focused on converting wave motion into electricity through autonomous offshore devices known as nodes. Rather than transmitting electricity from the ocean to land, Panthalassa proposes placing computing equipment directly on or beneath the energy-generating platforms. The intended application is remote computing, particularly workloads associated with artificial-intelligence models. The company’s approach is designed to address several constraints that affect conventional data-center expansion. Subsea or near-subsea computing could use seawater as a source of cooling, while offshore deployment could reduce dependence on scarce land, local grid capacity, and large terrestrial power connections. Panthalassa’s concept also avoids the undersea transmission infrastructure that would be required if wave-generated electricity were sent to shore. In the proposed operating model, users would communicate with the offshore nodes through satellite connectivity, including SpaceX’s Starlink system. The resulting latency and the difficulty of physically servicing equipment at sea may make the system more suitable for longer-running computational jobs than for highly interactive applications such as consumer search or chatbot services. The company’s wave-energy node is built around a buoyant spherical upper section and a long tubular structure extending below the waterline. As the device rises and falls with ocean waves, water is driven through the internal tube and passes through turbines, producing electricity. The design is intended to use relatively few moving parts. Nodes are planned to operate without conventional mooring systems, using a self-contained propulsion and steering arrangement that allows them to maneuver in the open ocean without relying on fuel-powered engines. Chief executive and co-founder Garth Sheldon-Coulson has compared the basic idea to a very large autonomous cleaning robot, emphasizing the platform’s ability to move and position itself rather than remain permanently anchored. Panthalassa has tested successive prototypes, including Ocean-1, Ocean-2, and Wavehopper. Ocean-1 was tested in the Strait of Juan de Fuca in 2021, followed by Ocean-2 testing in the same wider region in 2024. A further Ocean-2 trial in Puget Sound in 2025 reportedly produced as much as 50 kilowatts under favorable wave conditions. Ocean-2 is described as having a spherical upper section approximately 30 feet in diameter mounted above a tubular hull roughly 200 feet long. The company has identified larger Ocean-3 and Ocean-4 systems as future development steps. Panthalassa previously explored using groups of ocean nodes to produce hydrogen, but its more recent direction centers on pairing wave generation with offshore artificial-intelligence computing. In May 2026, the company announced a reported $140 million Series B financing round led by Peter Thiel and joined by other investors. At that point, Panthalassa said it expected to deploy a pilot-series Ocean-3 later in 2026 and begin commercial deployments in 2027, with a longer-term ambition to operate thousands of nodes in the open ocean. These plans remain dependent on engineering validation, communications reliability, offshore maintenance, regulatory approvals, environmental considerations, and the economics of operating data-processing equipment in remote marine environments.

Panthalassa was established in 2016 as a company focused on extracting useful energy from ocean waves. Its development program has centered on deep-water devices that can operate away from shore and convert the repeated vertical motion of waves into electricity. The company’s early work included several prototypes, among them Ocean-1, Ocean-2, and Wavehopper, allowing it to test different dimensions, hull arrangements, energy-conversion systems, and operating assumptions. The company initially considered a model in which multiple ocean devices could produce hydrogen. Its later strategy shifted toward using the electricity at sea to power computing equipment. This change reflects Panthalassa’s view that offshore power generation can be more valuable when paired directly with an electricity-intensive load rather than delivered to land through costly transmission infrastructure. The revised concept places computing hardware in hermetically sealed containers below the sea surface, where the surrounding water can help remove heat from the chips. Ocean-1 was tested in the Strait of Juan de Fuca in 2021. Panthalassa subsequently tested Ocean-2 in the same general marine region in 2024. Ocean-2 is substantially larger than the earlier prototype, with a spherical upper section approximately 30 feet in diameter and a tubular hull around 200 feet long. During a 2025 test in Puget Sound, the device reportedly generated up to 50 kilowatts under suitable wave conditions. These tests were intended to demonstrate the feasibility of the mechanical configuration and the company’s electricity-generation approach. The proposed node uses a buoyant sphere above a long submerged tube. Wave-driven vertical movement forces seawater through the tube and across turbines as the water circulates through the device. The design is described as having relatively few moving parts. Rather than being permanently moored, the nodes are intended to include autonomous propulsion and steering capabilities. Their hull shape is expected to assist movement and positioning without a conventional engine or fuel supply. This operating model is intended to support deployment in the open ocean, although it also introduces challenges involving navigation, weather, maintenance, communications, and regulatory oversight. Panthalassa’s proposed computing architecture would place artificial-intelligence processing equipment in sealed subsea containers. Satellite links, including Starlink, are intended to carry user requests and results between land-based users and the remote nodes. The company’s approach could reduce the land, grid, and cooling requirements associated with building additional terrestrial data centers. At the same time, satellite latency may restrict the platform to workloads that can tolerate slower communication, while the absence of on-site personnel could make hardware faults and physical interventions difficult to resolve. The company has identified Ocean-3 and Ocean-4 as larger future systems. In 2026, Panthalassa said that construction of Ocean-3 was well advanced and that it intended to deploy a pilot-series unit later that year, followed by commercial deployments in 2027. Its long-term vision involves deploying thousands of nodes in the open ocean. In May 2026, Panthalassa also announced a reported $140 million Series B financing round led by Peter Thiel. The financing and planned prototype deployment marked a transition from laboratory and regional testing toward a proposed commercial-scale platform. The feasibility of that expansion remains dependent on reliable wave-energy production, autonomous marine operation, subsea computing durability, satellite communications, environmental and maritime approvals, and a commercially viable cost structure.

• 2026

  Series B financing announced

  [1]Panthalassa (company)en.wikipedia.org

  Panthalassa announced a reported $140 million Series B round led by Peter Thiel.

• 2026

  Ocean-3 pilot targeted

  [1]Panthalassa (company)en.wikipedia.org

  The company said it planned to deploy a pilot-series Ocean-3 device later in the year.

• 2025

  Ocean-2 produces up to 50 kilowatts in testing

  [1]Panthalassa (company)en.wikipedia.org

  A Puget Sound test reportedly recorded output of up to 50 kilowatts in decent wave conditions.

• 2024

  Ocean-2 undergoes regional testing

  [1]Panthalassa (company)en.wikipedia.org

  Panthalassa tested the larger Ocean-2 device in the Strait of Juan de Fuca region.

• 2021

  Ocean-1 tested in the Strait of Juan de Fuca

  [1]Panthalassa (company)en.wikipedia.org

  The company tested its smaller Ocean-1 prototype in the Strait of Juan de Fuca.

• 2016

  Company founded

  [1]Panthalassa (company)en.wikipedia.org

  Panthalassa was founded in the United States to develop ocean-based renewable-energy technology.

• Commercial deployments planned

  [1]Panthalassa (company)en.wikipedia.org

  Panthalassa identified 2027 as the target year for initial commercial node deployments.

Panthalassa positions itself at the intersection of wave energy, autonomous ocean engineering, and distributed computing. Its differentiating proposition is to consume generated electricity offshore, using the surrounding ocean for cooling, instead of transmitting power to shore. The company targets a future in which remote ocean nodes could expand computing capacity while reducing terrestrial land and grid constraints.

• Wave-energy prototype · 2021

  Ocean-1

  Ocean-1 was an early Panthalassa prototype used to test the company’s approach to capturing wave motion and converting it into electricity. It was tested in the Strait of Juan de Fuca in 2021 and preceded the larger Ocean-2 platform.

• Wave-energy prototype · 2024

  Ocean-2

  Ocean-2 is a large experimental node consisting of a buoyant spherical upper section and a long tubular hull extending beneath the waves. Wave-induced movement drives seawater through internal turbines. The device was tested in 2024 and 2025, with reported output reaching up to 50 kilowatts in favorable Puget Sound conditions.

• Pilot wave-energy and computing node · 2026

  Ocean-3

  Ocean-3 is the planned next-generation Panthalassa node intended to move the company toward pilot-scale operation. The company has described it as a larger system for deep-water deployment and has linked the platform to its plan to power remote computing equipment directly offshore.

• Future wave-energy node

  Ocean-4

  Ocean-4 is a future larger-scale device identified in Panthalassa’s development roadmap. Publicly available material provides limited technical detail, but it is intended to follow the Ocean-3 pilot in the company’s progression toward commercial ocean-node deployment.

• Wave-energy prototype

  Wavehopper

  Wavehopper is one of the prototypes associated with Panthalassa’s development history. It formed part of the company’s experimentation with wave-powered marine platforms before the proposed Ocean-series systems.

• 2026

  Plan for pilot and commercial Ocean-node deploymentsStrategy

  Background

  After testing Ocean-1 and Ocean-2, Panthalassa described a path toward larger autonomous open-ocean systems.

  Action taken

  The company planned to deploy a pilot-series Ocean-3 in 2026, target commercial deployments in 2027, and eventually operate thousands of nodes.

  Aftermath

  The plan represents a proposed move from prototype validation to commercial-scale deployment, subject to engineering, regulatory, environmental, and economic feasibility.

  Source

• 2026

  Series B financingOther

  Background

  Panthalassa announced financing to support its ocean-energy and remote-computing development program.

  Action taken

  The company announced a reported $140 million Series B round led by Peter Thiel.

  Aftermath

  The financing was intended to support continued prototype development and the planned Ocean-3 pilot, although the company remained privately held.

  Series B financing. $140 million announced (May 2026)

  Source

• Shift from offshore hydrogen toward direct-powered computingStrategy

  Background

  Panthalassa previously considered using groups of ocean nodes to produce hydrogen. The company later emphasized using wave-generated electricity directly for remote computing platforms.

  Action taken

  The proposed system places computing hardware in sealed subsea containers and uses the ocean both as the energy environment and as a cooling medium, avoiding the need to transmit generated electricity to shore.

  Aftermath

  The revised strategy differentiates Panthalassa from wave-energy projects focused on exporting electricity, but introduces challenges involving satellite latency, remote maintenance, and data-center reliability.

  Source

1. 1Panthalassa (company)en.wikipedia.org
2. 2Panthalassa official websitepanthalassa.com