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Zanskar has raised $115 million in a Series C funding round, bringing total equity funding to $180 million. The company aims to develop overlooked geothermal fields in Nevada using AI technology to identify potential energy sources.

Led by Spring Lane Capital, the funding will support Zanskar’s plans to construct several geothermal power plants before 2030, contributing to the growing demand for clean electricity. Zanskar has successfully revitalized a geothermal plant in New Mexico and discovered a new field, 'Big Blind,' in Esmeralda County, with a heat reservoir of approximately 250 degrees Fahrenheit. The company plans to deliver electricity at a levelized cost of under $45 per megawatt-hour by the end of the decade, making geothermal a competitive energy source.