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Modern mining firm leveraging technology for operations.
Hades Mining has raised $23.9M across 2 funding rounds.
Hades Mining has raised $23.9M in total across 2 funding rounds.
Hades Mining is valued at approximately $804K.
Hades is a modern mining company that thinks technology first, focusing on sustainable and responsible mining practices while unlocking geothermal energy and critical minerals.
Hades Mining has raised $23.9M in total across 2 funding rounds.
Hades Mining is valued at approximately $804K.
Hades Mining's investors include Headline, HV Capital, Founderlake, Founders Factory, Interface Capital, Project A Ventures, Viessmann Generations Group, Visionaries Tomorrow, Project A, Chris O'Connor, Daniel Wiegand, Dr. Nicolas Burkardt.
Hades Mining is a Munich-based deep-tech startup founded in 2025 that develops advanced drilling and subsurface access technologies to extract geothermal energy and critical minerals from ultra-deep rock formations.[1][2][3] The company employs in-situ recovery (ISR) techniques—circulating fluids through rock to recover minerals without open-pit excavation—and targets stable, high-temperature geothermal reservoirs for sustainable baseload energy, serving Europe's needs in electric vehicles (EVs), renewable energy, semiconductors, and district heating.[1][2][3] With €5.5 million raised in a pre-seed round led by Project A, Hades operates a vertically integrated model across the full project lifecycle—from site preparation and licensing to production—aiming to provide independent access to essential raw materials and energy while minimizing environmental impact.[1][2][3] Early momentum includes emerging from stealth, securing funding from VCs like Visionaries Tomorrow and Founders Factory, plus angels from aerospace and energy, to accelerate technology development and prepare initial project sites.[1][3]
Hades Mining was founded in 2025 by serial deep-tech entrepreneurs Dr. Max Werner (CEO, with a military background), Björn Dressler (CTO, former COO at Isar Aerospace), and Dan Gengenbach (SVP Material Displacement, former VP at Marvel Fusion and applied physicist), addressing the limitations of conventional drilling that leave deep geothermal reservoirs and mineral deposits inaccessible.[2][3] The idea emerged from the need to unlock resources kilometers beneath the surface in geologically challenging settings, combining geology, engineering, and proprietary tech for ultra-deep extraction.[2][4] A pivotal moment came with their €5.5M pre-seed raise in August 2025, led by Project A (with its €325M fund for early-stage European startups), enabling them to exit stealth and lay groundwork for Europe's first vertically integrated, tech-enabled mining operations.[1][2][3]
Hades Mining stands out through these key strengths:
Hades Mining rides the wave of Europe's energy transition and critical minerals shortage, where demand for baseload geothermal power and raw materials for EVs, semiconductors, and renewables outstrips supply amid geopolitical tensions and import dependencies.[2][3][4] Timing is ideal post-2025, with EU policies pushing industrial resilience and the Critical Raw Materials Act favoring sustainable domestic extraction; Hades' ISR and deep-drilling tech overcomes technical barriers to ultra-deep resources, enabling baseload energy at scale.[1][2] Market forces like rising energy prices, net-zero goals, and off-planet mining horizons (their long-term roadmap) amplify this, as Hades influences the ecosystem by pioneering responsible mining that learns from historical environmental pitfalls while building subsurface sovereignty—potentially reshaping Europe's underground economy.[4]
Hades Mining is poised to scale its first operational projects with pre-seed funds, targeting site exploration and tech pilots to prove ultra-deep extraction viability.[1][3] Trends like AI-optimized drilling, EU green subsidies, and asteroid mining tech will shape their path, evolving their influence from European energy pioneer to global deep-tech leader in subsurface and extraterrestrial resources.[4] As Dr. Max Werner notes, this unlocks "energy abundance and global resilience," tying back to their mission of sovereignty beginning subsurface—positioning Hades as a cornerstone for sustainable progress.[2][4]
Hades Mining has raised $23.9M across 2 funding rounds. Most recently, it raised $17.9M Seed in February 2026 at a valuation of approximately $804K.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Feb 11, 2026 | $17.9M Seed | Headline, HV Capital | Founderlake, Founders Factory, Interface Capital, Project A Ventures, Viessmann Generations Group, Visionaries Tomorrow |
| Aug 1, 2025 | $6.0M Seed | Project A | Chris O'Connor, Daniel Wiegand, Dr. Nicolas Burkardt, Florian Seibel, Hélène Huby, Jack Kennedy, Moritz von der Linden, Roman Hölzl, Founders Factory, Anna Stella Wahl (Fetha) |