Munich-based deep-tech startup Hades Mining has secured €5.5 million in a pre-seed funding round to develop advanced drilling systems aimed at accessing ultra-deep geothermal energy and critical mineral deposits across Europe.

The company focuses on projects that enhance Europe's energy independence and supply chain resilience, supporting sectors like electric vehicles, renewable energy, semiconductors, and district heating.

Industry experts and partners see Hades' innovative approach as a breakthrough in economically accessing superdeep reservoirs, transforming deep tech into a strategic asset for Europe's economic and energy security.

Hades' vertically integrated model allows it to manage the full project lifecycle from licensing to production, enabling faster timelines, cost reductions, and increased transparency and sustainability.

The funding round was highly oversubscribed, with participation from Visionaries Club, Founders Factory, and angel investors including founders from Quantum Systems, RobCo, and Lilium, with most funds allocated to technology development and exploration.

The founding team includes industry veterans like Björn Dressler, and the company plans to grow from 5 to 20 employees within a year, initially focusing on technology development before moving to project implementation.

Hades' name references the Greek god of the underworld, symbolizing mining and resource independence, with positive connotations linked to the industry’s heritage.

Many mineral deposits and geothermal reservoirs are located at extreme depths or in challenging geological settings, requiring new technological solutions to access them.

Hades aims to reduce Europe's dependency on external sources for over 90% of critical minerals and more than half of its energy, aligning with EU policies like the Critical Mineral Act and Germany’s geothermal initiatives.

The company's proprietary in-situ recovery (ISR) technology circulates fluids to tap into deep geothermal reservoirs and mineral deposits while minimizing environmental impact, avoiding traditional open-pit methods.

Hades plans to generate revenue by selling geothermal energy locally and critical minerals to industry or exchanges like the London Metal Exchange, with permits for its first geothermal drilling project expected next year.