Hades emerges with ‘superheated’ drill to tap Europe’s underground energy and minerals

Europe could power its entire economy using heat from Earth’s core – in theory.

Harnessing geothermal energy is currently prohibitively expensive across most of the continent, save for a few places where water boils close to the surface, such as parts of Iceland or Italy.

That’s largely why geothermal only supplied 0.2% of Europe’s electricity and 0.7% of its heat in 2024 – a minuscule amount compared to wind and solar (18% and 10%, respectively).

Hades, named after the Greek god of the underworld, believes a new drilling technology could make geothermal more competitive – and make it easier to mine mineral crucial to Europe's green transition.

Drilling with lasers?

Max Werner, Hades’ co-founder and CEO, tells Impact Loop that details about the company's drilling tech are “strictly confidential” – nevertheless, we deciphered some clues.

The founder says the drilling technology is “non-contact“ and “superheated,” indicating some kind of microwave or laser-based setup. He also name-dropped a potential competitor.

“One of the most famous [drills] out there I could say is probably Quaise Energy, which uses super-powered microwaves to break through rock,” he says, in reference to the MIT-spinout founded in 2018. “That is a good solution, don't get me wrong, but the problem is it doesn't work for hard rock.”

Fusion inspired?

Another clue to Hades’ secretive drilling technology may lie in its founding team.

Werner, a serial defence tech entrepreneur, founded Hades alongside Björn Dressler, former COO at Isar Aerospace, and Dan Gengenbach, a laser physicist and former VP at Marvel Fusion – a Munich-based startup using ultra-powerful lasers to spark fusion reactions.

Marvel Fusion’s co-founder and CEO, Moritz von der Linden, and CFO, Nicolas Burkardt, were also angels investors in Hades’ pre-seed round.

The connection suggests Hades’ so-called “disruptive step” beyond conventional drills may involve high-powered lasers that could, theoretically, fracture, melt, or vaporise tough rock formations.

If that hunch proves correct, Hades is adapting fusion-grade laser physics to drilling, a move that could crack open both Europe’s geothermal and critical minerals markets.

Early tests

Werner says early tests show its “non-contact, superheated” approach could make drilling 5-10 times faster. That would make geothermal projects a lot more viable in an industry where drilling can account for up to 50% of the upfront development costs.

However, these figures are based on lab data. Field results will be decisive. 

Major backing

Hades’ pre-seed round was led by Berlin-based VC Project A, with participation from Visionaries Tomorrow and Founders Factory, a venture fund backed by mining giant Rio Tinto.

Several prominent angels also chipped in.

Joining Von der Linden and Burkardt are Hélène Huby, founder of spacetech startup The Exploration Company; Daniel Wiegand, co-founder of (now insolvent) flying taxi firm Lilium; Florian Seibel, CEO and co-founder of drone unicorn Quantum Systems; and Roman Hölzl, co-founder and CEO at robotics company RobCo.

The €5.5m will fund R&D and site exploration, with the first pilot project expected to be revealed early next year, with the location most likely in Germany.

Hades is currently hiring for around ten new roles, with more to follow. It also hopes to secure another, larger funding round soon, says Werner.

Geothermal first, mining next

Hades’ immediate focus is geothermal, betting that lower drilling costs could make the technology competitive without government subsidies. The company also plans to extract critical minerals such as graphite, lithium, cobalt – crucial elements in everything from EVs to wind turbines. 

Rather than licensing its tools, Hades will operate projects end-to-end, retaining stakes in the energy and minerals produced.

The model is ambitious – and risky. Mining in Europe faces political resistance, permitting hurdles, and a legacy of public distrust. Rio Tinto’s indirect involvement adds both credibility and baggage, given its poor record of environmental compliance.

Werner insists Hades will operate with “transparency” and plans to use less invasive mining techniques. He also argues that Europe must start mining if it wants to bolster its own sovereignty. The continent sources over 90% of its critical minerals from beyond its borders.

Pictured, front row: Hades founders Björn Dressler (left), Max Werner (centre), and Dan Gengenbach. Backrow: Hélène Huby (The Exploration Company), Moritz von der Linden (Marvel Fusion), Florian Seibel (Quantum Systems), Daniel Wiegand (Lilium), and Roman Hölzl (RobCo).