Private Investment Office
Est. MMXXVI
The Relationship
The massive, widespread adoption of AI and the exorbitant energy consumption that has come with its growth have led investors to speculate on what the next alternative energy source may be. Panthalassa came to AG in 2026 and showed the ability to fix three key issues with the current model: the energy required for compute, the space to build and operate data centres, and cooling these machines efficiently. The Ocean-3 node is aimed at solving all three: a fully autonomous floating unit that generates its own electricity from ocean waves, cools its system with cold, abundant seawater, and houses an onboard data centre. Panthalassa as a whole sits at that rare intersection of an innovative idea and brilliant technology.
Behind it is Garth Sheldon-Coulson, its CEO, who co-founded it with Brian Moffat. The Portland, Oregon team has spent the last decade refining the design, putting earlier prototypes to sea in 2021 and 2024. In May, Peter Thiel headed a $140 million round that brought total funding to $210 million. That money is paying for a factory near its home city to mass-produce the nodes from plate steel, with commercial deployments set to begin in 2027.
People
Trained in law at Harvard and engineering at MIT, then worked as a senior investment associate at Bridgewater Associates. Co-founded Panthalassa in 2016 and now leads it as chief executive.
Spent a decade in ocean energy research, developing a wave energy system at Spindrift Energy. Co-founded Panthalassa in 2016 and now serves as its chief innovation officer.
Co-founded PayPal and Palantir, became Facebook's first outside investor and set up the venture firm Founders Fund. Led Panthalassa's $140 million round in 2026.
Trained in law at Harvard and engineering at MIT, then worked as a senior investment associate at Bridgewater Associates. Co-founded Panthalassa in 2016 and now leads it as chief executive.
Spent a decade in ocean energy research, developing a wave energy system at Spindrift Energy. Co-founded Panthalassa in 2016 and now serves as its chief innovation officer.
Co-founded PayPal and Palantir, became Facebook's first outside investor and set up the venture firm Founders Fund. Led Panthalassa's $140 million round in 2026.
