Tekcapital Plc, the UK intellectual property investment group, has announced the formation of its fifth portfolio company Vesari Inc, a new U.S. incorporated company (Vesari.ai) set up to acquire, develop and commercialise generative AI intellectual property in the field of geothermal-powered hyperscale data centres.
Tekcapital's wholly owned subsidiary, Tekcapital Europe Ltd, has been granted a 51% equity interest in Vesari, with the balance of 49% held by Dr. Gross, executive chairman of Tekcapital.
Vesari's investment rationale is that access to reliable, scalable power is the principal constraint on AI infrastructure growth. Demand for AI compute continues to expand at a pace that is outstripping available power infrastructure and increasing the cost of electricity to consumers worldwide. US data centre power consumption has tripled since 2014 and is projected to reach up to 17% of total national electricity usage by 2030, while global data centre power demand is projected to increase by around 165% by 2030 compared with 2023 levels, according to Goldman Sachs Research.
Vesari is being established to address this bottleneck by co-locating hyperscale AI compute directly with geothermal power generation in a fully integrated, behind-the-meter configuration. The architecture is designed to operate independently of traditional grid infrastructure and to use low-Earth-orbit ("LEO") satellite connectivity in place of conventional terrestrial fibre networks.
If successfully developed, this model is expected to deliver 24/7 carbon-free baseload compute, while eliminating transmission constraints, reducing exposure to power price volatility and reducing the pressure on public electricity grids.
Subject to the submission to the United States Patent and Trademark Office, Vesari is expected to hold a portfolio of eleven patent applications which address core inefficiencies in the conversion of geothermal energy into scalable AI compute infrastructure.
Vesari's prototype architecture is designed as a closed-loop system integrating power generation, cooling, compute orchestration and commercial monetisation into a single operating framework. The hypothetical Geothermal AI Campus is a fully integrated, behind-the-meter architecture in which continuous geothermal heat is converted by turbine and ORC systems into 100 MW of carbon-free electrical power that directly feeds a hyperscale AI data centre. Waste heat from the compute core is captured by a closed-loop thermal recovery and cooling system estimated to deliver improved power utilization effectiveness (PUE).
The company believes the main advantage of Vesari's model lies not in any single efficiency gain in isolation, but in the interaction of these integrated systems, forming a reinforcing feedback loop between power, cooling, compute, pricing and power utilisation, and is expected to enhance energy efficiency, compute throughput and revenue quality.
Louis Castro, director of Tekcapital plc commented, "We are delighted to announce the formation of Vesari which has been created to address what we believe is becoming the defining constraint on the AI economy, not semiconductors, but power. By co-locating AI compute directly with geothermal power generation, behind the meter, and connecting it via LEO satellites, we believe, that if successful, Vesari can enable more efficient, 24/7 carbon-free compute capacity. This resource will largely be insulated from grid constraints, power price volatility and should not impact the cost of electricity to individuals, communities and municipalities."