Bedrock Energy Raises $12 Million For Geothermal HVAC

Texas-based geothermal technology firm Bedrock Energy raised $12M in Series A funding to scale carbon-free HVAC for buildings

Bedrock Energy, a company that is literally digging a hole to tap into earth's geothermal heat, announced it closed a Series A round of $12 million in funding. The company, based in Texas, will use the funds to advance and expand its innovative geothermal heating, ventilation and air conditioning systems, a carbon-free low-cost solution for buildings. The company is determined to change the HVAC industry, which remains one of the largest sources of greenhouse gas (GHG) emissions globally, as the heating and cooling needs of any building.

Buildings emit about 15% of the total carbon emissions globally, with heating and cooling accounting for roughly 35% in total. Keeping that in mind, Bedrock Energy is on a mission to take down one of the biggest and most challenging sources of emissions. Buildings are usually very difficult to retrofit with new, environmentally friendly technologies because of their long-term natures. This means that the majority of energy costs and air pollution is caused by traditional heating and cooling systems, which primarily rely on fossil fuels.

Bedrock Energy was established in 2022 and specializes in geothermal design and installation technology that allows building heating and cooling using geothermal energy. The company's solution combines autonomous drilling with advanced subsurface modeling to speed up and reduce the space required for geothermal installations. Such innovations make it possible to install geothermal systems in dense, urban areas, such as previously unimaginable with space and time constraints. Bedrock's geothermal HVAC systems have scalable design, from single-structure commercial buildings up to connected district systems that cover multiple lots. This flexibility allows the company's technology to deliver 24/7 carbon-free energy and still offer substantial cost savings.

According to Joselyn Lai, co-founder and CEO of Bedrock Energy, the financial benefit of geothermal HVAC systems in the company. She explained that heating and cooling are the largest energy expenses in real estate. Switching to geothermal systems will cut energy bills in half. Beside saving money, the systems benefit the environment and health factors due to a 90% reduction of air pollutants, increased resilience, and reduced carbon emissions. According to Lai, the geothermal systems installed at Bedrock are inexpensive, offering more advantages for the developers and owners of real estates. With these systems, developers are sure of getting a clear return on investment while enhancing the property value through sustainable and cost-effective HVAC solutions.

The newly raised capital will be used to support Bedrock's on-going R&D efforts as well as expand deployments among customers. According to plans, the company will take its technology further by expanding its systems in Colorado, Utah, and other Mountain West states during 2025. The investment is also bound to propel the company's efforts towards making geothermal HVAC much easier and available for everyone across America.

The Series A funding round was led by Titanium Ventures, with notable participation from Energy Impact Partners, Sustainable Future Ventures, and existing investors such as Wireframe Ventures, Overture Ventures, Toba Capital, Elemental Impact, First Star Ventures, and Cantos. This diverse group of investors shows the interest in sustainable energy solutions, especially those that promise to reduce the carbon footprint of the built environment.

Mark Sherman, Managing Partner at Titanium Ventures, said he was confident that Bedrock Energy would revolutionize the HVAC industry. He pointed out that geothermal energy holds incredible promise as a reliable, carbon-free source of energy that can provide power and heating/cooling 24/7. Sherman also acknowledged Bedrock's unique technological innovations, which he believes will significantly lower the costs of geothermal heating and cooling systems, thereby making them more accessible to a broader range of customers. He added that the company's efforts could eventually change the economic landscape of the geothermal HVAC industry, forcing a shift toward more sustainable and cost-efficient building solutions.

In conclusion, Bedrock Energy's innovation technology puts it at the top of the wave in the movement toward sustainable construction. By heating and cooling the buildings, which is an energy-intensive challenge, Bedrock has been able to reduce the environment impact of the real estate but also offer large financial benefits. As the company continues to scale its technology and expand its presence, it will be in a position to shape the future of the HVAC industry and contribute to global efforts in combating climate change. With the recent funding success, Bedrock Energy is poised to meet the growing demand for environmentally friendly, cost-efficient building solutions in the coming years.