Prime highlights:
Bedrock Energy, a geothermal HVAC startup, raised $12 million to expand its team and scale operations.
The company has developed advanced geothermal system designs and automated boring techniques to efficiently tap underground energy for heating and cooling.
Bedrock is currently working on projects in Colorado and Utah, including a completed installation in Morgan County, Utah, and an ongoing project in Hayden, Colorado.
Key Background:
Austin-based geothermal HVAC startup, Bedrock Energy Inc., has raised $12 million in a Series A funding round to enhance its innovative heating and cooling technology. Founded by Joselyn Lai, the company is focused on harnessing underground energy through geothermal heat pumps, a more sustainable and efficient alternative to traditional HVAC systems.
Despite the challenges of tapping into subterranean energy, Bedrock Energy has developed groundbreaking technologies that streamline the design of geothermal systems. Additionally, the company has pioneered automated boring techniques, enabling them to reach the necessary depths to access stable temperatures essential for the technology to function effectively.
The Series A round, announced on January 22, 2025, was led by San Francisco’s Titanium Ventures, with participation from Energy Impact Partners, Sustainable Future Ventures, and earlier investors. This funding builds upon the $8.5 million seed round secured by the company in 2023.
The new capital will allow Bedrock Energy to expand its team and accelerate its growth, including ongoing projects in Colorado and Utah. In Utah, the company recently completed a geothermal installation in Morgan County, while in Colorado, Bedrock is working on a project at a business park in Hayden, with support from the Colorado Energy Office and local government.
Lai emphasized the potential impact of geothermal HVAC systems, stating, “Heating and cooling buildings is the largest energy expense in real estate, and geothermal HVAC can cut that energy bill in half, improve resilience, and reduce air pollutants for residents by 90%.” She added that Bedrock’s innovations have made geothermal installations more affordable, offering real estate developers and owners the opportunity to achieve significant financial returns and increase property values simply through the choice of HVAC system. With this new funding, Bedrock Energy is poised to drive the widespread adoption of geothermal HVAC technology across the United States.