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Bedrock Energy Raises $8.5M To Decarbonize Commercial Real Estate With Geothermal Energy

Oct 11, 2023•about 2 years ago

Amount Raised

$8.5 Million

AustinEnergy

Investors

Climate CapitalDivergent CapitalFirst Star VenturesToba CapitalCantosLong Journey VenturesOverture Climate VcWireframe Ventures

Description

Bedrock Energy, a technology startup that designs, constructs, and delivers geothermal heating and cooling systems, today announced $8.5M in seed capital. The financing round is led by Wireframe Ventures, with participation from Overture Climate VC, Long Journey Ventures, Cantos, Toba Capital, First Star Ventures, Divergent Capital, and Climate Capital. The funding will accelerate manufacturing and deployment of technologies that improve the economics of all-electric geothermal HVAC systems, thus helping real estate properties achieve Net Zero operations.

Company Information

Company

Bedrock Energy

Location

Austin, Texas, United States

About

Bedrock Energy is a startup transforming the heating and cooling of buildings, using geothermal energy to radically reduce costs for people and the environment. Bedrock designs, constructs, and delivers geothermal using novel drilling technologies that enable widespread, affordable, and accessible installations of carbon-free geothermal HVAC for urban real estate properties. This allows properties to reduce heating and cooling costs up to 50% and cut direct emissions to zero.

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Funding Insights

Based on industry data
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VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers