Bedrock Energy raised $12 million in Series A funding to scale up the company’s geothermal heating and cooling technologies and advance deployment in Colorado, Utah and neighboring states, the geothermal startup announced Jan. 22.

Energy Impact Partners and Sustainable Future Ventures joined the Titanium Ventures-led fund alongside existing investors Wireframe Ventures, Overture Ventures, Toba Capital, Elemental Impact, First Star Ventures and Cantos.

Bedrock is developing its geothermal technology to heat and cool buildings, ranging from commercial buildings to connected district systems, at a lower cost. Tech designs include subsurface simulation capabilities and an intelligent construction platform for geothermal borefield construction, allowing geothermal heat pumps to be installed faster, cheaper and more accurately.

“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%,” said Bedrock’s Co-founder and CEO Joselyn Lai. “Bedrock’s innovations make geothermal installations so affordable that real estate developers and owners across the US can generate a strong financial return and boost their property values, with just their HVAC choice.”

Geothermal is a carbon-free energy source with the capability of being an available energy source 24/7. Greater adoption would offset emissions and lessen stress on power grids.

Bedrock is planning to deploy its geothermal systems in 2025 to build on recently completed projects in Morgan County, Utah and Hayden, Colorado. 

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