Bedrock Energy
Bedrock Energy is a San Francisco-based climate tech company on a mission to transform building heating and cooling by making distributed geothermal HVAC systems affordable, scalable, and accessible for commercial real estate. The company designs and constructs geothermal borehole field systems that tap into the earth's stable subsurface thermal energy using ground-source heat pumps - delivering up to 80% of a building's heating and cooling needs from free thermal energy directly beneath a property. Geothermal heat pumps are the most efficient HVAC technology available, typically saving building owners more than 50% on annual energy and maintenance costs versus conventional systems, while eliminating rooftop cooling towers, noisy condensers, refrigerant piping, and indoor air pollution.
Bedrock's core innovation lies in its proprietary hardware-software technology stack that breaks down the traditional barriers to geothermal adoption: cost, construction time, and land footprint. The company's intelligent drilling platform - adapted from advanced oil-and-gas upstream drilling technologies - enables borehole construction up to 5x faster than conventional methods, can drill to depths of 1,000-2,000 feet, and reduces surface land requirements by over 60%. Complementing the hardware is a suite of powerful data algorithms that model subsurface conditions and optimize borehole field designs without requiring expensive thermal tests, giving developers guaranteed, predictable long-term performance. The company offers an end-to-end service covering geo loop field design, drilling, MEP design, energy financing, and construction management. Their first commercial deployment - a retrofit of an urban office building for CIM Group in Austin, Texas - demonstrated the technology's viability in dense city environments.
Bedrock Energy matters significantly to the US energy supply chain as a key enabler of building decarbonization at scale. Heating and cooling account for roughly 50% of commercial building energy consumption, most of it still powered by fossil fuels. By driving down geothermal installation costs and targeting an eventual 80% cost reduction to make it competitive with natural gas, Bedrock aims to make geothermal a mainstream building energy category - analogous to what cost reductions did for solar over the past two decades. With projects expanding across Texas and the Mountain West and a growing pipeline of commercial real estate partners, the company is laying the groundwork for a distributed geothermal infrastructure that could help millions of US commercial buildings electrify and decarbonize their HVAC without relying on an already-strained electric grid.
Funding
Bedrock has raised over $20M in total venture funding. This includes a $9M seed round (referenced mid-2024) and a $12M Series A in late 2024. The company has also secured additional equipment financing for drilling rigs outside of venture capital. Investors include Titanium Ventures, Energy Impact Partners, Wireframe VC, Overture, Long Journey Ventures, Cantos Ventures, Elemental Impact, SF New Deal, FirstStar VC, and Toba Capital.
Investors
- Titanium Ventures
- Energy Impact Partners
- Wireframe VC
- Overture
- Long Journey Ventures
- Cantos Ventures
- Elemental Impact
- FirstStar VC
- Toba Capital
- SF New Deal (SFV.vc)
Key People
- Joselyn Lai, Co-founder & CEO
- Silviu Livescu, Co-founder & CTO
- Joel Wishkovsky, Co-founder (Advisor)
- Bryan Lang, Solutions Engineering Lead
- Julia Ni, Product Strategy Lead
News
- Bedrock Energy: Interview With Co-Founder & CEO Joselyn Lai About The Geothermal Company
- A Geothermal Network in Colorado Could Help a Rural Town Diversify Its Economy
- Joselyn Lai, CEO & Co-Founder of Bedrock Energy: $9 Million Raised to Power the Future of Geothermal Energy
- America's Top GreenTech Companies 2024
- Introducing GreenBiz's Climate Tech Startup of the Year