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Alternative Assets  + Real Assets  + Real Estate  + VC  |  October 12, 2023
Bedrock Energy Raises $8.5M to Decarbonize CRE
Joe Palmisano
By: Joe Palmisano

Bedrock Energy Raises $8.5M to Decarbonize CRE

Bedrock Energy, a tech startup that designs, constructs, and delivers geothermal heating and cooling systems, announced $8.5 million in seed capital led by Wireframe Ventures, with participation from Overture Climate VC, and Long Journey Ventures, among others.

The funding will be used to accelerate manufacturing and deployment of technologies that improve the economics of all-electric geothermal HVAC systems, helping real estate properties achieve net zero operations.

Bedrock Energy is developing a technology stack that combines autonomous drilling and advanced subsurface modeling. The approach triples the speed and space-efficiency of geothermal projects, according to the company, making it possible to install geothermal HVAC systems in dense, urban locations.

The technology includes sensors that validate real-time construction accuracy, allowing real estate properties to decarbonize with double-digit internal rates of return and payback periods of under five years.

“A huge swath of commercial and industrial real estate can now benefit economically from carbon-free geothermal HVAC due to Bedrock’s unparalleled speed, cost, compactness, and reliability—making adoption a logical business and sustainability decision,” said Joselyn Lai, co-founder and CEO of Bedrock Energy.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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