The funding will support continued advancement of Bedrock’s technologies, as well as expanded deployment in Colorado, Utah, and neighboring states.
According to co-founder and CEO Joselyn Lai 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%
“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,” Lai said.
“We’re grateful that our investors share our conviction about unlocking geothermal for widespread scale, and humbled that they consider Bedrock to be the right team for the challenge.” she said.
Bedrock Energy has pioneered geothermal design and installation technologies, including advanced subsurface thermal simulation capabilities and an intelligent construction platform for geothermal borefield construction.
The company’s deployment teams use these innovations to install geothermal heat pump systems for real estate owners, at faster schedule, higher accuracy and performance, and stronger cost efficiencies.
Systems can range from single-structure commercial buildings to connected district systems serving multiple lots.
By unlocking scalable geothermal heating and cooling as a resilient, always-on category of distributed clean energy, Bedrock aims to save billions of dollars for both property owners and utilities alike.
“Geothermal energy has incredible promise as an always on, 24/7 carbon free source of power and heating and cooling,” said Mark Sherman, Managing Partner for Titanium Ventures.
We believe that Bedrock Energy has developed several unique, integrated technologies that will dramatically open up the market for cost efficient geothermal heating and cooling of buildings and change the economics of this industry,” he said.
In addition to energy savings, geothermal heating and cooling has an unparalleled impact on moderating power demand in extreme temperatures, bringing immense value to customers, utilities, and regulators.
“With lighthouse expertise from the oil and gas sector, highlighted by co-founder and CTO Silviu Livescu’s experience as the Chief Scientist of Pressure Pumping at Baker Hughes, Bedrock is poised for significant growth,” said Albert Bielinko, Titanium Ventures Alumnus.
According to Oak Ridge National Laboratory, adoption of geothermal heat pumps in 70% of U.S. buildings could avoid seven gigatons of carbon-equivalent emissions by 2050 and save 24,500 miles of transmission line construction by offsetting needs from the power grid.
“Amid the economy-wide trends of electrification across industries, reducing demand will only grow more critical in the years ahead,” said Jenny Gao at Energy Impact Partners.
“We need to electrify quickly, yet deliberately; Bedrock exemplifies this approach as well as any company we’ve seen.” she said.
In 2025, Bedrock plans to deploy new geothermal systems across Colorado, Utah, and other Mountain West states.
The expansion builds upon the company’s recently completed project in Morgan County, Utah, and ongoing work on a district geothermal system coming online in 2025 for a new business park in Hayden, Colorado.
The latter project is supported by the Colorado Energy Office, Colorado Department of Local Affairs, Northwest Colorado Business District, and Town of Hayden.
“Bedrock has been an excellent partner in the design and planning of our geothermal system,” said Mathew Mendisco, Town Manager of Hayden
“We are excited to leverage their drilling innovations to help us supply resilient geothermal heating & cooling energy for a flagship economic development project in a coal transition community,” .
“Tapping into renewable subsurface energy right on-site is key to expediting construction timelines, lowering energy costs, and creating resiliency in mountainous regions like ours,”
“Geothermal may be a valuable driver of successful coal transition, and Bedrock will be a key company in making that a reality in Northwest Colorado.” Mendisco said.
About Bedrock Energy
Bedrock Energy is revolutionising building heating and cooling with cost-effective geothermal technology, cutting energy costs by up to 50% and eliminating direct emissions.
About Titanium Ventures
Titanium Ventures accelerates growth for disruptive companies, with 44 exits from 104 investments, including DocuSign, GitLab, and CrowdStrike. Its portfolio spans the U.S., Australia, Asia, and the UK.
