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, thu

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 ...

cameraImage Credits: Yongyuan Dai / Getty ImagesClimate tech is in a place where it needs all the help it can get. Fortunately, there’s a lot of untapped expertise in the oil and gas sector.Case in point: Silviu Livescu spent decades in the oil and gas industry working for Baker Hughes and ExxonMobil. He’s won several awards from the Society of Petroleum Engineers, and has dozens of patents to help coax more oil out of the ground.Then in 2021, he became a professor at the University of Texas at Austin and taught the school’s first geothermal engineering class. He even helped author a report on the topic. Now, he has a company that takes his expertise in drilling deep into the Earth’s crust and translates it into sustainable geothermal heating and cooling for commercial and industrial buildings.Big buildings almost always have big carbon footprints, and getting the carbon out of their heating and cooling systems is especially challenging. Many buildings use natural gas to keep them warm in cold months, and some even use fossil fuel for cooling in the summer, too