Bedrock Energy Heats Up

Bedrock Energy has raised $12 million in a Series A funding round led by Titanium Ventures, with participation from Energy Impact Partners and Sustainable Future Ventures, alongside existing investors.

Bedrock Energy designs, constructs, and deploys geothermal heat pump systems using proprietary drilling technologies and subsurface thermal simulation capabilities. The company aims to make geothermal installations more affordable, accessible, and scalable for urban real estate properties. Bedrock systems can serve single commercial buildings or be used to power connected district systems across multiple lots. Founded by Joselyn Lai (CEO) and Silviu Livescu (CTO), Bedrock Energy is headquartered in Austin, Texas.

Bedrock’s recent projects include a completed installation in Morgan County, Utah, near Salt Lake City, and ongoing work on a district geothermal system for a new business park in Hayden, Colorado, located 180 miles northwest of Denver. The Hayden project is backed by the Colorado Energy Office, the Colorado Department of Local Affairs, the Northwest Colorado Business District, and the Town of Hayden.

The new Series A capital will be used to advance Bedrock’s geothermal heating and cooling technologies and expand its deployments across Colorado, Utah, and other Mountain West states.

Geothermal energy provides a reliable, carbon-free source of power for heating and cooling—the largest energy expenses in real estate. According to Oak Ridge National Laboratory, adopting geothermal heat pumps in 70% of U.S. buildings could prevent 7 gigatons of carbon-equivalent emissions by 2050 and save 24,500 miles of transmission line construction by reducing reliance on the power grid.

Titanium Ventures, the lead investor in this round, invests in technology companies across multiple sectors, including enterprise software, cybersecurity, cloud infrastructure, and deep technology. In 2022, Titanium Ventures closed its third fund, bringing its total funds under management to $1 billion. Founded in 2011, the firm is headquartered in San Francisco.