Hustler Words – A New Hampshire startup, Dig Energy, has unveiled a groundbreaking solution to the high cost of geothermal energy. Their impossibly small drilling rig promises to slash installation costs by up to 80%, potentially revolutionizing the heating and cooling industry. This innovative technology, developed over five years of stealth operations, uses water-jet drilling, a departure from traditional methods. The company recently secured $5 million in seed funding from Azolla Ventures, Avila VC, Baukunst, Conifer Infrastructure Partners, Koa Labs, Mercator Partners, Drew Scott, and Suffolk Technologies, a significant boost to their commercialization efforts. This funding will be instrumental in scaling operations and launching commercial pilots.
Heating and cooling account for a substantial portion of energy consumption, particularly in data centers. Geothermal offers a sustainable alternative, but high upfront costs have hindered widespread adoption. Dig Energy’s CEO, Dulcie Madden, highlights this challenge: "In the United States, geothermal has been 1% of building installations for decades, despite its low operating costs. It’s simply because the upfront cost is prohibitively expensive."
Dig Energy’s approach focuses on shallow geothermal, utilizing ground loops to transfer heat. Their compact rig addresses the significant cost of installing these loops, currently about 30% of the total ground-source heat pump system cost. Unlike traditional, large-scale drilling rigs, Dig Energy’s design is significantly smaller and more maneuverable, allowing for access to tighter spaces. This translates to reduced costs and increased accessibility, opening up new possibilities for residential and commercial applications.
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The company’s innovative water-jet drilling technology, refined through years of rigorous testing, creates straighter boreholes than conventional methods. This allows for closer placement of the ground loops, further optimizing efficiency and cost-effectiveness. While the current prototype is still undergoing final development, the team demonstrated its capabilities in various soil and rock types, showcasing its robustness and versatility.
The funding will allow Dig Energy to finalize its rig design for commercial use and launch pilot projects. The company’s long-term vision is to provide these compact rigs to drilling contractors, expanding market access and accelerating the adoption of geothermal energy. Madden emphasizes the untapped potential: "We shouldn’t have to require people to buy a $2 million rig. Geothermal should be in 100% of buildings; it’s currently in 1%. How do we close that 99%? It’s effectively an untapped market." With its innovative technology and secured funding, Dig Energy is poised to significantly impact the future of sustainable energy.
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