Bringing down sky scrapers' sky-high carbon footprint with Joselyn Lai from Bedrock
Apr 23, 2024
auto_awesome
Joselyn Lai, co-founder and CEO of Bedrock Energy, brings innovative geothermal heating and cooling solutions to urban buildings. Joined by Tim De Chant, a TechCrunch Climate reporter, they dive into the efficiencies of closed vs. open loop systems. Joselyn shares how they built a client base among urban builders and the ease of fundraising with proven technology. They also explore creating clean energy jobs for workers transitioning from oil and gas, emphasizing the importance of decarbonizing the built environment.
Bedrock Energy is revolutionizing skyscraper energy efficiency by implementing scalable geothermal systems to drastically reduce carbon footprints.
The Inflation Reduction Act incentivizes geothermal adoption, promoting decarbonization in real estate by recognizing it as a sustainable energy source.
Deep dives
Geothermal Heating and Cooling as a Solution
Many skyscrapers currently rely on natural gas for heating and cooling, contributing significantly to their carbon footprints. Geothermal heat pumps present a promising solution for decarbonizing these buildings by utilizing the earth's natural temperature for efficient climate control. Bedrock Energy is at the forefront of this transition, focusing on making geothermal systems more scalable and affordable for building owners. The interview highlights how advancements in drilling technologies from the oil and gas sector can be repurposed for geothermal energy, facilitating deeper geothermal exploration and utilization.
The Impact of the Inflation Reduction Act
The Inflation Reduction Act (IRA) has created various incentives that could encourage the adoption of geothermal systems. By recognizing geothermal as a sustainable baseload energy source, the IRA supports its integration into the wider energy economy. This push is essential as space heating and cooling represent the largest energy consumption and emissions source in real estate. As real estate firms increasingly commit to decarbonizing their portfolios, geothermal energy is emerging as a highly efficient and effective solution.
Bedrock's Unique Approach to Geothermal Systems
Bedrock Energy differentiates itself in the geothermal market by developing construction technologies that enhance the speed, cost-effectiveness, and risk management of drilling geothermal systems. The company focuses on closed loop systems, minimizing environmental risks associated with groundwater contamination while maximizing energy efficiency. Unique to Bedrock is their ability to analyze subsurface data during drilling, which further reduces costs and uncertainty for building owners. By refining construction techniques and optimizing design, Bedrock aims to overcome barriers to geothermal implementation in commercial real estate.
Building Trust and Customer Relationships
Acquiring initial customers in the geothermal market involves overcoming knowledge gaps and skepticism regarding the technology. Bedrock's first commercial project involved a collaboration with a real estate fund seeking to achieve net-zero goals while minimizing energy costs. Helping clients understand the established nature of geothermal heat pumps and demonstrating their efficiency have been crucial for building trust. As demand for energy-efficient solutions grows, especially among commercial real estate developers, Bedrock's focus on cost-saving benefits positions them well for future growth.
Most skyscrapers have sky-high carbon footprints due mostly to inefficient methods of heating and cooling. Today’s guest, Joselyn Lai is the co-founder and CEO of Bedrock Energy, a company that works with buildings to install geothermal systems. They have developed a system to drill the exact amount of boreholes at the precise depth needed to create the most efficient system per building.
Today Dom is joined by a special guest host, TechCrunch Climate reporter Tim De Chant.
In this conversation they cover:
How the company has built up a customer base of urban builders
Why it's easy to fundraise when the technology has been proven to be so effective
Creating clean energy jobs for people who work in oil and gas