The startup manufactures thermal energy systems that replace conventional heating and cooling equipment with a central heat pump utilizing underground pipes to transfer thermal energy. This technology enables building developers to lower operational costs while achieving carbon reduction targets for their projects.
Funding
$185.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Conventional heating and cooling systems in buildings rely on fossil fuels or electricity, leading to high operational costs and significant greenhouse gas emissions. Building developers face increasing pressure to meet carbon reduction targets while maintaining profitability and increasing net saleable area.
Solution
Subterra Renewables provides geothermal exchange systems that replace traditional HVAC equipment with a central heat pump connected to underground pipes. This technology transfers heat between the building and the earth, leveraging the earth's stable temperature to provide efficient heating, cooling, and domestic hot water. Subterra offers a complete solution, including system design, construction, and ongoing operation and maintenance. Their Energy as a Service (EaaS) model allows developers to install the system with no upfront capital cost, partnering with Subterra for asset management and risk mitigation.
Target Audience
The primary target audience includes building developers, property managers, and building owners seeking to reduce operational costs, meet carbon reduction targets, and increase the value and market appeal of their properties.
Features
- Geothermal exchange systems that utilize the earth's constant temperature for heating and cooling
- Energy as a Service (EaaS) model for no-upfront-cost installation
- Complete drilling services for vertical geothermal exchange borehole drilling up to 1,000'
- System design optimized for specific building and site characteristics
- Integration with residential, commercial, industrial, and district heating/cooling applications
- Real-time system diagnostic monitoring and reporting
- Largest drilling fleet in North America, with over 60 rigs
- Capability to install +$10m in Geothermal Exchange Systems per month