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Geothermal is too expensive, but Dig Energy’s impossibly small drill rig might fix that
Dig Energy's water-jet drilling right promises to cut drilling costs by up to 80%, helping geothermal heating hit price parity with fossil fuel furnaces.
The startup, which has been operating in stealth for the last five years, developed the water-jet drilling rig in an effort to make geothermal heating and cooling so inexpensive that it will displace fossil fuel boilers and furnaces. From left: Vice President of Engineering Dan Jepeal, CEO Dulcie Madden, and CTO Thomas Lipoma Image Credits: Dig EnergyHeating and cooling represent about a third of all energy use in the U.S., and in data centers, the figure can be as high as 40%. When it’s ready for its first commercial pilots — something this seed round will help accomplish — Dig’s rig will grow in size slightly, but it won’t require the large, double-axle trucks that currently dominate the industry.
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