Geothermal for HVAC: 5 Startups to Watch

Published on September 15, 2026

Heating and cooling buildings is a major energy challenge, particularly as cooling demand continues to grow. Geothermal HVAC offers an alternative by using the relatively stable temperatures underground to heat and cool buildings more efficiently.

Despite this potential, high upfront costs, drilling requirements and site-specific conditions have historically made geothermal systems difficult to deploy at scale. Startups are now working to make these systems more accessible across a wider range of buildings and applications. New approaches to drilling, heat exchange and system design are helping push those boundaries, opening up more practical pathways for geothermal heating and cooling.

Here are five geothermal HVAC startups worth watching.

Five geothermal HVAC startups to watch

The companies below are tackling different parts of the geothermal HVAC value chain, from geothermal system design and installation to drilling and heat exchange technologies.

Bedrock Energy logo

Bedrock Energy

United States · Founded 2022
$25.8M
Raised

Bedrock Energy is making geothermal heating and cooling more practical for commercial buildings. Its technology combines geological data, intelligent drilling and geothermal borehole design to make ground-source systems faster and more space-efficient to install.

Enerdrape logo

Enerdrape

Switzerland · Founded 2019
$2.5M
Raised

Enerdrape develops modular geothermal panels that capture thermal energy from underground spaces such as parking garages and tunnels. The technology can be connected to heat pumps to provide heating and cooling for buildings, offering an alternative to conventional geothermal drilling.

Darcy Solutions logo

Darcy Solutions

United States · Founded 2018
$19M
Raised

Darcy Solutions develops groundwater-based geothermal systems for commercial and industrial buildings. Its systems use site-specific geological conditions to design geothermal heating and cooling solutions for applications including offices, schools, hospitals and other large buildings.

Dig Energy logo

Dig Energy

United States · Founded 2023
$7.5M
Raised

Dig Energy is tackling one of the biggest barriers to geothermal HVAC: drilling costs. The company develops drilling technology designed to make geothermal installations faster and more affordable, helping expand the potential for ground-source heating and cooling.

Strataphy logo

Strataphy

Saudi Arabia · Founded 2025
$6M
Raised

Strataphy develops geothermal cooling systems that use the subsurface for thermal exchange. Its PrimeLoop technology is designed for applications including data centers, industrial facilities and commercial buildings, with a focus on reducing cooling energy consumption and upfront infrastructure requirements.

ALL 432, NOT JUST THESE FIVE
The full geothermal HVAC market on the Net0 Platform
Net Zero Insights tracks 432 geothermal HVAC companies, 294 funding rounds and $1.9B in funding as of 10 September 2026. Explore the market by geography, funding stage, round date, investors and other company and technology attributes.
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Frequently asked questions

How many geothermal HVAC companies are there?
Net Zero Insights tracks 432 companies active in geothermal HVAC, with 294 funding rounds and $1.9B in total funding as of 10 September 2026.
What is geothermal HVAC?
Geothermal HVAC uses the relatively stable temperature below the earth’s surface to heat and cool buildings. Geothermal or ground-source heat pumps transfer heat between a building and the ground, reducing reliance on conventional heating and cooling systems.
What technologies are being developed for geothermal HVAC?
The market includes ground-source heat pump systems, geothermal borehole fields, groundwater-based systems, modular geothermal panels and drilling technologies designed to reduce the cost and complexity of geothermal installations.
What are the main challenges facing geothermal HVAC?
High upfront costs, drilling requirements, geological conditions and limited space can make geothermal HVAC difficult to deploy. Startups in the sector are working to address these barriers through lower-cost drilling, improved system design and new approaches to accessing underground thermal energy.

Part of Net Zero Insights’ geothermal HVAC coverage.

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