As tech companies continue their race to control the smart home, a promising energy startup has raised a round of funding from traditionally-tech and strategic investors, for a geothermal solution to heat and cool houses.
Dandelion Energy, a spinout from Alphabet X, has raised $16 million in a Series A round of funding, with strategic investors Comcast Ventures leading the round along with GV, the investment arm of Alphabet formerly known as Google Ventures.
The premise of Dandelion’s business is that it provides a source of heating and cooling homes that takes people away from consuming traditional, energy grid-based services — which represent significant costs, both in terms of financial and environmental impact.
While there have been a number of efforts over the years to tap geothermal currents to provide home heating and cooling, many of the solutions up to now have been challenging to put in place, with services typically using wide drills and digging wells at depths of over 1,000 feet.
The company is in the business of building homes, and it has been investing in particular in the idea of building the next generation of homes by incorporating better connectivity, more services — and potentially alternative energy sources — from the ground up.
Dandelion Energy is finally making geothermal affordable and we look forward to the possibility of including it in the homes Lennar builds.”
Dandelion is literally “off grid” in its approach to providing home energy, and while you might think that it doesn’t make sense for a company that is investing in and peddling services and electronic devices connected to a centralised (equally electricity-consuming) internet to be endorsing a company that’s trying to build an alternative, it actually does.
Dandelion may not be “connected” but even its approach to disconnecting will appeal to a person who may already be thinking of ways of reducing his or her carbon footprint and energy bills (especially since they may be consuming vast amounts of electricity to run their connected homes).
“The team at Dandelion and their modern approach to implementing geothermal technology is transforming the industry and giving consumers a convenient, safe, and cost-effective way to heat and cool their homes while reducing carbon emissions.”
“In a short amount of time, Dandelion has already proven to be an effective and affordable alternative for home heating and cooling, leveraging best-in-class geothermal technology,” said Maguire, in a statement.
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