EarthGrid has developed proprietary plasma tunnel-boring technology embodied in Tunnel Boring Robots (TBRs) that use plasma-powered torches to break down geologic structures. The company plans to scale production of TBRs to build a network of new underground transmission lines across the United States to increase electricity transmission capacity. Management frames the work as supporting America’s clean energy transition while enhancing safety, security and reliability by housing critical grid infrastructure underground. EarthGrid intends to deploy the technology in announced projects and anticipates a major joint venture that will generate multiple years of revenue. Financially, the company raised a $30M seed round in 2023, including more than $3M via a NetCapital crowdfunding campaign, bringing total equity raised to approximately $50M since its 2016 founding. Troy Helming is CEO and the company says it has a binding term sheet with a prominent institutional investor to lead significant financing in early 2024.

Total raised

$30M

Funding rounds

1

Latest round

Seed

Latest activity

Oct 2023