Dig Energy has successfully developed a new mini drill rig that very well could change the costs associated with geothermal heating and cooling installations. This new portable drilling technology could provide a competitive price to geothermal energy systems when compared to fossil fuel heating, while reducing drilling costs and expenses by upwards of 80%.
Dig Energy’s mini drill rig utilizes high-pressure water-jetting technology to bore holes; therefore the rig is much smaller than traditional geothermal drilling rigs that require transport by massive trucks, and come at a high cost of up to hundreds of thousands of dollars. Dig Energy’s mini drill rig fits within small spaces whether residential backyards or commercial areas densely filled with equipment. This means lower capital costs for geothermal projects, as well as less disturbance of the site.
Relative to the amount of total building installations, geothermal heating and cooling is only a small fraction primarily due to the costly and invasive aspects of drilling deep boreholes. Dig Energy’s technology is designed to address these cost concerns and is being marketed towards shallow geothermal, which is generally a few hundred feet deep in areas where the earth’s temp will remain stable all year round. This design feature will be perfect for more energy efficient heating and cooling as the less energy a system consumes, the less energy it will require to fully operate and meet its loads.
Dig Energy aims to bridge the gap between prototype testing and pilot installation, with the intention of advancing to commercial deployment, thanks to $5 million in seed funding. They plan to sell their mini drill rigs to drilling contractors, which will help expand industry access to affordable geothermal solutions, reducing the reliance on large, expensive projects.
Their vision is to make geothermal heating and cooling available to most, if not all, buildings; completely transforming how buildings are heated and cooled, supporting grid balance, and reducing carbon emissions. By effectively reducing drilling costs, Dig Energy is paving the way as a leader in the clean energy transition within building infrastructure, with a reliable, scalable and easy-to-use rig.
