EarthGrid Breaks Through on Major Milestones

Company Field Tests Tunnel Boring Robot and Announces Revolutionary Two-Torch Plasma Excavation System

SAN FRANCISCO, June 25, 2024 /PRNewswire/ -- EarthGrid Public Benefit Corporation (PBC), a plasma boring technology and development company, revealed today that their tunnel boring robot (TBR) has successfully completed several field tests at scale through some of the toughest tunneling geologies in the world. Additionally, the company is debuting its first-of-its-kind Plasma Excavation System (PES) featuring two plasma torches. These developments in tandem mark a significant step forward in the viability, efficiency and capabilities of the tunnel boring robot.

This development announcement follows on the heels of a recent seed round funding of over $30 million. This was double the initial investment goal of $15 million and underscores investor confidence in EarthGrid's vision and the transformative potential of its cutting-edge plasma technology. With this financial injection, EarthGrid has been able to accelerate the development of their TBR.

The TBR successfully excavated 40 cubic meters, creating a 10-foot by 12-foot tunnel through greywacke in 30 hours using a single torch. Moreover, the TBR has been used successfully to tunnel through granite, quartzite and basalt – some of the hardest rock geologies in the world.

EarthGrid has now unveiled the successful development and deployment of its proprietary two-torch PES, paving the way for combining additional torches to its TBR and increasing the speed and efficiency of its operations.

"These two developments illustrate a clear step in proving our TBR model and its potential to rapidly connect our underground electrical and fiber optic grid safely. No company has ever tried boring through rock with more than one plasma torch – much less through rock like greywacke or granite," said Troy Helming, CEO and Founder of EarthGrid PBC. "We are excited to deploy our two-torch system on several upcoming customer projects."

EarthGrid's two-torch PES is just the beginning of the tunneling industry's future. With a more powerful and efficient tunneling system on the horizon for the EarthGrid team, this technology will create underground pathways to connect transmission and fiber cabling from providers to homes, data centers and businesses, delivering reliable and resilient energy and internet access nationwide.

ABOUT EARTHGRID

EarthGrid, a private American company established in 2016, has developed cutting-edge proprietary plasma tunnel-boring technology to revolutionize the U.S. electric transmission grid infrastructure, significantly enhancing the capacity to transmit electricity nationwide and accelerating America's transition to clean energy.

In addition to greatly expanding electricity capacity, the project will also enhance the safety, security, and reliability of grid infrastructure, housing critical infrastructure underground to avoid natural disasters that have repeatedly devastated grid operations and caused crippling power outages across the country.

EarthGrid's CEO, Troy Helming, is a clean energy pioneer who has founded multiple companies that have generated over $35 billion in economic impact, including two Unicorns. Troy has also invented two technologies, leading to more than 172 clean energy patent claims.

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SOURCE EarthGrid