Former NHL All-Star Mike Richter leads Brightcore Energy, building energy-efficiency and geothermal systems for commercial and municipal buildings.
- Geothermal basics - Uses stable ~55°F ground temp as thermal battery; far more efficient than air-source systems in extreme temps
- Market gap - <1% adoption in North America vs ~25% in Northern Europe; demand exists, deployment is the bottleneck
- Real moat - Directional drilling (800 ft, tight spacing) + in-house design enables dense urban installs; ops advantage > tech
- Geology matters - Bedrock (e.g., Manhattan schist) lowers cost; sand and landfill increase complexity and capex
- Financing wins deals - Energy-as-a-Service + 40–50% tax credits remove upfront cost barriers; nonprofits now eligible
- Capital strategy - Took outside capital to fund equipment + long sales cycles; dilution vs bigger pie tradeoff
- Founder lesson - Transitioning domains requires humility; persistence beats speed in infrastructure markets
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