EarthGrid PBC Seed Funding Oversubscribed

Today, EarthGrid Public Benefit Corporation (EarthGrid PBC), a plasma boring technology and infrastructure development company, is announcing it has raised $30 million at the close of its seed funding, doubling the investment goal of $15 million. This brings the total equity raised by EarthGrid to approximately $50 million since its inception in 2016. The $30 million will enhance the production of Tunnel Boring Robots (TBRs) which utilize a series of plasma-powered torches to break down geologic structures. The TBRs will be used to create a network of new underground transmission lines across the United States. The $30 million includes more than $3 million from a crowdfunding on NetCapital where 1,514 individuals invested between $100 to $165,000. This option was offered to democratize the ownership of infrastructure and utilities. Read more >>