US firm unveils compact water-jet rig to slash geothermal drilling costs by 80%

Dig Energy has secured $5 million in venture funding to pilot its geothermal drilling technology, potentially reducing costs by up to 80%. The company's compact water-jet drill uses high-pressure fluid drilling instead of traditional oil and gas rigs, making geothermal systems more affordable. Despite being highly efficient, geothermal adoption in the U.S. remains at 1% due to high installation costs. The technology aims to revolutionize building energy use by tapping into the earth's stable underground temperatures as a natural thermal battery.