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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