Darcy Solutions
Higher Education · Natural Resources
$15.5Mtotal raised · 8 rounds on record
$15Mlatest round · Venture round · Jul 2026 · 3 mo ago
2backers · Aligned Climate Capital, Moderne Ventures
$3.1Mgrants · 6 grants · CORDIS
Overview
More capacity. Less land. Lower costs. Darcy's groundwater-based geothermal systems are built for commercial buildings across the U.S. Start with a free site assessment.
Funding and backers
Total raised
$15.5M
8 rounds on record
Latest round
$15M
Venture round · Jul 2026 · 3 mo ago
Team
51-200
employees, estimated range
Grants
$3.1M
6 grants · CORDIS
Backers
2
Aligned Climate Capital, Moderne Ventures
The money's age
Fresh money
3 months since the last round · not hiring
Momentum
35/100
in the news, fresh money
Last sign of life
this month
a posting or a news item
The story so fareach stage dated by its source: the company's releases, the press, registers, filings
Aug 11
New executive Dan King, Executive Officer · SEC Form D
Jul 31
Raised a round Venture round $15M · SEC Form D
Aug 14, 2024
Won a grant $502k · CORDIS
Sep 15, 2022
Won a grant $995k · CORDIS
Aug 23, 2021
Won a grant $1.1M · CORDIS
Jun 29, 2020
Won a grant $200k · CORDIS
Jun 18, 2020
Won a grant $99k · CORDIS
Dec 2, 2019
Won a grant $225k · CORDIS
2018
Founded
Funding rounds
| Round | Date | Amount | Investors | Source |
|---|---|---|---|---|
| Venture round | Jul 2026 | $15M | — | SEC Form D |
| Grant | Aug 2024 | $502k | — | CORDIS |
| Grant | Sep 2022 | $995k | — | CORDIS |
| Grant | Aug 2021 | $1.1M | — | CORDIS |
| Grant | Jun 2020 | $200k | — | CORDIS |
| Grant | Jun 2020 | $99k | — | CORDIS |
| Venture round | Dec 2019 | $525k | — | SEC Form D |
| Grant | Dec 2019 | $225k | — | CORDIS |
Registers and programsofficial lists and records that name the company
| Legal entity | Darcy Solutions, Inc. | SEC Form D |
Founders and leadersfrom filings, registers and the company's site
Larson BrianExecutive Officer, DirectorSEC Form D
Randolph JimmyExecutive Officer, DirectorSEC Form D
Andy GustafsonExecutive OfficerSEC Form D
Frederick SteinerExecutive Officer, DirectorSEC Form D
Kathy JenningsExecutive OfficerSEC Form D
Spencer IngaldsonExecutive OfficerSEC Form D
Backed byfrom the funds' portfolios and accelerator catalogs
Investors in similar startupsfunds that back the companies most like this one
Similar startupsby what they do, their industry and backers

Site teams report on WhatsApp. Scopey turns voice notes, messages and photos into site records and diaries, and uses commercial…

ESAI helps students discover their strengths, write standout college essays, and land internships and jobs with AI guidance.

XGS provides Clean, Round-the-Clock Energy Everywhere, Forever. Our proprietary solid-state geothermal system uses thermally conductive…

At Blue Earth Biochar, we empower farmers and land managers with sustainable solutions that enhance food production while safeguarding the…

Discover FluidLytix Intelligent Water Management to save water and lower costs by up to 30%.

Badwater Alchemy offers innovative desalination solutions for sustainable water purification, reducing costs and addressing global water…
Financials
Total raised
$18.6M
Latest round
Venture - Series Unknown
Funding rounds
8
People

Larson Brian
Executive Officer, Director

Randolph Jimmy
Executive Officer, Director

Andy Gustafson
Executive Officer

Frederick Steiner
Executive Officer, Director

Kathy Jennings
Executive Officer

Spencer Ingaldson
Executive Officer

Dan King
Executive Officer

Jimmy Randolph
Executive Officer

Andrew Steiner
Executive Officer, Director

James Rubin
Director
Names and roles come from public filings, company registers and the company's own site. Is this you? Correct or remove · How we handle this data
Connections
List
Graph
Found in company registers, site code, DNS and hiring. Each connection shows how sure we are and the evidence, with its source and date.
Shared investors

Aligned Climate CapitalVia a fund

Moderne VenturesVia a fund
Click a company to open it. Dashed lines are likely connections. The second step of the network is part of the Pro plan.
Owner
Same company
Same group
Likely
News
How Geothermal Well Testing Works: From Desktop Study to Design Well
Designing a commercial geothermal system that performs as intended requires direct measurement of the subsurface conditions at the specific site where that system will be built. At Darcy, the path from initial site interest to final system design runs thr
Read more
Report
Darcy's Q3 2026 Recap: Site Visits, Events, and Industry News
The third quarter of 2026 was a busy one for Darcy. From active construction sites in Minneapolis to conference stages in Dublin, our team spent the summer putting in the work to advance geothermal across the country and beyond. Here's a look at what we w
Read more
Report
What Makes a Location Good for Geothermal? A Guide to Geology, Aquifers, and Site Viability
Before a geothermal system is designed, timelines are laid out, or wells are drilled, every Darcy project typically begins with the same foundational question: Does this location have the geology to support geothermal? It is the most important question in
Read more
Report
Groundwater-Based vs. Closed-Loop Geothermal: What's the Difference and Why It Matters
When evaluating the viability of commercial geothermal for your site, understanding which type of system will work best is key to shaping the entire project, from well count and project footprint to upfront cost and long-term performance. The two primary
Read more
Report
Geothermal for Schools and Universities: A Smarter Investment for Campus Energy
Educational facilities occupy a unique position in the commercial geothermal market. School buildings are typically owned and operated by public entities with long planning horizons, substantial energy budgets, and real accountability to the communities t
Read more
Report
What to Expect During a Commercial Geothermal Installation: A Project Timeline Overview
For facility managers, project managers, and building owners evaluating geothermal for the first time, common questions at the outset typically center around what the process looks like, how long each stage takes, and how much disruption they should prepa
Read more
Report
Meet Darcy's 2026 Intern Class
As the summer is coming to an end and back-to-school season is rapidly approaching, Darcy would like to take a moment to thank our wonderful interns from 2026! With the company forming out of the University of Minnesota, we remain committed to supporting
Read more
Report
Geothermal for Healthcare Facilities: Energy Reliability, Cost Control, and Sustainability
Healthcare facilities operate in a category of their own when it comes to building systems. A hospital or major clinic is never fully off, running 24 hours a day, 365 days a year, with patient comfort, clinical outcomes, and regulatory compliance all dire
Read more
Report
How Geothermal HVAC Supports Sustainability Goals and ESG Reporting
For organizations with serious sustainability commitments, the buildings they occupy are one of the most significant variables in the equation. Commercial and institutional buildings account for roughly 18% of total U.S. primary energy consumption and are
Read more
Report
What Is Commercial Geothermal Heating and Cooling? A Plain-English Explainer
The ground beneath your feet is one of the most reliable sources of energy on the planet. Regardless of what's happening at the surface, whether Minnesota winter or Texas summer, the earth just a few hundred feet down maintains a remarkably stable tempera
Read more
Report
Offices
Where the company hires and what each office is for
Cities
2
Hiring now
0
Countries
1
Loading the map
Headquarters
Builds here
Office with open vacancies
No open vacancies right now Tap a pin for the office
Saint Paul
United States
HQ
New Brighton
United States
Regional office
Contact






