BSV Webinar 0034: EarthGrid

EarthGrid Founder and CEO, Troy Helming, sits down with Balerion Senior Associate, Aidan Daoussis, to discuss plasma-based tunneling and large-sclae underground infrastructure.00:00 – 01:30 Welcome & introductionsAidan introduces Troy Helming, Founder and CEO of EarthGrid, and frames the conversation around revolutionary underground infrastructure using plasma tunneling technology.01:30 – 03:00 EarthGrid’s mission, explained simplyTroy delivers a memorable “dinner party pitch,” describing EarthGrid’s plasma tunnel boring robot as a lightsaber-powered underground machine designed to solve power and data center bottlenecks.03:00 – 05:00 The AI power crisisWhy AI and data centers are the fastest-growing sources of electricity demand—and why transmission, not generation, is the real constraint.05:00 – 07:00 Why underground beats overheadComparison between European and North American power grids, reliability challenges, wildfire risk, and why underground infrastructure is essential.07:00 – 08:30 Plasma tunneling vs conventional boringHow EarthGrid’s non-contact, plasma-based approach differs from mechanical tunnel boring machines in speed, cost, and environmental impact.08:30 – 10:00 Speed, scale, and real-world testingDemonstrated tunneling rates of hundreds of meters per day through granite and other hard rock types.10:00 – 12:00 Machine design & mobilityDiscussion of tunnel diameter, tight turning radius, retrievability, and why EarthGrid machines are reusable and flexible.12:00 – 14:30 “Lightning in a tube” explainedTroy walks through the plasma physics behind EarthGrid’s technology, including superheated air, spallation, and solid-state excavation.14:30 – 16:00 Waste becomes an assetHow EarthGrid converts excavated rock into reusable sand rather than costly hazardous muck.16:00 – 17:30 Commercial readiness & customer tractionEarthGrid’s transition from R&D to revenue, with machines deployed in Europe and active utility contracts.17:30 – 19:00 Core customers and use casesUtilities, data center developers, renewable energy projects, and large infrastructure owners.19:00 – 20:30 Underground logistics & freightFuture applications including underground package delivery networks, fiber corridors, and municipal infrastructure.20:30 – 22:00 Space applications: Moon, Mars, and asteroidsUsing plasma tunneling for lunar habitats, lava tube access, asteroid mining, and subsurface space infrastructure.22:00 – 23:30 Paid pilots and European tractionDetails on paid projects in Norway, Iceland, and the U.S., including vibration-free excavation near sensitive equipment.23:30 – 25:00 Contract structures & risk managementHow EarthGrid structures open-book, cost-plus, and JV-style contracts as a deep-tech startup.25:00 – 28:30 Founder origin storyTroy recounts the moment EarthGrid was conceived; connecting a failed solar project, plasma cutting torches, and a late-night insight.28:30 – 30:00 Beyond power: bunkers, mining, and citiesNon-obvious use cases including underground substations, bunkers, mining, and urban infrastructure.30:00 – 31:30 Permitting as the real bottleneckWhy EarthGrid’s status as a regulated utility allows it to bypass public comment and dramatically accelerate projects.31:30 – 33:00 IP moat and competitive defensibilityPatents, trade secrets, and supplier exclusivity as EarthGrid’s three-layer defensive moat.33:00 – 34:30 Recurring revenue & infrastructure economicsUnderground power corridors as 20-year contracted assets with multi-billion-dollar NPV potential.34:30 – 36:00 Financing large-scale underground projectsWorking with project finance banks, anchor tenants, and infrastructure-style funding models.36:00 – 38:00 Nuclear, SMRs, and underground sitingHow EarthGrid enables future nuclear and SMR deployments by solving transmission and permitting challenges.38:00 – 40:00 Fiber arbitrage & the “Hummingbird” analogyLessons from underground fiber trades and why latency and infrastructure arbitrage remain powerful opportunities.40:00 – 42:00 Building the underground supergridTroy’s long-term vision: coast-to-coast tunnels carrying power, fiber, water, freight, and eventually people.42:00 – 44:00 BOOM vs BADASS business modelsEarthGrid’s dual approach: construction-as-a-service versus build-own-operate infrastructure.44:00 – 46:00 Space launch tunnels & future megaprojectsSpeculation on mountain-based launch tunnels, railguns, and radically lowering the cost to orbit.46:00 – Closing reflections & milestones aheadFinal thoughts on commercialization, Series A fundraising, and why underground infrastructure may be foundational to the next century. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com