Petra Unveils Tunneling Technology, $30 Million Series A

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Petra&comma; the first robotics company capable of undergrounding critical utilities through hard geologies&comma; has announced the successful completion of a 20-foot demonstration tunnel through the hardest rock on earth&comma; and &dollar;30 million Series A funding led by DCVC&comma; the leading Deep Tech venture firm&period;<&sol;p>&NewLine;<p>Petra has invented a new hard rock boring-robot&comma; transforming the way all utilities are buried underground by tackling the hardest problem in underground construction&colon; how to bore utility tunnels reliably and cost-effectively through nightmare geologies&period; The ability to underground utilities is essential to meet the increasing global demand for energy&comma; and to avoid grid-related disasters in the face of violent climate change&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;In the past&comma; there have only been a handful of costly and inefficient methods for tunnel construction&comma; starting with manual tools and evolving to the modern tunnel-boring machine&period; Our non-contact method is the next evolution of tunneling and will usher in a new age of undergrounding utilities&comma;” said Petra CEO and co-founder Kim Abrams&period; &OpenCurlyDoubleQuote;By delivering the first non-contact&comma; boring-robot that affordably undergrounds utilities through bedrock&comma; we can protect communities around the world from exposure to wildfires and ensure the safety of critical infrastructure in disaster-prone areas&period;”<&sol;p>&NewLine;<p>Petra has developed the first non-contact&comma; thermal-drilling method that can uniquely bore 60-inch diameter micro tunnels through hard rock&comma; making it possible to bore utility tunnels through previously impenetrable geologies&period; Conventional micro-tunneling machines are purpose-built for a single diameter&period; By contrast&comma; Petra is capable of boring a range of diameters between 20-60 inches&comma; dramatically reducing the costs of tunneling&period; Petra also offers the first reverse-tunneling technology&comma; making machine maintenance and cutter head rescue possible&period; Petra is enabling customers to rapidly bury critical utilities for a fraction of the cost of legacy techniques&comma; which includes construction services&comma; tunnel development&comma; and ongoing maintenance&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;At DCVC we’re committed to investing in companies that are building solutions to make our society’s infrastructure more resilient<b>&period; <&sol;b>Petra’s ability to bore tunnels in bedrock is transformational for global utilities and innumerable other applications&comma;” said Dr&period; Chris Boshuizen&comma; DCVC Partner and co-founder of Planet&period; &OpenCurlyDoubleQuote;Petra’s tunneling technology is providing a safer&comma; faster&comma; and more cost-effective option for all underground infrastructure &&num;8211&semi; electricity&comma; water&comma; sewage&comma; and enables projects the world would never have been able to do before&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;As the former President of SoCal Edison&comma; I oversaw capital projects in urban&comma; suburban&comma; and rural mountainous areas&period; A robot that can bury utility facilities in bedrock would have been a game-changer for us&comma;” said Bob Foster&comma; a Petra Advisor&period; &OpenCurlyDoubleQuote;In cities&comma; it would allow us to bury utilities in bedrock&comma; below the existing infrastructure&period; In mountainous areas&comma; like the Sierra foothills&comma; it would allow us to bury utilities in the most fire-prone regions of our state&period;”<&sol;p>&NewLine;<p>Petra’s semi-autonomous robot can tunnel faster and cheaper than conventional undergrounding methods&comma; and through geologies previously thought impenetrable&period; By contrast&comma; traditional micro Tunnel Boring Machines &lpar;mTBM&rpar;&comma; Horizontal Directional Drilling &lpar;HDD&rpar;&comma; and other conventional &OpenCurlyDoubleQuote;trenchless” methods have cutter heads which easily break when drilling through hard rock&comma; increasing project cost and complexity&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Petra successfully completed a 20-foot bore through hard Sioux Quartzite&comma; where we averaged an astounding one-inch-per-minute in a geology usually excavated by dynamite&comma;” said Ian Wright&comma; Petra’s CTO and a Tesla co-founder&period; &OpenCurlyDoubleQuote;No undergrounding method has been able to tunnel through this kind of bedrock until now&period; This achievement is due to Petra’s thermal drilling method which efficiently bores through rock without touching it&period;”<&sol;p>&NewLine;<p>Elon Musk&comma; CEO of Tesla&comma; also founded his own tunneling firm called The Boring Company&comma; which builds tunnels for transportation systems&comma; utility and freight&period;<&sol;p>&NewLine;

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