Quaise Energy closes $180M Series B to commercialize superhot geothermal
Quaise Energy will use the round to move millimeter-wave drilling toward commercial revenue and a 50 MW first phase at Project Obsidian by 2030.
By RuntimeWire Staff · Published
Primary source: Business Wire
Why it matters
Nabors is putting $35 million and a strategic drilling framework behind Quaise's difficult scale-up from a field test of more than 100 meters to commercial wells measured in kilometers. The financing buys Quaise more time and industrial capacity, while the central technical questions remain depth, well durability and economical power production.
Carlos Araque, co-founder and CEO of Quaise Energy, has closed a $180 million Series B for the Houston-based MIT spinout he co-founded to drill for superhot geothermal resources with millimeter waves.…