Quaise Energy, a geothermal technology startup, raises new funding to develop deep geothermal drilling aimed at extracting heat from “superhot” rocks far below the surface. Bloomberg reports the company secured $144 million, while The Next Web cites $134 million, describing a round intended to support drilling at depths of several kilometers rather than conventional shallow geothermal approaches. The Next Web says Quaise plans to use microwaves to heat or fracture the rock to enable access to geothermal energy. The reporting also indicates the fundraising is structured as a Series B, with Prelude Ventures leading the first close. Overall, the sources agree that the company is pursuing an enhanced method to reach hotter reservoirs underground and that the new capital is meant to advance the drilling technology and related development. The exact amount reported differs slightly between outlets, but both accounts characterize the investment as significant and focused on scaling a microwave-based approach for tapping deep superhot geothermal resources.
Quaise Energy raises about $140M to drill deep superhot geothermal rock
Quaise Energy, a geothermal technology startup, raises new funding to develop deep geothermal drilling aimed at extracting heat from “superhot” rocks far below the surface. Bloomberg reports the compa...
- Quaise Energy is developing technology to access geothermal heat from deep, superhot rocks.
- The company has raised roughly $134–$144 million in a new funding round.
- Reporting describes the approach as using microwaves to drill into or prepare deep rock.
- Prelude Ventures is reported to lead the Series B first close.
- The funding aims to advance drilling plans for depths of several kilometers.
Geothermal used to mean shallow wells and modest heat. Quaise wants to drill kilometres down and blast the rock with microwaves, and it just raised $134 million to try. Quaise Energy has raised $134 million to drill for superhot rock deep underground, Bloomberg reports. Prelude Ventures led the first close of the Series B, the […] This story continues at The Next Web
1 month agoGeothermal startup Quaise Energy raised $144 million to develop technology for drilling superhot rocks.
1 month ago
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