Quaise Energy has raised $134 million [1] in the initial close of its Series B funding round to build a superhot geothermal power plant.
This investment targets the development of a millimeter wave drilling system capable of reaching extreme depths. If successful, the technology could unlock vast amounts of geothermal energy that were previously inaccessible due to the heat and hardness of deep rock.
Prelude Ventures led the funding round, according to the Financial Post [2]. Other participants included Idemitsu Kosan, one of Japan’s largest integrated energy companies, and JERA Co., Inc., one of Japan’s largest power generation companies [3].
The company aims to use its specialized drilling system to access superhot geothermal resources. Traditional drilling methods often struggle with the intense temperatures found at the depths required for superhot geothermal energy, a barrier Quaise Energy intends to overcome with its millimeter wave technology.
According to the Financial Post, Quaise’s millimeter wave drilling system is approaching one kilometer [4] of depth. The funding is intended to accelerate the transition from this developmental phase to the construction of the world’s first superhot geothermal power plant.
By utilizing millimeter waves, the company seeks to vaporize rock rather than mechanically crush it. This approach allows for deeper penetration into the Earth's crust, potentially providing a consistent, carbon-free energy source that is not dependent on weather conditions or specific geographic locations.
“Quaise Energy has raised $134 million in the initial close of its Series B funding round”
The move toward superhot geothermal energy represents a shift from relying on naturally occurring hydrothermal vents to creating engineered geothermal systems. By drilling deeper into the crust, energy companies can potentially access heat anywhere on the planet, transforming geothermal power from a niche regional resource into a scalable, baseload power source for the global energy grid.
