Quaise Energy Secures $21 Million to Revolutionize Geothermal Energy
March 13, 2024, 1:20 pm
Quaise Energy, a game-changer in the geothermal energy sector, has raised $21 million in Series A1 funding to accelerate its terawatt-scale deep geothermal technology. This funding will fuel field operations expansion and supply chain enhancement, paving the way for a cleaner energy future.
Quaise Energy, based in Cambridge, MA, is on a mission to unlock the potential of deep geothermal energy, a promising source for meeting global energy needs on a massive scale. With the ability to produce 10 times more energy than conventional geothermal sources, deep geothermal power plants offer 24/7 baseload power and the opportunity for universal access to clean energy on a small land footprint.
The company's innovative approach involves vaporizing rock using high-power microwaves in the millimeter range, a technique developed through years of research at MIT and testing at Oak Ridge National Laboratory. By harnessing geothermal energy 3-20 km below the Earth's surface, Quaise is poised to revolutionize the energy landscape.
With investors like Prelude Ventures, Safar Partners, Mitsubishi Corporation, and Standard Investments on board, Quaise Energy is well-positioned to drive the transition to sustainable energy solutions. The funding will support geologic surveys to identify optimal drilling locations and strengthen the supply chain for the company's groundbreaking drilling technology.
By repurposing existing industrial assets and leveraging deep geothermal power plants, Quaise Energy is paving the way for a cleaner, more sustainable energy future. With a focus on scalability and global impact, Quaise Energy is poised to lead the charge towards a carbon-neutral world.
Quaise Energy's success in securing $21 million in funding is a testament to the growing interest in clean energy solutions and the potential of deep geothermal technology to transform the energy sector. As the company continues to innovate and expand its operations, the future of clean, abundant energy looks brighter than ever.
Quaise Energy's commitment to sustainability and innovation sets it apart as a key player in the transition to a cleaner, greener energy future. With the support of investors and a dedicated team, Quaise Energy is poised to make a significant impact on the global energy landscape.
Quaise Energy, based in Cambridge, MA, is on a mission to unlock the potential of deep geothermal energy, a promising source for meeting global energy needs on a massive scale. With the ability to produce 10 times more energy than conventional geothermal sources, deep geothermal power plants offer 24/7 baseload power and the opportunity for universal access to clean energy on a small land footprint.
The company's innovative approach involves vaporizing rock using high-power microwaves in the millimeter range, a technique developed through years of research at MIT and testing at Oak Ridge National Laboratory. By harnessing geothermal energy 3-20 km below the Earth's surface, Quaise is poised to revolutionize the energy landscape.
With investors like Prelude Ventures, Safar Partners, Mitsubishi Corporation, and Standard Investments on board, Quaise Energy is well-positioned to drive the transition to sustainable energy solutions. The funding will support geologic surveys to identify optimal drilling locations and strengthen the supply chain for the company's groundbreaking drilling technology.
By repurposing existing industrial assets and leveraging deep geothermal power plants, Quaise Energy is paving the way for a cleaner, more sustainable energy future. With a focus on scalability and global impact, Quaise Energy is poised to lead the charge towards a carbon-neutral world.
Quaise Energy's success in securing $21 million in funding is a testament to the growing interest in clean energy solutions and the potential of deep geothermal technology to transform the energy sector. As the company continues to innovate and expand its operations, the future of clean, abundant energy looks brighter than ever.
Quaise Energy's commitment to sustainability and innovation sets it apart as a key player in the transition to a cleaner, greener energy future. With the support of investors and a dedicated team, Quaise Energy is poised to make a significant impact on the global energy landscape.