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Quaise Energy Raises $134 Million In Series B To Build World's First Superhot Geothermal Power Plant, Led By Prelude Ventures. announced it raised $134 Million in an initial filing from an offering of $144 Million

PRIVATEJul 07, 2026•about 1 month ago

Amount Raised

$134 Million

Round Type

Series B

CambridgeEnergy

Investors

Safar PartnersIdemitsuJeraPrelude Ventures

Description

Quaise Energy, a leading developer of superhot geothermal energy, announced the close of its Series B financing, raising $134 million. This funding will support Project Obsidian, the first commercial superhot geothermal power plant. The round was led by Prelude Ventures, with participation from JERA and Idemitsu. Quaise's innovative technology aims to reach unprecedented drilling depths, advancing towards first commercial revenues.

Company Information

Company

Quaise Energy, Inc.

Location

501 MASSACHUSETTS AVENUE

Cambridge, Maryland, United States

About

Quaise develops millimeter wave drilling systems for deep geothermal heat access. Our technology is the only approach in the world with the potential to build geothermal wells at unprecedented depths and temperatures. By targeting depths up to 20 kilometers and temperatures up to 500 degrees Celsius, we will have the ability to build clean electric generation and heat distribution plants within a short distance of every major population and industrial center on the planet, at a fraction of the footprint of other renewables. And by scaling through the established supply base of the fossil fuel industry, we will be able to achieve the terawatt-level annual deployments that will be required to successfully decarbonize our global energy system.

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