Quaise Energy Secures $40M Series A To Unlock Terawatt-Scale Geothermal Energy
PRIVATEFeb 08, 2022
Amount Raised
$40 Million
Round Type
Series A
CambridgeEnergy
Description
Quaise Energy, the company unlocking terawatt-scale geothermal, announced today the closing of a $40M Series A financing round led by Safar Partners with participation from Prelude Ventures, Fine Structure Ventures, The Engine, Collaborative Fund, Nabors Energy Transition Ventures, and others. Safar Partners’ Arunas Chesonis and Mark Cupta from Prelude Ventures have joined Quaise Energy's Board of Directors as part of the financing.
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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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CambridgeEnergy