"Quaise Energy Raises $134M to Unlock Superhot Geothermal Power, Project Obsidian Targets 50 MW and Gigawatt Scale"
Earth's New Power Plant, Quaise Energy Raises $134M to Unlock Superhot Geothermal Energy
In a landmark moment for the renewable energy sector, Quaise Energy has secured $134 million in the first close of its Series B funding round, propelling the world's first commercial superhot geothermal power plant from blueprint to reality. This isn't just another funding announcement, it's a declaration that the era of limitless, clean, baseload energy from beneath our feet has officially begun.
The Dawn of a New Energy Frontier
The energy industry has been searching for the "holy grail" for decades: a source of power that is clean, reliable, and available everywhere. Quaise Energy believes it has found the answer, not in the sun or the wind, but deep within the Earth's crust.
The company's ambitious Project Obsidian, located in Oregon's Deschutes National Forest, is set to become the world's first commercial power plant to harness superhot geothermal energy from rock temperatures exceeding 300°C. But the real game-changer is how they plan to get there.
Conventional geothermal energy, like the kind used in Iceland or New Zealand, taps into relatively shallow steam or hot water reservoirs. While effective, it's geographically limited and offers modest power output.
Superhot geothermal energy, on the other hand, targets rock at temperatures between 300°C and 500°C, typically found several kilometers beneath the Earth's surface. Tapping just a small fraction of the world's superhot rock resources could supply tens of terawatts of firm, carbon-free power, far exceeding current global electricity generation.
How Quaise Is Breaking Through the "Basement Rock" Barrier
The reason superhot geothermal hasn't been tapped before is simple, we can't drill deep enough. Traditional rotary drills used by the oil and gas industry cannot withstand the extreme temperatures and pressures encountered at depths of 3 to 12 miles. They fail, drilling becomes exponentially more expensive with depth.
Quaise has solved this problem by completely reimagining the drilling process. Instead of grinding rock with metal bits, they use millimeter wave technology developed at the Massachusetts Institute of Technology.
, The Gyrotron, Think of it as a supercharged microwave. Quaise uses a powerful gyrotron, similar to the ones used in fusion research, to generate high-frequency electromagnetic waves.
, Vaporizing Rock, These waves are beamed down the borehole to literally melt and vaporize the rock, creating a perfectly clean hole without ever making physical contact with the drill bit.
, No Downhole Hardware, Because there are no drill bits to wear out, and the waves travel through air or inert gas, Quaise's system doesn't succumb to the heat and pressure that break conventional tools.
Quaise has backed up its revolutionary technology with rapid, tangible progress.
Proving the Concept
In 2025, the company achieved a major milestone by successfully drilling more than 100 meters through solid granite at its Central Texas field site. This wasn't a lab experiment, it was the first time millimeter wave technology had penetrated basement rock at full scale in field conditions.
CEO Carlos Araque described the achievement, "Our progress this year has exceeded all expectations. We're drilling faster and deeper at this point than anyone believed possible, proving that millimeter wave technology is the only tool capable of reaching the superhot rock needed for next-generation geothermal power".
Breaking Records
The company is now approaching a depth of one kilometer at the same site. This would represent the deepest penetration ever achieved with millimeter wave drilling and the deepest ever recorded by any non-contact drilling technology.
Public demonstrations have shown the technology can drill through granite at rates of up to five meters per hour, a speed the team describes as "extremely fast" compared to the industry average of a tenth of a meter per hour through such hard rock.
While the drilling tests prove the technology works, Project Obsidian proves the business model.
The Project's Scope
The first phase of Project Obsidian is expected to generate at least 50 megawatts of clean, renewable electricity from only a handful of wells. "Our goal is to build out to a gigawatt in the area," says CEO Carlos Araque, highlighting the immense expansion potential of the site.
A Two-Phase Plan
1. The Confirmation Well, The first well to be drilled will give the team key data on the geomechanical properties of the superhot rock, dictating how they will fracture the rock to create pathways for water to flow.
2. Twin Reservoirs, Phase one will create two distinct reservoir systems. One will target rock at an average temperature of 315°C, lower technical risk, while the other will target 365°C. This approach allows Quaise to gain operational knowledge with one system while perfecting a more aggressive approach with the other.
3. Hybrid Drilling, Interestingly, the first wells at Project Obsidian will be drilled conventionally, without millimeter wave energy. This is part of Quaise's blueprint, use conventional drilling for the upper layers, what they are optimized for, followed by millimeter waves for powering through the hard basement rock below.
This hybrid approach means the technology can be deployed almost anywhere, not just in geologically active areas.
Why Investors Are Betting Big
The $134 million Series B round, led by Prelude Ventures with strategic investments from Japanese energy giants JERA and Idemitsu, signals profound confidence in Quaise's mission.
Major Players Take Notice
, JERA, Japan's largest power generation company, understands the need for a truly global baseload resource. Takeshi Kodama, Head of JERA Ventures, stated that millimeter wave drilling "has the potential to make geothermal a truly global baseload resource".
, Idemitsu, One of Japan's largest integrated energy companies, is backing Quaise as part of its commitment to next-generation energy solutions. And just this year they betted big in this startup.
What This Means for the Energy Mix
Mark Cupta of Prelude Ventures captured the sentiment, "We believed accessing superhot rock would unlock geothermal energy at a scale the world has never seen. What the team has achieved in the field and what they are now building at Project Obsidian validates that conviction".
The Path Forward, Why This Matters
A Truly Global Solution
Perhaps the most exciting aspect of Quaise's approach is its potential for global scalability.
, Tier I Locations, Places like Project Obsidian in Oregon where superhot temperatures are accessible at about 5 kilometers.
, Tier II Locations, Almost 40 percent of the world falls into this category, where rock is at an intermediary geothermal gradient.
, Tier III Locations, This is the holy grail. By drilling as deep as 19 kilometers, Quaise believes it can make superhot geothermal viable for more than 90 percent of humanity.
Clean, Baseload Power
Unlike solar and wind, which are intermittent, geothermal provides 24/7 baseload power with a tiny surface footprint. The first phase of Project Obsidian will use only 20 acres of land, less than three percent of the land required for a similar solar or wind facility.
The Road to 2030
Construction is currently underway in Oregon, with first power expected to be delivered to the grid by 2030. This isn't a distant dream, it's a defined roadmap to a cleaner, more resilient energy future.
Conclusion, We Are Witnessing the Birth of a New Energy Era
"We are opening up a path to a new energy frontier," said Carlos Araque. With the $230 million raised to date, and the eyes of the energy world on Oregon, Quaise Energy is not just talking about the future, they are building it.
The ability to access the Earth's internal heat affordably and virtually anywhere could be the single most important technological breakthrough in the fight against climate change. Quaise is leading that charge, and the countdown to 2030 has just begun.
Source: Quaise
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