What is Quaise?
Quaise Energy operates at the intersection of advanced engineering and renewable energy development. Originating from over a decade of research at the Massachusetts Institute of Technology, the company has developed a unique approach to drilling that utilizes millimeter waves to penetrate the Earth's crust to unprecedented depths. This technological breakthrough allows for the extraction of heat from deep-seated geothermal reservoirs, providing a consistent, reliable, and carbon-free energy source that can operate independently of weather conditions.
By targeting the conversion of existing power plants to geothermal-ready facilities, Quaise is effectively bridging the gap between legacy energy systems and the future of sustainable power. Its market position is defined by its dual role as both a technology innovator and a project developer, enabling it to control the entire value chain from drilling hardware to power plant operations.
How much funding has Quaise raised?
Quaise has raised a total of $140M across 2 funding rounds:
Seed
$6M
Series B
$134M
Seed (2020): $6M, investors not publicly disclosed
Series B (2026): $134M led by Prelude Ventures, Jera Americas, Safar Partners, and Idemitsu Kosan
Key Investors in Quaise
Prelude Ventures
Prelude Ventures is an investment firm that focuses on supporting early-stage startups with significant potential to mitigate climate change, prioritizing sectors like energy and carbon management.
Jera Americas
Jera Americas is a joint venture between major Japanese electric companies, specializing in the global energy supply chain from fuel procurement to power generation.
Safar Partners
Safar Partners is a technology venture fund that targets innovative startups emerging from leading universities, with a specific focus on cleantech and robotics.
What's next for Quaise?
With this major strategic investment, Quaise is poised to scale its drilling operations and move toward commercial-scale pilot projects. The capital will likely be deployed to refine its millimeter wave hardware and expand its operational footprint, targeting regions where deep geothermal energy can provide the most significant impact on grid stability. As the company transitions into this next phase of growth, the focus will shift toward proving the economic viability of its technology at scale, potentially setting a new standard for baseload renewable energy globally. The involvement of major energy players in this round suggests a strong industry appetite for integrating Quaise's solutions into existing energy portfolios, signaling a potential shift in how nations approach energy independence and decarbonization.
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