Quaise Energy Raises $21 Million to Accelerate Terawatt-Scale Geothermal Energy

DID YOU KNOW?
Geothermal pumps are virtually maintenance-free.

Quaise Energy recently announced the closing of a $21 Million Series A1 financing round led by Prelude Ventures and Safar Partners, with Mitsubishi Corporation and Standard Investments among several new investors participating in the round. The funding will enhance the company’s field operations and strengthen its supply chain position, while ongoing product development will continue with pre-existing capital.

“The world needs vast amounts of carbon-free primary energy to transition away from fossil fuels,” said Mark Cupta, Managing Director at Prelude Ventures. "Quaise is creating a truly scalable solution that enables nearly any piece of land on Earth to yield abundant clean energy.”

This new funding aims to improve geologic understanding via magnetic and seismic surveys, among other tests. This data will be used to identify the best areas for initial drilling as well as the first commercial pilots.

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