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Quaise Energy Secures $21M to Advance Terawatt-Scale Geothermal Technology and Enhance Field Operations.

Quaise Energy, a US-based energy company unlocking terawatt-scale geothermal, has secured $21m in a Series A1 financing round led by private equity investors Prelude Ventures and Safar Partners. The funding will be used to improve geologic understanding at pilot plants, conduct magnetic and seismic surveys and other tests to identify the most advantageous areas for initial drilling. The funds will support Quaise’s field operations and strengthen its supply chain position, while continuing product development with pre-existing capital. The company harnesses deep geothermal energy worldwide at 3-20km below the Earth’s surface and plans to use this funding to develop its unique drilling technology.

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