Quaise Energy Raises $21M for Geothermal Tech

MIT-spinoff Quaise Energy has just raised $21 million to advance their geothermal technology. This round was led by Prelude Ventures and Safar Partners.

Quaise Energy uses high-power microwaves to vaporize rocks, allowing for deeper drilling than traditional methods. This could make geothermal energy more widely accessible and not bound to specific locations.

Right now, geothermal accounts for only 0.4% of the U.S. energy supply. However, experts believe it could make up to 8.5% by 2050. Quaise Energy’s technology could help us get there.

Quaise’s recent funding will be used to ramp up the company’s pilot plant and improve supply chain logistics. If successful, Quaise could provide 24/7 large-scale energy production that solves intermittency issues.

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