Quaise Raises $12M in Funding

Quaise

Quaise, a Cambridge MA-based geothermal energy company, raised $12M in funding.

The round was led by Nabors Industries.

The company intends to use the funds to accelerate development of its millimeter wave drilling technology towards its first field demonstration in the Western U.S., positioning it to scale geothermal energy to terawatts.

Led by Carlos Araque, co-founder and CEO, Quaise provides millimeter wave drilling systems to harness geothermal energy around the globe, overcoming the geographic constraints limiting this energy source today. The company’s technology enables the clean energy transition by accessing the largest source of power-dense clean energy on Earth.

Quaise has raised a total of $18 million to date, which includes $6 million in Seed Funding led by The Engine, with participation from Collaborative Fund, Vinod Khosla and Safar Partners.

FinSMEs

03/08/2021