Quaise Energy raises $180 million to kickstart superhot geothermal project
Quaise Energy just raised $180 million to kickstart the Obsidian Project in Oregon, aiming to create the world's first superhot geothermal power plant.
They plan to drill more than five kilometers into rock heated up to 500 Celsius using microwave technology, unlocking a new, cleaner energy source.
Nabors Industries chipped in $35 million and will help out with drilling expertise.
Quaise's hybrid drilling uses gyrotron microwaves
Instead of old-school drill bits, Quaise uses a hybrid approach of conventional drilling and gyrotron tech (basically microwaves that vaporize rock) to reach deep, superhot areas regular drills can't touch.
Their Texas test runs already broke past 100 meters, and Oregon's geology near Newberry Volcano looks promising.
The goal: deliver 50 MW of power by 2030 and push clean power further than before.