Quaise Energy raised $134 million in Series B funding. The round, led by Mitsubishi and Safran, targets superhot geothermal drilling for AI data center power.
Key facts
- Raised $134M in Series B funding.
- Led by Mitsubishi and Safran.
- Targets 2030 for first commercial plant.
- Millimeter-wave drilling reaches 20 km depth.
- Superhot geothermal offers >90% capacity factor.
Quaise Energy raised $134 million in Series B funding, according to Canary Media. The round was led by Mitsubishi and Safran, with participation from existing investors. The company is developing a drilling technology that uses millimeter-wave energy to vaporize rock, enabling access to superhot geothermal resources at depths of up to 20 kilometers.
The funding will accelerate the deployment of Quaise's first commercial plant, targeted for 2030. The company's technology promises 24/7 baseload renewable power, a key requirement for AI data centers that currently rely on intermittent solar and wind or carbon-emitting gas plants. Superhot geothermal—temperatures above 374°C—could unlock an order of magnitude more energy than conventional geothermal, with potential capacity factors above 90%.
Quaise's approach is distinct from traditional geothermal drilling, which is limited to specific geological formations. By using millimeter-wave energy, the company can drill through any rock type, dramatically expanding the addressable market. The company has not disclosed its valuation or revenue figures.
Why It Matters for AI
The AI industry's insatiable demand for electricity—projected to reach 10% of U.S. generation by 2030—has created a market for firm, clean power. Quaise's technology directly addresses the intermittency problem of renewables without the waste concerns of nuclear. If successful, it could provide a scalable, carbon-free baseload power source for the hyperscale data centers operated by Google, Microsoft, and Amazon.
What to Watch
Quaise's progress toward its 2030 commercial plant target. Key milestones include field demonstration of the millimeter-wave drilling system at scale and securing offtake agreements with data center operators. Watch for the company's next funding round, likely in 2027, and whether it attracts investment from hyperscale cloud providers.
Source: news.google.com
