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Geothermal startup nabs $40M for deep drilling push

Ben Geman of Axios reports on Quaise Energy.

The C3 Take
  • Quaise Energy is a geothermal startup that is using an innovative “millimeter wave” drilling system that Quiase claims will allow them to access energy anywhere in the world.
  •  The latest funding round came from Safar Partners, Prelude Ventures, Fine Structure Ventures, The Engine and others, bringing Quaise’s total funding to $63 million,
  • Geothermal is a largely untapped clean energy resource that could be helpful for reaching climate goals.
  • Private sector innovation is creating a cleaner future.

“Quaise, working with Oak Ridge National Laboratory, plans to move from indoor drilling to in-ground field under lab conditions allowing expansion to depths around 10 meters this year, Araque told Axios via email.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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