Quaise Energy has secured $134m in Series B financing for Project Obsidian, a superhot geothermal power plant in Oregon with gigawatt-scale potential. Utilizing a millimetre wave drilling system, the project aims to deliver electricity to the grid by 2030 by accessing subterranean temperatures between 300°C and 500°C. The company plans to secure additional funding for the commercial deployment of their innovative technology, offering a promising solution for sustainable energy production.
https://www.power-technology.com/news/quaise-energy-project-obsidian/