Quaise Energy
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Founders
About
Quaise Energy is a Houston-based deep-tech company developing millimeter-wave drilling technology to unlock superhot geothermal energy from depths in excess of a mile below the Earth’s surface, where rock temperatures range from 400 to 1000 degrees centigrade 12. The company’s flagship demonstration, “Project Obsidian,” is planned in Oregon and targets first grid power by 2030, with a hyperscaler already committed to 50 megawatts of the project output 12. Quaise was spun out of MIT technology and is led by CEO Carlos Araque 12.
Disclaimer: This is a lean profile built from initial round coverage and may be expanded as more information becomes available.
Funding History
| Date | Round | Amount | Lead | Co-investors |
|---|---|---|---|---|
| 2026-07-07 | Series B (initial close) | USD 134M | Prelude Ventures | JERA, Idemitsu, Safar Partners, existing backers 12 |
The Series B initial close brings Quaise Energy’s total funding since founding to USD 230M, with additional equity and debt capital expected to close imminently 12.
What Investors Say
“We have backed Quaise since the beginning because we believed accessing superhot rock would unlock geothermal energy at a scale the world has never seen. What the team has achieved in the field and what they are now building at Project Obsidian validates that conviction.” — Mark Cupta, Managing Director, Prelude Ventures, quoted in Quaise Energy Series B announcement, July 7, 2026 3
What Founders Say
“This round takes us from field-proven technology to first commercial revenues.” — Carlos Araque, CEO and President, Quaise Energy, quoted in Quaise Energy Series B announcement, July 7, 2026 3
Sources
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The Next Web, “Quaise raises $134M to drill superhot geothermal,” July 7, 2026. Accessed July 2026. https://thenextweb.com/news/quaise-energy-134m-series-b-superhot-geothermal↩↩↩↩↩
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Ventureburn, “Quaise Energy Raises $134M Series B to Advance Superhot Geothermal Power,” July 7, 2026. Accessed July 2026. https://ventureburn.com/quaise-energy-raises-134-million-series-b/↩↩↩↩↩
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Finsmes, “Quaise Energy Raises $134M in Initial Close of Series B Funding,” July 7, 2026. Accessed July 2026. https://www.finsmes.com/2026/07/quaise-energy-raises-134m-in-initial-close-of-series-b-funding.html↩↩