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Quaise Energy
Houston, US · Founded 2018 · 15 known investors
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Quaise Energy develops ultra-deep geothermal drilling using gyrotron-powered millimeter-wave technology to reach depths up to 20 km and temperatures up to 500°C, aiming to build superhot geothermal power plants. The company repurposes existing oil and gas workforce, infrastructure, and supply chains to produce clean geothermal energy at scale.</parameter> <parameter name="founders">[]
Also known as Quaise · Quaise Energy Inc.
Founders & leadership
Quaise Energy was founded in 2018 by Matt Houde and Carlos Araque.
Board
Investors · 15
How we know: Collaborative Fund's portfolio page · the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Fine Structures Ventures's portfolio page · Not right? Tell us
How we know: Helium-3 Ventures's portfolio page · a partner's Signal profile · the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Prelude Ventures's portfolio page · board seat on SEC Form D · funding news · offering press articles · canarymedia.com · Not right? Tell us
How we know: The Engine Ventures's portfolio page · the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Xplorer Capital's portfolio page · Not right? Tell us
How we know: the VCSheet dataset · Not right? Tell us
How we know: offering press articles · press coverage · Not right? Tell us
How we know: offering press articles · press coverage · Not right? Tell us
How we know: board seat on SEC Form D · Not right? Tell us
How we know: a partner's Signal profile · board seat on SEC Form D · canarymedia.com · Not right? Tell us
How we know: the VCSheet dataset · Not right? Tell us
Also in the syndicate · 2
Funding
SEC filings, press & company announcements$262.4M disclosed across 5 of 7 rounds · 2020–2026
- Undisclosed amountSeries AFeb 2022
Safar Partners (lead), Nabors Industries, Prelude Ventures, The Engine
Source ↗
▶$179.3MraisedSep 2026 · 49 investors · Other EnergyRule 506(b)
- Carlos AraqueExecutive Officer, Director
- Colleen CalhounDirector
- Vinod KhoslaDirector
- William RestrepoDirector
- Frohman AndersonDirector
- Mark CuptaDirector
- Ali AzadDirector
- Offering amount
- $180.1M
- Amount sold
- $179.3M
- First sale
- Jun 2026
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$13.1MraisedDec 2023 · 9 investors · Other EnergyRule 506(b)
- Jill WatzDirector
- Carlos AraqueExecutive Officer, Director
- Ann DeWittDirector
- William RestrepoDirector
- Kevin BonebrakeExecutive Officer
- Mark CuptaDirector
- Colleen CalhounDirector
- Frohman AndersonDirector
- Offering amount
- $25M
- Amount sold
- $13.1M
- First sale
- Nov 2023
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$52MraisedJun 2022 · 26 investors · Other EnergyRule 506(b)
- Carlos AraqueExecutive Officer, Director
- Arunas ChesonisDirector
- Mark CuptaDirector
- Jill WatzDirector
- Ann DeWittDirector
- Colleen CalhounDirector
- William RestrepoDirector
- Offering amount
- $52M
- Amount sold
- $52M
- First sale
- Jan 2022
- Incorporated
- Corporation, Delaware, 2018
- Federal exemptions
- 06b
▶$12MraisedAug 2021 · 1 investors · Other EnergyRule 506(b)
- Carlos AraqueExecutive Officer, Director
- Ann DeWittDirector
- Colleen CalhounDirector
- Craig ShapiroDirector
- Offering amount
- $12M
- Amount sold
- $12M
- First sale
- Jul 2021
- Incorporated
- Corporation, Delaware, 2018
- Federal exemptions
- 06b
▶$6MraisedJun 2020 · 5 investors · Other EnergyRule 506(b)
- Ann DeWittDirector
- Carlos AraqueExecutive Officer, Director
- Craig ShapiroDirector
- Offering amount
- $6M
- Amount sold
- $6M
- First sale
- May 2020
- Incorporated
- Corporation, Delaware, 2018
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Company profile
researched Aug 2026Quaise Energy is a geothermal energy company developing an ultra-deep drilling platform intended to access superhot rock and convert its heat into electricity. The approach combines conventional rotary drilling to reach basement rock with high-power millimeter waves, generated by a surface-mounted gyrotron, that vaporize rock to extend the borehole further. Standard oil-and-gas tubing serves as a waveguide to carry the millimeter waves downhole, and a purge gas lifts vaporized rock back to the surface, leaving a vitrified borehole and avoiding complex downhole equipment.
The company states its drilling target is depths of up to 20 km and temperatures up to 500° C, conditions it says would make geothermal accessible in most locations rather than only in shallow high-heat regions. Quaise frames higher temperatures as increasing power density to a level compatible with reusing existing fossil-fired power infrastructure, and points to the transferability of oil and gas workforce skills, rigs and supply chains as a way to scale without building new industrial capacity. It also cites low land and materials intensity relative to other renewables.
Quaise's lead development project is Project Obsidian in Central Oregon, described as a superhot geothermal power plant with an initial 50 MW always-on phase and a design that supports adding 200 MW as further wells are developed, for 250 MW total, targeting commercial operation in 2030.
Business model
Quaise develops proprietary millimeter-wave drilling technology and is applying it to its own geothermal power projects, beginning with Project Obsidian in Central Oregon, indicating a project-development path to revenue from electricity generation.
Traction
Company timeline lists a first full-scale hybrid drilling rig combining conventional rotary and millimeter-wave drilling in 2025, first thermal energy from a superhot enhanced geothermal system in 2026, and commercial operation of Project Obsidian in 2030.
Latest developments
In July 2026 Quaise announced a $134 million first close of a Series B round to fund construction of its first superhot geothermal power plant.
▸Full profile — market position, technology, geography
Market position
Positions itself in deep or superhot geothermal, arguing that geothermal at sufficient depth and temperature offers the power density and scalability of fossil fuels and can be developed near population and industrial centers worldwide.
Technology
A gyrotron-powered drilling platform derived from fusion research. Conventional rotary drilling is used to reach basement rock, after which high-power millimeter waves vaporize rock to extend the well. The gyrotron remains at surface; standard oil-and-gas tubing acts as a waveguide to convey the waves over long distances, and a purge gas transports vaporized rock to surface, producing a vitrified borehole without downhole drilling hardware. The stated objective is drilling to 3–20 km and temperatures of 300–500° C.
Geography
Lead project, Project Obsidian, is under development in Central Oregon, United States; the company frames its technology as globally deployable.
Compiled by commissioned research from 1 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 2
launches, deals, and filingsPress release announcing a $134 million first close of a Series B round to build what the company describes as the world's first superhot geothermal power plant.
$134M source ↗
Quaise is developing Project Obsidian, a superhot geothermal power plant in Central Oregon, with an initial phase targeting 50 MW of always-on power and a system design allowing an additional 200 MW as further wells are drilled; commercial operation is targeted for 2030.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
Legal entities · 1
corporate structureIn the news
▸Research sources · 1
primary sources listed
- Quaise Energyquaise.energy · web
1 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Quaise Energy do?
- Quaise Energy is developing millimeter-wave deep drilling technology to tap superhot geothermal energy for baseload power.
- Who founded Quaise Energy?
- Quaise Energy was founded by Matt Houde, Carlos Araque in 2018.
- Who are Quaise Energy's investors?
- Quaise Energy's investors include Collaborative Fund, Fine Structures Ventures, Helium-3 Ventures, Prelude Ventures, TechEnergy Ventures, The Engine Ventures, Xplorer Capital, 8090 Industries and 5 more.
- How much funding has Quaise Energy raised?
- Quaise Energy has disclosed $262.4M raised across 5 of its 7 known rounds.
- Where is Quaise Energy headquartered?
- Quaise Energy is headquartered in Houston, US.