FinTechFunding

Quaise Energy: Raises $40M in Series A Funding

Quaise Energy Raises $40M in Series A Funding

  • Quaise Energy, a Cambridge, MA-based terawatt-scale geothermal company, closed a $40M Series A financing round
  • The company intends to use the funds to accelerate product development and expand its multi-disciplinary teams based in Boston, Houston, and Cambridge, UK
  • QuaiseEnergy is a terawatt-scale geothermal company opening access to renewable, baseload power from anywhere on planet Earth
  • The company will build field-deployable drilling machines to demonstrate the capabilities of this novel drilling technology in the field by 2024
  • QuaiseEnergy spun out of the MIT Plasma Science and Fusion Center in 2018
  • The company has raised $63M to date, including $18M in seed funds and $5M in grant mone
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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