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