The round was led by Prelude Ventures and Safar Partners. Mitsubishi Corporation and Standard Investments are among several new investors participating in the round. This latest funding will enhance Quaise field operations and strengthen the company's supply chain position, while ongoing product development will continue with pre-existing capital.

Quaise Energy is terawatt-scale geothermal, opening access to renewable baseload power for the planet. Deep geothermal uses less than 1% of the land and materials of other renewables, making it the only option for a sustainable clean energy transition. The Quaise approach to deep geothermal is unique in being geography agnostic. Outfitting existing drilling rigs with millimeter wave technology opens the way for power-dense, deep geothermal energy on a global scale. Quaise is accelerating the clean-energy transition by repowering the fossil-fired infrastructure of today with clean geothermal steam.