The round was led by Safar Partners with participation from Prelude Ventures, Fine Structure Ventures, The Engine, Collaborative Fund, Nabors Energy Transition Ventures, and others. Safar Partners' Arunas Chesonis and Mark Cupta from Prelude Ventures have joined Quaise Energy's Board of Directors as part of the financing.

Quaise Energy is terawatt-scale geothermal. Quaise is opening access to renewable, baseload power from anywhere on planet Earth. 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.