Quaise Energy, a leading developer of utility-scale superhot geothermal energy, has announced the final close of its Series B, raising a total of $180 million in equity financing, including a $35 million investment from Nabors Industries, one of the world's largest land drilling contractors and a long-standing partner to Quaise. Nabors has also entered into a strategic framework agreement that supports Quaise's mission to make superhot geothermal a commercial reality, beginning with the development of Project Obsidian, the world's first superhot geothermal power plant. The Series B brings Quaise's total funding to date to $280 million.

Quaise Energy is unlocking the Earth's deep heat to deliver clean, reliable, baseload energy at scale-almost anywhere in the world. As both a technology innovator and project developer, Quaise builds and operates solutions that harness superhot geothermal energy far below the surface, enabling power generation that can rival the output of today's most efficient fossil fuel and nuclear plants. With its millimeter wave drilling technology, developed after more than a decade of research at the Massachusetts Institute of Technology (MIT), Quaise's mission is to make superhot geothermal a backbone of the modern energy system, offering affordable, zero-carbon power and true energy independence for communities and nations everywhere.