US startup raises $180m to drill 5km deep for superhot geothermal power

Quaise Energy, a US-based startup, recently secured $180 million in funding to develop the Obsidian Project in Oregon. This project aims to create the world's first commercial superhot geothermal plant, which would drill wells up to 5 kilometers deep into rocks heated between 300 °C and 500 °C. The funding round included $35 million from Nabors, one of the largest oil and gas drillers globally.

Nabors will provide a land rig, software, and personnel for the project, leveraging its expertise in drilling to support a technology that eliminates the need for a drill bit. The gyrotron, a millimetre-wave generator, will heat the rock, vaporising it without mechanical contact. This approach enables drilling in rocks that are three times hotter than what traditional methods can handle, potentially increasing energy output by several times.

Oregon's geothermal gradient is particularly advantageous, with temperatures reaching 100 °C per kilometre, allowing for drilling at a fraction of the depth required elsewhere. The company has already drilled over 100 meters of granite in Texas and is now working on reaching 1 kilometre of depth. Phase I of the project in Oregon aims to deliver 50 MW of power by 2030, with plans to scale up to 250 MW in the future.