Superhot Geothermal Just Got A $180 Million Vote Of Confidence
As the artificial intelligence boom drives major energy demand growth and catalyzes an all-of-the-above approach to energy development, enhanced geothermal energy is catching a windfall of investment dollars and renewed policy interest. A new wave of next-gen geothermal energy projects and startups may have the backing it takes to bring the cutting-edge, round-the-clock clean energy technology…
As the artificial intelligence boom drives major energy demand growth, enhanced geothermal energy is receiving a significant investment windfall and renewed policy interest. Quaise Energy, a Houston-based geothermal startup, has secured $180 million in Series B funding, with a substantial $35 million contribution from drilling giant Nabors Industries.
This funding will enable Quaise to develop superhot geothermal technology at a utility scale, bringing the clean, emissions-free energy source to commercial markets across the United States. This technology uses drilling methods from the oil and gas and nuclear fusion sectors to access the Earth's core heat, making geothermal energy viable and scalable in nearly any location.
With reliable and indigenous forms of clean energy becoming increasingly critical due to the energy demands of data centers and extreme weather conditions, geothermal energy could meet up to 64 percent of the projected growth in data center energy demand as early as the early 2030s.
Written by urgent.news from OilPrice's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
