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Cambridge, MA, USA · Private · quaise.com
Superhot rock reached by millimeter-wave drilling
Open roles
6
▼ 1 since 2026-10-30
Federal awards
—
none found
Last private raise
—
Form D · 2026-09-03
SEC filings
8
latest 2026-09-03
Coming up
PROJECT · PROJECT OBSIDIANConfirmation well in operation (target)
Newberry area, OR
energyglobal.com →+ THESISPOLICY45Y / 48E: all other clean power and storage
Full credit for projects beginning construction through 2033; 75% for 2034 starts, 50% for 2035, none from 2036. Affects Geothermal.
+ THESISFUNDING · PROJECT OBSIDIANGrant: US Department of Energy (EGS field tests)$25M
Announced · Up to $25M for the superhot demonstration, subject to award negotiations
thinkgeoenergy.com →+ THESISPROJECT · PROJECT OBSIDIANSelected for up to $25M of DOE EGS field-test funding
Newberry area, OR
thinkgeoenergy.com →+ THESISFUNDINGQuaise selected for up to $25M in US DOE geothermal support
The DOE selected Quaise for up to $25M under its next-generation geothermal field tests funding, to support the first well triplet at Project Obsidian targeting more than 25 MW gross.
quaise.com →+ THESISFUNDING · SEC FORM Dprivate raise reported (amended)
sec.gov →+ THESISFUNDINGQuaise closes $180M Series B including $35M from Nabors Industries
The final close raised $180M in equity, including a $35M investment from Nabors, and brings total funding to $280M. A strategic framework agreement with Nabors accompanies the investment.
businesswire.com →+ THESISFUNDING · SEC FORM Dprivate raise reported
sec.gov →+ THESISFUNDING · COMPANY ROUNDCompany round: Quaise Series B first close: Prelude Ventures (lead), JERA, Idemitsu, Safar Partners$134M
Closed · Funds Project Obsidian and drilling; project-level equity and debt expected later
energyglobal.com →+ THESISPROJECT · PROJECT OBSIDIANConstruction underway on federal geothermal leases in the Deschutes National Forest; first power targeted by 2030
Newberry area, OR
energyglobal.com →+ THESISFUNDINGQuaise raises $134M in first close of Series B led by Prelude
The first close of the Series B raised $134M, led by Prelude Ventures with strategic investments from JERA and Idemitsu. The company said it was the initial equity component of a broader capital program.
esgtoday.com →+ THESISHow it works
Where rock is hot but dry, drill down and then sideways, crack the rock open between two wells, pump water down one and bring it up hot through the other. Borrowed from oil-and-gas drilling, so it can work in many more places.
OPEN IN 3D →Others on this approach
ProofField tests of millimeter-wave drilling; Project Obsidian confirmation well expectedDec 31, 2026energyglobal.com
NextConfirmation well, then a 50 MW first phase
Supply-chain security
Secured · Contracted · At risk · Unknown — rated only on public evidence; Unknown means nothing has been disclosed.
Sources: company job boards (daily), SEC EDGAR, USAspending.gov, and the reviewed technology spreadsheets. Public records only cover US entities, so foreign companies and private firms that don't file will show gaps.
Public $25MPrivate $0incl. $25M conditional or pending
Money behind this company's projects. Company-wide raises are listed but not counted in totals.
Read from SEC 8-Ks (bankruptcy, default, delisting, restatement, impairment, restructuring), cash runway in annual reports, Form D raises and the 30-day hiring trend. A prompt to look closer, not a credit rating.
2026-10-302026-11-09
Teams moving over 30 days: Engineering +1 (now 6), Business Operations -1 (now 0), Mechanical Engineering -1 (now 0)
By team
By location
Companies file a Form D within 15 days of selling shares privately. “Sold” is the amount raised so far in that offering; amended notices (D/A) update earlier ones.
| First sale | Notice | Offered | Sold |
|---|---|---|---|
| — | D/A · filed 2026-09-03 | open-ended | — |
| — | D · filed 2026-07-14 | open-ended | — |
| — | D · filed 2023-12-12 | open-ended | — |
| — | D/A · filed 2022-06-08 | open-ended | — |
| — | D/A · filed 2022-02-10 | open-ended | — |
| — | D · filed 2022-02-08 | open-ended | — |
| — | D · filed 2021-08-16 | open-ended | — |
| — | D · filed 2020-06-08 | open-ended | — |
No federal grants, contracts or loans found on USAspending.gov under this company's US entity name.
No minerals, policies or partners linked yet. Add them in the review spreadsheet.
2026-11-05 · Value updated
$180M round (total $280M)was: $134M round (total not stated)2026-09-22 · funding
Quaise selected for up to $25M in US DOE geothermal supportThe DOE selected Quaise for up to $25M under its next-generation geothermal field tests funding, to support the first well triplet at Project Obsidian targeting more than 25 MW gross.2026-08-27 · funding
Quaise closes $180M Series B including $35M from Nabors IndustriesThe final close raised $180M in equity, including a $35M investment from Nabors, and brings total funding to $280M. A strategic framework agreement with Nabors accompanies the investment.2026-07-07 · funding
Quaise raises $134M in first close of Series B led by PreludeThe first close of the Series B raised $134M, led by Prelude Ventures with strategic investments from JERA and Idemitsu. The company said it was the initial equity component of a broader capital program.Only Form D notices on file (shown at left).