Quaise raises $134M to drill superhot rock with microwaves

Quaise Energy secured $134 million in Series B funding to develop microwave-based drilling technology for accessing superhot geothermal rock deep underground, aiming to supply clean energy to AI data centers. The funds will support Project Obsidian in Oregon, targeting first power delivery by 2030. The approach replaces traditional drill bits with microwaves to vaporize rock at depths beyond five kilometers, promising higher energy yields per well.