American startup raises $180 million to drill rock over 5km deep to build world's first superhot geothermal plant at 500 °C

Quaise Energy has successfully raised $180 million for its groundbreaking superhot geothermal plant initiative. Utilizing cutting-edge microwave technology, the project vaporizes rock instead of using conventional drill bits. Collaboration with Nabors Industries will provide essential drilling expertise and equipment. The Obsidian Project, located in Oregon, is set to generate 50 MW by 2030, paving the way for a sustainable energy future.

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