Quaise Energy Raises $180M to Advance Superhot Geothermal Power Plant

Quaise Energy raises $180M to microwave for geothermal power near Bend

Quaise Energy is putting the money to work on a project on the side of the Newberry Volcano, about 25 miles southeast of Bend, called Project Obsidian.

Quaise Energy Closes $180 Million Series B with $35 Million Investment from Nabors Industries and Strategic Framework to Build World's First Superhot Geothermal Power Plant

HOUSTON--(BUSINESS WIRE)--Aug 27, 2026-

Quaise Energy Raises $180M to Advance Superhot Geothermal Power Plant

Houston-based Quaise Energy has closed a $180 million Series B equity round, including a $35 million investment from drilling contractor Nabors Industries, bringing Quaise’s total funding to $280 million. Nabors is also establishing a strategic framework with Quaise covering drilling, technology integration and commercial development. The company said the financing will support its Project Obsidian in Central Oregon. Project Obsidian is a so-cal…