US-based Quaise Energy has raised $134m in the first close of its Series B financing, which will support its plans to build Project Obsidian, a commercial superhot geothermal power plant.
Project Obsidian is currently under construction in the Deschutes National Forest in Oregon.
The project is expected to deliver electricity to the grid by 2030.
The Series B round was led by Prelude Ventures, with strategic investors including JERA Co. and Idemitsu Kosan, two **** anese energy companies. Most existing investors, including Safar Partners, also joined the funding round.
Project Obsidian is located on federal geothermal leases in Oregon and is described as having gigawatt-scale potential.
Project Obsidian is currently under construction in the Deschutes National Forest in Oregon.
The project is expected to deliver electricity to the grid by 2030.
The Series B round was led by Prelude Ventures, with strategic investors including JERA Co. and Idemitsu Kosan, two **** anese energy companies. Most existing investors, including Safar Partners, also joined the funding round.
Project Obsidian is located on federal geothermal leases in Oregon and is described as having gigawatt-scale potential.
3 months ago
