Quaise Energy Selected for Up to $25 Million in U.S. Department of Energy Support to Advance World’s First Commercial Superhot Geothermal Power Plant

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Postmedia has not reviewed the content. by Business Wire Quaise Energy Selected for Up to $25 Million in U.S. Department of Energy Support to Advance World's First Commercial Superhot Geothermal Power PlantAuthor of the article:Quaise’s Project Obsidian, a commercial-scale superhot Enhanced Geothermal System (EGS), selected to receive federal funding as part of $99 million DOE effort to advance geothermal energy development across the United StatesSupports completion of the first well triplet at Project Obsidian, targeting more than 25 megawatts of gross electric powerProject team includes Pacific Northwest National Laboratory, Lawrence Berkeley National Laboratory and Oregon State UniversityTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountHOUSTON — Quaise Energy, a leading developer of utility-scale superhot geothermal energy, today announced that it has been selected by the U.S. Department of Energy (DOE) for up to $25 million in funding under the Next-Generation Geothermal Field Tests and Geothermal Resource Characterization and Confirmation funding opportunity. The support brings the U.S. closer to commercializing superhot Enhanced Geothermal Systems — technology that could unlock firm, clean power from hot rock beneath virtually any geography in the country.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe funding will advance Project Obsidian, the world’s first commercial superhot geothermal power plant, in Central Oregon. It will support analysis of the drilling, stimulation, and flow results of the first two wells to optimize a third well at the Obsidian site. The three-well configuration is targeting average reservoir temperatures of over 300°C and is designed to demonstrate more than 25 megawatts of gross electric power capacity. The DOE funding will also enable Quaise and its research partners to collect, analyze and share field data from drilling, stimulation and flow testing — establishing a replicable template to help unlock further EGS development.“This DOE support is a recognition of what we are building at Quaise and the progress we are making in the field, including the confirmation well currently being drilled at Project Obsidian,” said Carlos Araque, CEO and President of Quaise Energy. “Our ambition has always been to make superhot geothermal a commercial reality, and Project Obsidian is where we first deliver on that promise.”Project Obsidian, currently under construction south of Bend, Oregon, sits on one of the most extensively studied geothermal resources in the United States. The project is expected to deliver first power to the Pacific Northwest grid in 2030 with potential for expansion up to one gigawatt of electricity.Learnings from these three wells will directly inform subsequent drilling at the site. Using EGS and advanced drilling techniques, Quaise expects to drill the hottest well in the Western Hemisphere at Project Obsidian reaching temperatures over 400°C — above the range of current commercial geothermal projects. Phase one of the project is expected to produce more than 50 megawatts of electric power by 2030.The full value of the proposed DOE funding is subject to completion of award negotiations. The project team includes experts from Pacific Northwest National Laboratory, Lawrence Berkeley National Laboratory, and Oregon State University.The selection follows Quaise’s close of $180 million in Series B financing in August 2026, led by Nabors Industries and Prelude Ventures, with participation from JERA Co., Inc. and Idemitsu Kosan, to fund Project Obsidian.Quaise Energy is unlocking the Earth’s deep heat to deliver clean, reliable, baseload energy at scale—almost anywhere in the world. As both a technology innovator and project developer, Quaise builds and operates solutions that harness superhot geothermal energy far below the surface, enabling power generation that can rival the output of today’s most efficient fossil fuel and nuclear plants. With its millimeter wave drilling technology, developed after more than a decade of research at the Massachusetts Institute of Technology (MIT), Quaise’s mission is to make superhot geothermal a backbone of the modern energy system, offering affordable, zero-carbon power and true energy independence for communities and nations everywhere. https://www.quaise.com/Forward Looking Statement: This press release contains forward-looking statements, including statements regarding the Company’s future financial performance, business plans, and expectations. These forward-looking statements are based on assumptions deemed reasonable by the Company at the time they were made. There is no assurance that such statements will prove accurate, and actual results may differ materially from those expressed or implied herein due to various risks, uncertainties, and other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and are based on the aforementioned assumptions. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.View source version on businesswire.com: Vice President, Marketing & Communications, Quaise EnergyThis advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.