New technology that can reliably and economically drill through super-hot, dense rock is necessary to unlock the potential of geothermal. After 15 years at Schlumberger leading downhole product and technology development, Carlos Araque has the experience and vision to break new ground.
Geothermal electricity production in the USA today taps < 1% of available resources to 8 km depths.
The story of Quaise is incredible. The company is commercializing a technique developed at the MIT Plasma Science and Fusion Center to vaporize dry rock, regardless of rock density or temperature. It’s radically simple, and it offers a unique path to very hot, very consistent temperatures nearly anywhere in the world. The company aims to convert existing fossil fuel-fired power plants to geothermal, using existing energy infrastructure and talent to accelerate the transition to clean, sustainable energy. Affordable, decarbonized, baseload power wherever it’s needed? Sign us up!
We participated in the Quaise Energy’s Series A round in early 2022. With this funding, the company plans to demonstrate its technology in-ground under lab-controlled conditions and expand its multi-disciplinary team based in Boston, Houston, and Cambridge, UK.