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 -- Quaise Energy, a leading developer of utility-scale superhot geothermal energy, today announced the final close of its Series B, raising a total of $180 million in equity financing, including a $35 million investment from Nabors Industries (NYSE: NBR), one of the world's largest land drilling contractors and a long-standing partner to Quaise.
Nabors has also entered into a strategic framework agreement that supports Quaise’s mission to make superhot geothermal a commercial reality, beginning with the development of Project Obsidian, the world’s first superhot geothermal power plant.
The Series B brings Quaise’s total funding to date to $280 million.
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