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-

Nabors becomes largest shareholder in geothermal driller Quaise Energy

Nabors Industries completed a $35 million strategic equity investment in Quaise Energy, making Nabors the geothermal drilling technology company’s largest shareholder with a fully diluted stake of 14%, the companies said 27 August 2026. The funding, part of Quaise’s Series B financing round, was made through the issuance of approximately 392,000 shares of Nabors common … The post Nabors becomes largest shareholder in geothermal driller Quaise En…

Quaise Energy Closes $180 Million Series B with $35 Million Investment from Nabors Industries and Strategic Framework

Quaise Energy, a leading developer of utility-scale superhot geothermal energy, announced the final close of its Series B Funding.

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…