CAMBRIDGE, Mass.—Mintz advised Quaise Energy, a developer of a new hybrid deep drilling technology for geothermal energy, in its recent $21 million Series A1 funding round. The deal brings Quaise’s total funding to more than $95 million. The investment will be used to scale up Quaise’s supply chain and enhance its field operations by improving geologic understanding at plant sites.

Quaise projects use novel technology to harness deep geothermal energy, which could provide an essential solution in the transition toward global clean energy. In 2018, the company spun out of the MIT Plasma Science and Fusion Center and is now aiming to establish its first commercial pilot plants.

The Mintz deal team was led by Member Joshua Fox, and was supported by Associates Sarah Palmer, Gianna Nappi and Libby Decker. 

Quaise’s Series A1 funding round was led by Prelude Ventures and Safar Partners and featured several new investors, including Mitsubishi Corporation and Standard Investments.

Click here to listen to Josh Fox’s interview with Quaise Co-founder and CEO Carlos Araque on the Mintz On Air podcast.

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