This Houston geothermal startup is betting it can beat fossil fuels on cost

illuminem summarises for you the essential news of the day, reviewed by our editorial team. Read the full piece on Fast Company or enjoy below:

🗞️ Driving the news: Houston-based startup Quaise Energy is developing a next-generation “superhot” geothermal power plant in Oregon that aims to provide 24/7 clean electricity while competing on cost with fossil fuel power
• The company recently raised $134 million to build Project Obsidian, its first commercial-scale demonstration

🔭 The context: Traditional geothermal energy is limited to regions with accessible underground heat, such as Iceland and parts of the western United States
• Quaise is using technology adapted from fusion research to drill much deeper into the Earth, reaching hotter rock formations that could unlock geothermal resources in far more locations

🌍 Why it matters for the planet: Geothermal energy could provide reliable, low-carbon baseload power, complementing intermittent renewables such as solar and wind
• If successful, advanced geothermal could expand clean energy access while reducing reliance on fossil fuel generation

⏭️ What’s next: Quaise is beginning drilling for Project Obsidian, with the goal of proving that deep geothermal systems can be deployed economically at scale
• The company hopes its technology can make geothermal competitive with existing fossil fuel power sources

💬 One quote: “Our goal is to be competitive, if not cheaper, than existing sources of baseload power today.” – Matthew Houde, cofounder and chief of staff at Quaise Energy

📈 One stat: Superhot geothermal wells could produce 5 to 10 times more energy than typical geothermal wells today

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