A geothermal energy startup intends to develop a wave drill capable of penetrating the Earth’s crust for 20 kilometers and unleashing almost endless amounts of renewable, geothermal energy.
Quaise Energy, a MIT-based business with offices in Boston and Houston, just raised $40 million in investment to help it build its first drilling rig.
The device works by drilling down to the base rock and then blasting high-power millimeter waves into the earth, eliminating the need for intricate mechanical drills that are restricted by the pressure and severe heat deep inside the crust.
When the heat and pressure get too severe for regular metal drills to withstand, they break or simply melt beyond a certain depth.
The idea is to be able to reuse existing fossil fuel power facilities, replacing coal burning with 500C heat from miles beneath the Earth’s surface.
The company hopes to have the first drilling platform operational by 2024, the first wells producing up to 100 megawatts of geothermal energy by 2026, and fossil power stations converted by 2028, offering clean energy globally.
Geothermal energy may provide significantly more electricity while utilizing less resources. We must address the renewable energy transition from both perspectives. According to the firm, Quaise’s solution makes them optimistic for a future when clean, renewable energy will safeguard the future of our world.
According to the team behind the technique, the ability to drill deep into the surface from anywhere on the earth without expensive and often broken drills is a game changer for renewable energy.
It would allow geothermal power plants to be built everywhere and possibly replace current fossil fuel power plants with geothermal energy sources.
Quaise will be able to speed product development and commence building on the first field-deployable wave drilling equipment as a result of the investment.