Superhot Geothermal Breakthroughs at Newberry Volcano

Quaise Energy's Project Obsidian raised $134M Series B (JERA, Idemitsu) targeting 2030 first power. Quaise has now drilled to 1 km depth in Texas using a hybrid conventional+gyrotron approach, targeting 50 MW at Project Obsidian. A new deep-dive article highlights a phased approach to 1+ GW, with directed-energy drilling removing the temperature ceiling and potentially making geothermal a universal baseload source. Mazama Energy set world record for hottest EGS at 331°C in 2025, now drilling injector well targeting >400°C with supercritical CO₂ potential. BLM granted a categorical exclusion for Mazama's exploration drilling at Newberry, a key regulatory step. Data center demand is a major driver. Nabors raised EBITDA targets on Obsidian drilling.