Geothermal Drilling Innovation and Safety Standards Advance
Key Questions
What progress has Quaise Energy made on Project Obsidian?
Quaise raised $134M in Series B funding from JERA and Idemitsu, targeting first power in 2030 with a 50 MW hyperscaler PPA. Its Texas demonstration has reached 100m depth en route to 1km.
What funding and challenges has Eavor encountered in its projects?
Eavor's German project faces technical snags but received $8M from Alberta to advance its closed-loop Eavor-Jules technology for deeper, hotter resources.
What drilling innovations and partnerships are advancing geothermal standards?
Baker Hughes partnered with H&P on well-control guidelines from IADC, while Vallourec is qualifying OCTG. Utah FORGE continues EGS de-risking with drilling breakthroughs and successful circulation tests.
Quaise Energy's Project Obsidian at Newberry Volcano advances superhot geothermal using millimeter-wave drilling; raised $134M Series B (JERA, Idemitsu) targeting 2030 first power with hyperscaler PPA for 50 MW. JERA, a major Japanese utility, has now invested in Quaise, adding a deep-pocketed strategic partner. Texas demonstration reached 100m depth, approaching 1km. Baker Hughes/H&P partnership, IADC well-control guidelines, Vallourec qualifying OCTG, Drilluminate. Eavor's German project faces technical snags, but received $8M from Alberta for Eavor-Jules, aiming for 15 km depth and >400°C with a 2028 test east of Calgary, advancing closed-loop tech for deeper, hotter resources. Utah FORGE continues EGS de-risking with drilling breakthroughs, successful circulation tests, and a 90-day extended campaign. Modular turbines: Critical Energy, Sage Geosystems, Ormat (new 100 MW unit design with SLB and Sage). Baker Hughes commercial agreement with Mantle Reach Power for up to 500 MW. Hephae Energy Technology raised $17.8M for ultra-high temperature robotics to enable deeper drilling. GreenFire Energy's closed-loop test at The Geysers adds to the repurposing trend, generating 1.1 MW from an idle well. Ormat's re-entry into EGS with SLB and Sage signals industry maturation. XGS Energy is scaling up with key executive hires from bp and Hess, 300 MW offtake, Baker Hughes/Vallourec partnerships, and 150k acres of land, signaling a move from pilot to build-out. Zanskar revived a geothermal plant in New Mexico using advanced modeling and drilling, a case study of hidden potential. A CRS report on EGS commercialization provides broader context on technology de-risking and safety standards.