MIT spinout Quaise has added $12m to its coffers, having previously collected seed funding from The Engine.

Quaise, a US-based geothermal energy technology spinout of Massachusetts Institute of Technology (MIT), has secured $12m in funding from land drilling company Nabors Industries. Quaise has developed a millimetre wave drilling method for extracting geothermal energy produced and stored within the interior of Earth. The money will accelerate technology development towards a first field demonstration.…

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