Japan's largest power generation company, JERA Co., Inc. (JERA) has spoken up on its recent investment in Houston-based Quaise Energy, a growth-stage developer of next-generation superhot geothermal technology.
In a 14 July press announcement, the company said it reflects JERA’s support for Quaise’s efforts to develop its first commercial geothermal power plant, Project Obsidian, in Oregon.
“The companies will also explore potential opportunities related to the future commercialisation and deployment of the technology in Japan,” it added.
The investment was made through JERA’s corporate venture capital arm, JERA Ventures, and reflects growing financial appetite backing the US’ geothermal industry.
Quaise’s proprietary millimeter wave drilling technology, developed from research conducted at the Massachusetts Institute of Technology, is designed to reach geothermal resources at temperatures of 300°C to 500°C, at depths that are not economically accessible with conventional drilling.
Because such high-temperature resources exist deep underground in most regions of the world, the technology has the potential to significantly expand where geothermal power can be developed, supporting clean, reliable baseload electricity production worldwide, including Japan, which has one of the world’s largest untapped geothermal resources.
Next-generation technologies such as superhot geothermal have the potential to turn this resource into a realistic option for new clean baseload power.
Such technologies could also advance the development of domestically sourced energy, supporting energy security amid increasing uncertainty in global energy supply chains.
"As a global energy company, JERA understands both the scale of the challenge ahead and the scale of the opportunity that next-generation geothermal represents,” said Takeshi Kodama, Head of JERA Ventures and Managing Partner of JERA.
“Millimeter wave drilling technology has the potential to make geothermal a truly global baseload resource. We look forward to working together with Quaise to advance the development of this promising technology and business.”