By: April Carson
Quaise Energy has raised $63 million to exploit Earth's deep subterranean energy, according to a Bloomberg report. The company plans to dig the world's deepest hole in order to unleash vast amounts of energy thought to be trapped inside the planet.
Critics have already raised concerns about the safety and feasibility of the project, which is estimated to cost $2.8 billion.
Since its beginning in 2020, a firm that plans to drill deeper into the planet than ever before, creating tunnels that will extend a record-breaking 12 miles beneath our planet's surface, has raised $63 million.
Quaise Energy, a company that aims to revolutionize the geothermal energy industry, recently raised $40 million in series A financing, according to Axios. The aim of these extremely deep holes is to extract an infinite amount of renewable energy from the heat deep within the planet.
According to BusinessWire, Carlos Araque, CEO and co-founder of Quaise Energy, said, "This round brings us one step closer to providing clean, continuous baseload power. Our technology enables us to access energy from anywhere in the globe at a scale much greater than wind and solar in the future, allowing future generations to thrive in a world powered by abundant clean energy."
While geothermal energy has a low profile in comparison to other renewable energy sources such as solar, wind, and hydro, Quaise claims it is "at the heart of an energy-independent world." This form of power is among the earliest harnessed by people, but it accounts for only 0.4 percent of total net energy production in the United States, which is also the world's top geothermal producer.
"The Dnieper-Donets Basin in eastern Ukraine is said to have the potential to produce 100 gigawatts of power, 10 times the installed capacity of the world's current largest geothermal plant in California," continued Quaise. "That's enough to power a city the size of New York."
The most recent geothermal plants are generally sited in regions where hot rock is close to the surface of the Earth, such as tectonically active fault lines, making it much easier to extract our planet's natural heat and convert into steam-powered electricity. However, if plants were able to access the hot rock that lies several miles beneath the planet's surface, geothermal energy might play a considerably bigger role in worldwide power supply.
Quaise, a spinoff of MIT, aims to pioneer this technology with vacuum tubes known as gyrotrons that fire millimeter-wave light beams through the use of electrons in a powerful magnetic field. The firm plans to burn almost twice as far into Earth as the deepest holes ever created, such as Russia's Kola Superdeep Borehole or Qatar's Al Shaheen oil well, which extend for about 7.5 miles using these devices.
Water might be vaporized instantaneously by gyrotrons when pumped into a searing environment of 12 miles with temperatures of about 500°C (930°F), making them an ideal device to explore previously inaccessible areas at depths of around 12 miles, where subterranean rocks churn at temperatures of approximately 500°C (930°F). Water pumped into this boiling environment would evaporate instantly as steam that may be readily converted to energy.
Quaise's Zainab Araque and her team have set a goal of spending their seed money on prototype technologies over the next few years. The company aims to retrofit coal-fueled power plants into geothermal energy hotspots by 2028, according to ScienceAlert. Drilling out these extremely deep holes would take a few months, but once the installation is finished, they may provide limitless energy for up to a century, according to Zainab.
In the near future, we may be able to use this underutilized source of deep-Earth power in combination with other methods to bring an end to our reliance on fossil fuels, which are the primary source of human-driven climate change. Geothermal energy may become a clean energy source alongside solar, wind, hydroelectricity, and—if the stars align—nuclear fusion. If nuclear fusion ever becomes reality, however, geothermal energy could emerge as a viable alternative.
While it may appear frightening to delve the depths of our planet in this manner, Araque is certain that the process will not damage any Kaiju or lizard people who dwell underground or consign Earth to the same fate as Krypton, according to an interview with New Atlas. While he did not directly address the Lovecraftian risk of bringing back Cthulhu and his Elder Gods, he did say that "we're at a point where we can control evolution."
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About the Blogger:
April Carson is the daughter of Billy Carson. She received her bachelor's degree in Social Sciences from Jacksonville University, where she was also on the Women's Basketball team. She now has a successful clothing company that specializes in organic baby clothes and other items. Take a look at their most popular fall fashions on bossbabymav.com
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