July 14, 2026 — JERA Co., Inc., Japan’s largest power generation company, has made a strategic investment in Quaise Energy, a Houston-based developer of next-generation superhot geothermal technology.
The investment was made through JERA Ventures, the company’s corporate venture capital arm. It supports Quaise Energy’s efforts to develop Project Obsidian, its first commercial geothermal power plant in Oregon. The two companies will also explore potential opportunities for the future commercialization and deployment of the technology in Japan.
Quaise Energy is developing proprietary millimeter-wave drilling technology based on research conducted at the Massachusetts Institute of Technology. The technology is designed to reach geothermal resources with temperatures of 300°C to 500°C at depths that are not economically accessible using conventional drilling methods.
JERA said the technology could significantly expand the regions where geothermal power can be developed, as high-temperature geothermal resources exist deep underground in many parts of the world. The company said this could support clean and reliable baseload electricity generation, including in Japan, which has one of the world’s largest untapped geothermal resources.
“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. Millimeter wave drilling technology has the potential to make geothermal a truly global baseload resource,” said Takeshi Kodama, Head of JERA Ventures and Managing Partner of JERA. “We look forward to working together with Quaise to advance the development of this promising technology and business.”
JERA said next-generation geothermal technologies could help turn Japan’s geothermal resources into a practical option for new clean baseload power. The company also said such technologies could contribute to the development of domestically sourced energy and support energy security amid growing uncertainty in global energy supply chains.
JERA aims to achieve net-zero carbon dioxide emissions by 2050 through the expansion of renewable energy and the advancement of lower-carbon thermal power generation. Through JERA Ventures, the company has invested in several next-generation energy technologies, including electrolyzers, LFP batteries and nuclear fusion.
Quaise Energy said its mission is to unlock deep geothermal heat to provide clean, reliable and scalable baseload energy. JERA Ventures has a strategic investment capacity of $300 million and invests in startups with advanced technologies and innovative business concepts in the energy sector.
