Balerion Senior Associate Aidan Daoussis sits down with Carlos Araque, Founder & CEO of Quaise Energy, to discuss superhot geothermal power and deep drilling technology.
In this conversation, Carlos explains Quaise Energy’s approach to geothermal power generation based on accessing rock temperatures of approximately 300–500°C at depths of 3–20 kilometers. Quaise’s core technology uses millimeter-wave energy rather than mechanical drilling to create wells capable of reaching these depths and temperatures, enabling continuous baseload power generation using conventional steam turbines.
The discussion covers how superhot geothermal differs from traditional geothermal systems, why temperature, as opposed to geography, is the limiting factor for global deployment, and how Quaise plans to scale using the existing oil and gas supply chain and workforce. Aidan and Carlos also explore project economics, deployment timelines, and where deep geothermal fits relative to other firm energy sources such as nuclear and fossil fuels.
00:00 – Welcome & framing the geothermal opportunityAidan introduces Carlos Araque and sets the stage for a discussion on deep geothermal as a foundational energy solution for a rapidly growing, electricity-hungry world.
01:00 – Carlos Araque’s origin storyFrom 15 years in oil & gas to venture capital and MIT-born research, Carlos explains the “aha moment” that led to founding Quaise Energy.
03:00 – What geothermal actually is (and isn’t)A practical explanation of geothermal energy, Earth’s heat budget, and why conventional hydrothermal geothermal has remained niche.
05:30 – Why geothermal isn’t everywhere todayHeat, permeability, and water: the three requirements—and why missing water has limited geothermal deployment globally.
07:30 – Enhanced geothermal systems (EGS) and going deeperHow bringing your own water and drilling deeper opens geothermal access far beyond volcanic regions like Iceland.
10:00 – A brief history of geothermal powerFrom early 20th-century Italy to EGS experiments at Los Alamos and the emergence of modern geothermal startups.
13:00 – What makes Quaise differentMillimeter-wave drilling explained: why conventional mechanical drilling fails at extreme depths and temperatures, and how Quaise changes the physics.
17:00 – Measuring progress in depthQuaise’s roadmap: from 100 meters drilled today to multi-kilometer wells over the next several years.
18:30 – Geothermal vs. nuclear and SMRsHow deep geothermal compares to fission and fusion in cost, geopolitics, deployment speed, and global accessibility.
21:30 – Resource depletion and sustainabilityThermal drawdown, replenishment timescales, and why deep geothermal won’t “cool the Earth.”
23:00 – Business model and commercializationWhy Quaise positions itself as a technology enabler rather than a vertically integrated energy operator.
25:00 – Ideal first customersHyperscalers, industrial users, and why 100+ MW baseload demand is the sweet spot.
27:00 – The hard physics of deep drillingEnergy delivery, cuttings removal, equipment wear—and why most alternative drilling concepts fail.
32:00 – Dual-use possibilities and mining synergiesWhether deep drilling could unlock minerals alongside geothermal heat.
36:00 – What the wells actually look likeHole diameter, drilling geometry, and why Quaise designs around oil & gas industry standards.
39:00 – Power generation and repowering existing plantsUsing superhot geothermal steam in conventional Rankine-cycle turbines, including coal-to-geothermal conversions.
42:00 – Cost curves and energy pricingProjected $30–$100/MWh power across different geothermal “tiers” and how this reshapes global energy economics.
45:00 – Inflection points and scaling timelinesWhy geothermal’s breakout moment may arrive suddenly but infrastructure rollout will still take decades.
48:00 – Oil majors, partnerships, and acquisition questionsWhy Quaise prefers enabling existing energy giants rather than becoming one.
50:00 – Offshore vs. onshore geothermalPlug-and-play drilling systems and why onshore geothermal is usually sufficient.
52:00 – Closing thoughtsGeothermal’s trendline is already bending.
