Financial Markets

A COMPANY AIMS TO POWER THE WORLD FOR MILLIONS OF YEARS BY DIGGING THE DEEPEST HOLES EVER

MIT spinout Quaise Energy aims to use X-rays to melt rock and repurpose coal and gas plants into deep geothermal wells. The company plans to vaporize enough rock to create the world's deepest holes and capture geothermal energy on a scale large enough to meet human energy needs for millions of years. Company has not yet addressed all of the engineering hurdles, but it has set an ambitious goal of harnessing energy from a pilot well by 2026.
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