DLA Piper advises Quaise Energy on financing for landmark geothermal project

DLA Piper advised Quaise Energy, a developer of utility-scale superhot geothermal energy, on a financing with Nabors Industries that will support the development of the world's first commercial superhot geothermal power plant.

Quaise Energy and Nabors Industries have also entered into a strategic collaboration covering drilling operations, technology integration, and commercial deployment, which is expected to advance Quaise Energy’s millimeter wave drilling technology. The investment from Nabors brings to a close Quaise’s Series B financing, which raised a total of US$180 million, including the US$35 million investment from Nabors in the form of approximately 392,000 shares of Nabors’ common stock, and brings the company's total funding to date to US$280 million.

The DLA Piper deal team was led by Partners Joshua Fox and Alexander Civetta (both Boston) and included Partners Era Anagnosti (Washington, DC/Palo Alto) and Brian Hamano (Los Angeles/Palo Alto), and Associate Mina Zaky (Austin).

DLA Piper’s Emerging Growth and Venture Capital practice includes more than 200 lawyers who provide strategic counsel to emerging companies and venture capital firms in high-growth industries, including technology, healthcare, life sciences, and financial services. Over the last three years, DLA Piper has completed more than 2,100 financings globally, totaling more than US$80 billion. The firm is ranked among the most active global law firms for venture capital deal volume, according to PitchBook.