Quaise Energy, Nevada Gold Mines Retrofit Power Plant with Onsite Geothermal Heat

Nevada Gold Mines (NGM) and Quaise Energy are assessing an additional decarbonization strategy for NGM’s TS Power Plant: geothermal heat from company-owned surface and subsurface holdings to decarbonize and hybridize power generation. The partnership also explores deeper geothermal energy sources to lower the plant’s fossil fuel consumption and greenhouse gas (GHG) emissions.

NGM built a 200-MW solar power plant on its land and, to further lower carbon footprint, is modifying the TS Power Plant to burn clean natural gas in conjunction with the geothermal retrofit. Quaise, with the NGM plant retrofit, will transition from drilling field trials to full commercial deployment.

Aerial view of geothermal drilling rig; image credit: Business Wire

“Nevada Gold Mines is targeting an overall 30% reduction in GHG emissions by 2030,” said Henri Gonin, Managing Director of Nevada Gold Mines. “We continue to pursue initiatives that economically reduce our reliance on carbon-based electricity sources. Quaise offers a unique prospective solution to hybridize our on-site power generation with clean geothermal heat.”

Project Significance

Deep geothermal energy is ideally suited to decarbonize heavy industries such as mining, and this commercial pilot represents an industry milestone: the first commercial pilot to retrofit a fossil-fired plant to utilize geothermal heat. The two major advantages of deep geothermal energy are highlighted in this partnership:

• Location: Deep geothermal wells can be drilled nearly anywhere, even in close proximity to operating power plants.
• Economics: It competes with fossil fuel costs while eliminating carbon emissions by generating more power per well than traditional geothermal.

“Deep geothermal can decarbonize critical industrial processes like mining because of its superior power density,” said Carlos Araque, President and CEO of Quaise Energy. “Our millimeter wave drilling technology is the key to unlocking high-grade geothermal heat, repositioning fossil-fired assets for a clean energy future.”

Quaise Energy News

In March 2024, Quaise Energy closed a $21 million Series A1 funding round led by Prelude Ventures and Safar Partners, with the Mitsubishi Corp. and Standard Investments among several new investors participating in the round. This financing will allow Quaise to enhance field operations and strengthen the company’s supply chain position, while product development will continue with existing capital. Data from the surveys will inform the company where to place the first commercial pilots.

Deep geothermal power development will assist the global energy transition at scale by creating more energy with fewer resources. A deep geothermal power plant can create 10x more energy than conventional geothermal, provide 24/7 baseload power, and allow access to clean energy on a small land footprint. The funding aims to improve geologic understanding at pilot plant locations, with Quaise conducting magnetic and seismic surveys to identify the most advantageous areas for initial drilling.

Quaise Energy is positioned to harness deep geothermal energy globally at 3-20 km below the Earth’s surface. The company uses a novel technique to vaporize rock with high-power microwaves in the millimeter range—this technology is based on more than a decade of research at the Massachusetts Institute of Technology (MIT) and recent testing at Oak Ridge National Laboratory. The initial MIT experiments have been scaled up 100x, with field demonstrations beginning this year.