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).
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